According to a new analysis, the housing market in Canada had the biggest drop in affordability in 41 years in the second quarter of 2022.
Grande Prairie Home Price
Grande Prairie was Canada’s 1063th most expensive suburb by listed median house price this month.
While the median for Alberta is $375,000 , which means that Grande Prairie’s median price is $349,000 considerably better than the rest of the province.
When it comes to the size of the properties currently available to property investors in this neighbourhood, they tend to have fewer bedrooms than the most commonly available across the nation.
Alberta has the fourth most amount of properties available to property investors, with Grande Prairie having 160th most in the province, out of a total of 339.
As one of Alberta’s many potential real estate investment neighbourhoods, Grande Prairie needs to be carefully researched before investing in – and remember to check especially the locations within an area before spending - the old estate agent’s mantra of location, location, location has never lost its importance.
In Grande Prairie, housing stock has increased over the last three months, which would tend to mean that more sellers are listing their houses than there are buyers to absorb the housing stock.
When looking across the province, Grande Prairie is the 89th most expensive in Alberta.
When our research team crunched the numbers we calculated that Grande Prairie has a median home price of $173,800.
If you’re looking at investment properties in Grande Prairie, then you’re most likely to find homes with 2 bedrooms on sale this month.
If you’re looking for a large choice of properties on sale when you’re adding to your real estate investment portfolio, then Grande Prairie has a huge choice compared to the rest of the province
Alberta has hundreds of possible neighbourhoods for you to invest in and there is lots of data to sift through to help you narrow your search down.
Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.
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