Welcome to all Casselman residents and real estate enthusiasts! We’re thrilled to present the latest Casselman 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 Casselman.
Property Prices:
The average sale price for a detached single-family home in August 2023 for Casselman has been recorded at $625,400, which reflects a 4.72% increase compared to last year’s price of $597,188 for August 2022.
Days to Sell:
The average time on the market in Casselman for August was 66 days, representing an increase of 15 days from last year in August 2022. Compared to 5 years ago in August 2018, the average Days to Sell was 120, a difference of 53 days.
Properties Sold:
In August 2023, there were 7 properties sold. Last year, in August 2023, there were 9 properties sold, a decrease of 22.2%. Five years ago, in August 2018, there were 5 properties sold, an increase of 40.0% compared to August 2023.
Long-Term Market Growth:
In the last 5 years, sale prices have gone from an average of $331,441 in 2018 to the current average sales price of $625,400 in August 2023. This is a significant change of +88.69% in property prices for detached single-family homes in Casselman. The average sales price change for a detached single-family home from 2018 to August 2023 is $331,441, a difference of +112.8%. The average sales price change for a Bungalow is $288,573, a difference of +93.4%. For a 2-Story home, the average sales price change is $308,767, a difference of +110.3%. Lastly, the average sales price change for a Row/Town home from 2018 to August 2023 is $249,750, a difference of +92.8%.
Casselman vs Ottawa:
Comparing Casselman 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 the municipality of Ottawa was around $753,096. This is a significant difference of +20.4% compared to Casselman’s average single-family home price of $625,400.
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:
Based on the data provided, it is evident that the Casselman real estate market has experienced a steady increase in property prices over the past few years. Despite a slight decrease in the number of properties sold this year compared to last year, Casselman remains an attractive location for homeowners. With its unique charm and proximity to Ottawa, Casselman offers a favorable real estate market for those looking to invest in a detached single-family home. As always, it’s essential to consult with a real estate professional for the most accurate and up-to-date information.
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!
