Welcome to all Carleton Place residents and real estate enthusiasts! We’re thrilled to present the latest Carleton Place real estate market report for August 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 Carleton Place.
Property Prices
The average sale price for a detached single-family home in August 2023 for Carleton Place has been recorded at $650,244, which reflects an increase of 8.69% compared to last year’s price of $598,250 in August 2022.
Days to Sell
The average time on the market in Carleton Place for August was 37 days, representing an increase of 7 days from August 2022.
Compared to 5 years ago in August 2018, the average Days to Sell was 51, indicating a decrease of 14 days.
Properties Sold
In August 2023, there were 15 properties sold. This number remains the same as the number of properties sold in August 2022. However, compared to August 2018, there has been a decrease of 21.1% in the number of properties sold.
Long-Term Market Growth
Over the past 5 years, sale prices for detached single-family homes in Carleton Place have increased significantly. In 2018, the average sales price was $311,186. As of August 2023, the average sales price has risen to $650,244, marking a growth of 108.96%.
The average sales price change for a detached single-family home from 2018 to August 2023 is $311,186, a difference of +91.8%.
When looking at specific property types, the average sales price change for a Bungalow from 2018 to August 2023 is $363,114, a difference of +111.1%. For a 2-Story home, the average sales price change is $287,719, a difference of +81.2%. Lastly, for a Row/Townhome, the average sales price change is $257,304, a difference of +83.6%.
Carleton Place vs Ottawa
Comparing Carleton Place to the broader municipality of Ottawa, we find fascinating trends emerging. In August 2023, the average sale price for a detached single-family home in Ottawa was around $753,096, which is 15.8% higher than Carleton Place’s average single-family home price.
Posted Mortgage Rates
As of September 6, 2023, the interest rates for a 1-Year term is 7.89%, the 3-Year term is 7.04%, and the 5-Year term is 6.84%.
Conclusion
The Carleton Place real estate market continues to show steady growth, with an increase in average sale prices and a decrease in the number of days to sell. Compared to Ottawa, Carleton Place offers a more affordable option for homebuyers. With these insights, residents and real estate enthusiasts can make informed decisions in this dynamic market.
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!
