Welcome to all Arnprior residents and real estate enthusiasts! We’re thrilled to present the latest Arnprior real estate market report for January 2024. In this month’s report we delve into the key statistics that will keep you informed about the current state of the unique housing market in Arnprior.
Property Prices
The average sale price for a detached single-family home in January 2024 for Arnprior has been recorded at $563,580, reflecting a promising growth rate of 8.38% compared to last year’s price of $520,000 for January 2023.
Days to Sell
It’s noteworthy that the average time on the market in Arnprior for January 2024 was 116 days, which has fallen by 16 days from last year, in January 2023 when it was 132 days. Fascinatingly, compared to 5 years ago in January 2019, the average Days to Sell has increased by 65 days, casting light on the dynamic real estate market scenario in Arnprior.
Properties Sold
In January 2024, six properties found new owners in Arnprior, a trend that aligned with the sales numbers from January 2023. In a contrast with five years ago, in January 2019, a noticeable increase of 50% in sales, from four to six units, can be observed from the same period in 2024.
Long-Term Market Growth
Over the past half-decade, significant growth is evident in the Arnprior real estate market. Detached homes’ average sale price, for instance, has soared from $299,226 in 2019 to reach $563,580 in January 2024 – a net equity increase of about $264,354. Detailed analysis shows that Bungalows and 2-Story homes experienced price spikes of 68.6% and 73.4% respectively, while Row/Town homes saw an increase of 69.6%.
Arnprior vs Ottawa
Through a comparative lens with Ottawa’s broader municipality, Arnprior’s story of growth gains deeper relevance. The average sale price for a detached single-family home in the Ottawa municipality was around $731,193 in January 2024, nearly 30% higher than Arnprior’s average single-family home price of $563,580.
Posted Mortgage Rates
As of January 31, 2024, potential homebuyers would find the interest rates for a 1-Year term at 7.84%, the 3-Year term at 7.04%, and the 5-Year term at 6.89%.
Conclusion
Arnprior’s real estate market demonstrates a healthy pattern of growth and stability. The town’s diverse and robust property market presents intriguing opportunities for investors, sellers, and buyers alike.
All real estate statistics have been obtained from data reported by the Ottawa Real Estate Board’s MLS System. We have curated our search criteria to ensure more accurate stats for smaller regions of Ottawa. All figures are believed accurate but may not be guaranteed – we are human after all!
