Welcome to all Carleton Place residents and real estate enthusiasts! We’re thrilled to present the latest Carleton Place real estate market report for December 2023. In this month’s report, we delve into the key statistics keeping you informed about the current state of the unique housing market in Carleton Place.
Property Prices
The average sale price for a detached single-family home in Carleton Place for December 2023 stands at $421,980. This figure reflects a decrease of -29.67% in comparison to last year’s price of $599,983 for December 2022.
Days to Sell
When it comes to the time on market, the average in Carleton Place for December 2023 was 74 days. This number represents a reduction of 23 days from last December 2022. Comparatively speaking, five years ago, back in December 2018, the average time to sell was 51 days, thus showcasing a five-year difference of +23 days.
Properties Sold
Turning our attention to property transactions, in December 2023, there were 10 properties sold. The same month last year recorded 7 properties sold, translating to an increase of +42.9%. When compared to five years back in December 2018, where 6 properties were sold, the growth rate stands at a significant +66.7%.
Long-Term Market Growth
Shifting our focus to long-term trends, we note a significant growth in property prices in Carleton Place. The last five years have seen sale prices leap from an average of $82,922 back in 2018 up to the current average sales price of $421,980 in 2023. This incredible surge translates to an overall change of +408.89% for detached single-family homes.
Carleton Place vs Ottawa
Comparing Carleton Place real estate market to its broader municipal parent, Ottawa, brings into perspective interesting trends. As of December 2023, the average sale price for a detached single-family home in Ottawa stood at around $808,874 – indicating a substantial difference of +91.7% when compared to Carleton Place’s average price of $421,980.
Posted Mortgage Rates
Data as of November 29, 2023, reveals the interest rates for a 1-Year term at 8.09%, the 3-Year term at 7.24%, and the 5-Year term at 7.04%.
Conclusion
The current real estate market in Carleton Place, as of December 2023, shows extensive growth over the last five years with a substantial increase in the number of properties sold and a more modest dip in property prices compared to 2022. With significant differences between Carleton Place and Ottawa’s average home prices, it’s clear the market here offers unique opportunities.
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!
