Market saturation is when the supply of products or services outweighs the demand. Understand what market saturation means for your investment properties.
Holyrood Home Price
When looking across the province, Holyrood is the 23th most expensive in Newfoundland and Labrador.
In Aug the median listed house price of $337,400 in Holyrood was an impressive compared to the rest of Newfoundland and Labrador.
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.
There are 197 neighbourhoods that have more properties on sale than Holyrood at the moment in Newfoundland and Labrador which puts the neighbourhood in the top 20% when looking at the number of properties to choose from.
When we look at the data we have, it can help with trying to establish whether or not Holyrood is a good investment target.
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Holyrood there is more stock than three months ago. This would indicate pressure on prices easing.
Newfoundland and Labrador 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.
It’s always hard to tell what property prices will do over the coming months, but over the last three months the properties available for purchase in Holyrood have stayed pretty much the same which would tend to indicate that demand is steady.
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