Welcome to all Embrun residents and real estate enthusiasts! We’re thrilled to present the latest Embrun 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 Embrun.
Property Prices
The average sale price for a detached single-family home in September 2023 for Embrun has been recorded at $723,800, reflecting a 9.10% increase compared to last year’s price of $663,400 for September 2022. This substantial increase suggests a strong demand for homes in Embrun.
Days to Sell
The average time on the market in Embrun for September was 62 days, representing an increase of 10 days from September 2022. However, compared to five years ago in September 2018, the average days to sell has decreased by 17 days, indicating a more active and faster-paced real estate market in recent years.
Properties Sold
In September 2023, there were 12 properties sold in Embrun. This is a significant increase of 33.3% compared to September 2022 when there were 9 properties sold. Moreover, when comparing to September 2018, the number of properties sold has seen an impressive increase of 140%. This indicates a growing interest in Embrun as a desirable real estate market.
Long-Term Market Growth
Over the past five years, Embrun has experienced a remarkable growth in property prices. The average sales price for detached single-family homes has risen from $370,337 in 2018 to $723,800 in September 2023. This represents an impressive change of +95.44% in property prices. Buyers and sellers can benefit from this positive long-term market growth.
Comparing Embrun to Ottawa
When comparing Embrun to the broader municipality of Ottawa, we see fascinating trends emerging. In September 2023, the average sale price for a detached single-family home in Ottawa was around $769,352, which is +6.3% higher than Embrun’s average single-family home price of $723,800. This suggests that Embrun continues to offer a relatively competitive real estate market within close proximity to the larger city.
Posted Mortgage Rates
As of October 4, 2023, the interest rates for different mortgage terms in Embrun are 7.84% for a 1-Year term, 7.14% for a 3-Year term, and 7.04% for a 5-Year term. It’s crucial for homebuyers and sellers to stay informed about the current mortgage rates to make well-informed decisions.
Conclusion
The Embrun real estate market in September 2023 has shown positive growth in property prices and an increased number of properties sold compared to previous years. Embrun continues to be an attractive location with a slightly more affordable average sale price for detached single-family homes compared to Ottawa. Keep an eye on the market trends and mortgage rates to make informed decisions in this thriving real estate 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!
