Welcome to all Embrun residents and real estate enthusiasts! We’re excited to bring to you the latest Embrun real estate market report for December 2023. This report aims to bring to light the crucial statistics that depict the current state of the unique housing market in Embrun.
Property Prices
Diving straight in, the average sale price for a detached single-family home in Embrun in December 2023 was recorded at $475,333. This figure indicates a sizable decrease of -27.98% compared to the sale price of $660,000 recorded in December 2022.
Days to Sell
In terms of market liquidity, properties in Embrun took a longer time to sell. On average, properties stayed on the market for 114 days in December 2023, presenting an increase of +107 days compared to December 2022. When compared to 5 years ago, in December 2018, the current average days to sell has increased by +34 days.
Properties Sold
In the property sales volume category, December 2023 saw 7 properties being sold. This is significantly higher compared to December 2022 when only 1 property was sold, marking a +600.0% difference. Compared to 5 years ago, December 2023 shows an increase of +16.7% in properties sold.
Long-Term Market Growth
Embrun property markets have witnessed substantial price growth over the last 5 years. Starting from an average price of $121,870 in 2018 to an average sales price of $475,333 in December 2023, the market has shown a staggering +290.03% growth in property prices. All property types have seen respective growth in their average sales prices.
Embrun vs Ottawa
When we compare the average sale price of a single-family detached home in Embrun with that in Ottawa, we observe a significant difference. The average price in Ottawa towers over Embrun by +70.2%, coming in at $808,874 for December 2023.
Posted Mortgage Rates
On the financing front, as of November 29, 2023, the posted interest rates are 8.09% for a 1-Year term, 7.24% for a 3-Year term, and 7.04% for a 5-Year term.
Conclusion
Irrespective of the dips and rises that Embrun’s real estate market has experienced over the past year, the long-term growth proves promising. Therefore, whether you are a homeowner, buyer, or investor, understanding these trends can help maneuver your real estate strategy effectively.
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!
