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.
Kitimat Home Price
With a median listing price of $259,495, Kitimat is Canada’s 1964th most expensive when ordered by median listing price.
With Kitimat’s median house price at $259,495 in Aug , it is one of the cheapest neighbourhoods compared to the rest of British Columbia.
Investors looking for properties in Kitimat are most likely to find 3 bedroom homes on offer this month, with 4 bedroom potential investment properties the second most popular.
British Columbia has the third most amount of properties available to property investors, with Kitimat having 43th most in the province, out of a total of 359.
Can we guarantee how well Kitimat 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.
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 Kitimat, the amount of stock on the market is about the same which is neither good nor bad indicator for house prices. Three months ago there were 112, this month we show 112.
Across the nation CREW lists data for 1054 neighbourhoods, and this month Kitimat is number 561 putting it in the bottom half of the country .
Want a cheaply priced house? Then at $199,990 this month, Kitimat, British Columbia is somewhere that you should look at price wise.
British Columbia has the third most amount of properties available to property investors, with Kitimat having 58th most in the province, out of a total of 124.
As one of British Columbia’s many potential real estate investment neighbourhoods, Kitimat 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 Kitimat, housing stock has decreased over the last three months, which would tend to mean that home buyers are snapping up properties faster than they come on the market.
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