Debt service ratio is essentially the ratio between your income and your debt payments. This ratio is important because it’s a simple way to measure how effectively you can handle your payments.
West Royalty Home Price
The median asking price in West Royalty is $279,000, an improvement on the median three months ago which was $239,500 .
With West Royalty’s median house price at $279,000 in Aug , it is high priced compared to the rest of Prince Edward Island.
Across Canada the most common number of bedroom property being listed has 3 bedrooms, in Aug this neighbourhood’s most common listing has properties with fewer bedrooms.
There are 218 neighbourhoods that have more properties on sale than West Royalty at the moment in Prince Edward Island 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 West Royalty is a good investment target.
The amount of homes for sale in neighbourhood has increased over the last three months – this means that supply and demand economics would mean that the pressure on house prices has also slipped.
Can we guarantee how well West Royalty 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.
Because the amount of real estate listed for sale has stayed the same it looks like housing market forces in neighbourhood are likely to not necessarily affect house prices.
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