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.
Port Hood Home Price
With Port Hood’s median house price at $244,900 in Aug , it is above average compared to the rest of Nova Scotia.
There are 825 neighbourhoods that have more properties on sale than Port Hood at the moment in Nova Scotia which puts the neighbourhood bottom 40% when looking at the number of properties to choose from.
Will prices rise across the next year in in Port Hood? There are a number of real estate indicators to consider.
Over the last three months in Port Hood, housing stock available seems to be staying constant – this could mean that homes values might not be hugely affected by supply constraints.
It’s never an exact art, but to try to forecast how property is going to appreciate in Port Hood for investors, it’s important to look at data like:
Stock on the market can be an important leading indicator of whether market pressure will be on prices to rise or fall – in Port Hood there is about the same amount of stock than three months ago. This would indicate housing stock pressure remaining the same.
“Sign up for our daily newsletter to get the latest news, updates and offers delivered directly to your inbox.”
Designed to offer readers accurate, cutting-edge information to guide their investment decisions, each issue of Canadian Real Estate is filled with informative articles on a broad range of topics.
© 2021 Canadian Estate Wealth. All Rights Reserved by Merged Media