Market saturation is when the supply of products or services outweighs the demand. Understand what market saturation means for your investment properties.
Hope Home Price
Across the country as a whole, Hope is in the Top 40% when all of Canada’s suburbs are listed in order of real estate listing prices.
The $349,900 price tag on the median Hope home means that it is above the cost of most houses in the country.
In province, the most common property on the listings this month has 3 bedrooms, in this neighbourhood it’s 3.
From our data, it appears that neighbourhood is number 462th when comparing neighbourhoods by the number of properties available to investors across the nation, putting it in the top 10.
As one of British Columbia’s many potential real estate investment neighbourhoods, Hope 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.
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 Hope have dried up which would tend to indicate that demand is higher than the supply of new properties.
Is Hope a good investment prospect? It’s never a perfect science, but the data we have given us a number of indicators.
The amount of homes for sale in neighbourhood has stayed the same over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also remained constant.
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