Welcome to all Arnprior residents and real estate enthusiasts! We’re thrilled to present the latest Arnprior real estate market report for September 2023. 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 September 2023 for Arnprior has been recorded at $704,725, which reflects a significant increase of 33.98% compared to last year’s price of $525,983 for September 2022. This showcases the strong growth and demand in the Arnprior real estate market.
Days to Sell
The average time on the market in Arnprior for September was 37 days, representing an increase of 5 days from last year in September 2022. This indicates that properties are selling relatively quickly, showcasing a competitive market.
Properties Sold
In September 2023, there were 9 properties sold. Although there was a slight decrease compared to last year when 10 properties were sold, the market remains stable. However, five years ago in September 2018, there were 12 properties sold, indicating a decrease of 25.0% in the number of sales.
Long-Term Market Growth
Over the past five years, we have seen significant growth in property prices for detached single-family homes in Arnprior. In 2018, the average sale price was $399,999, and in September 2023, it reached $704,725, reflecting a substantial change of +76.18%. This growth signals a thriving real estate market.
When comparing different types of homes, the average sales price change from 2018 to September 2023 is as follows:
- For a detached single-family home, the price change is +131.3% ($399,999 increase).
- For a Bungalow, the price change is +92.7% ($269,344 increase).
- For a 2-Story home, the price change is +100.5% ($302,665 increase).
- For a Row/Town home, the price change is +99.9% ($253,494 increase).
Arnprior vs Ottawa
Comparing Arnprior to the broader municipality of Ottawa, we find fascinating trends emerging. In September 2023, the average sale price for a detached single-family home in Ottawa was around $769,352, which is +9.2% compared to Arnprior’s average single-family home price of $704,725. This indicates that Arnprior continues to offer more affordable housing options while still experiencing notable market growth.
Posted Mortgage Rates
As of October 4, 2023, the interest rates for different mortgage terms are as follows: 1-Year term at 7.84%, 3-Year term at 7.14%, and 5-Year term at 7.04%. It’s essential to keep these rates in mind when considering purchasing a property in Arnprior.
Conclusion
The Arnprior real estate market continues to exhibit strong growth and competitiveness. Property prices have increased significantly over the past five years, and despite a slight decrease in the number of properties sold compared to last year, the market remains stable. If you’re considering buying or selling a property in Arnprior, it’s crucial to stay informed about these market trends.
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 to be accurate but may not be guaranteed – after all, we are human!
