Sandy MacKay, a top local realtor from the Hamilton area, says that investors should be paying attention to the city as it has a lot to offer.
Ellerslie Home Price
Across the nation CREW lists data for 5162 neighbourhoods, and this month Ellerslie is number 4810 putting it behind most of Canada .
While the median for Prince Edward Island is $179,600 , which means that Ellerslie’s median price is $90,950 a lot lower than the rest of the province.
3 bedroom properties are the most common available for real estate investors this month in neighbourhood.
From our data, it appears that neighbourhood is number 2634th when comparing neighbourhoods by the number of properties available to investors across the nation, putting it in the bottom 50.
There are a number of important pieces of research you should do before deciding where to buy an investment property – this data for Ellerslie will hopefully provide an indicator to help you where to research in-depth
One of the important leading indicators for property investors is whether the amount of stock on the market is increasing or decreasing – as more comes on buyers have more choice so prices can tend to drop. In Ellerslie, the amount of stock on the market has decreased which is a positive indicator for house prices. Three months ago there were 7, this month we show 6.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have the average number of bedrooms than the most commonly available across the nation.
Can we guarantee how well Ellerslie is going to do next year? No, but we can look at the data we have and use it as a starting point before doing research.
Because the amount of real estate listed for sale has stayed the same it looks like housing market forces in neighbourhood are likely to not necessarily affect house prices.
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