Welcome to all Findlay Creek residents and real estate enthusiasts! We’re delighted to bring you the freshest scoop of the Findlay Creek real estate market report for December 2023. In this detailed account, we’ll take you on a journey through the major shifts designed to piece you onto the current state of the idiosyncratic housing market landscape in Findlay Creek.
Property Prices
Drilling down to property prices, there is a remarkable consistency. The average sale price for a detached single-family home in Findlay Creek for December 2023 has balanced out at $905,250. This marks a subtle spike of 0.62% compared to the previous year’s price of $899,648 noted in December 2022. A testament to the residential property market in Findlay Creek consistently maintaining its vitality.
Days to Sell
Turning our gaze onto the timing parameters, the average time on the market in Findlay Creek for December surged to 96 days. This constitutes a rise of 27 days from the same month the previous year. The days to sell in December 2023 was 96, marking an increase of 46 days from the 50-day average in December 2018. This could be attributed to the evolving preferences and buying behaviors of potential house buyers in Findlay Creek.
Properties Sold
In sharpening multiples and transaction volume, December 2023 witnessed 12 properties change hands. When pitch forked against December 2022, there was a drop down by 14.3% from the 14 sales recorded. However, on a long-term five year scale, there’s a remarkable uptick by 50.0% from December 2018 which posted a total sale of 8 properties.
Long-Term Market Growth
Looking at the grand scheme of things in regard to long-term market growth, an impressive pattern unfolds. Within the span of 5 years, the sale prices for detached single-family homes in Findlay Creek have bolted up an average of $312,675 from 2018 to the current average sales price of $905,250 as of December 2023. This signifies a whopping jump of 52.8% in property prices. A break-down of category-wise growth figures promises promising investment potential across various home types in Findlay Creek.
Findlay Creek vs Ottawa
On a comparative note when positioned against Ottawa, Findlay Creek demonstrates a promising edge. In December 2023, while the average sale price for a detached single-family home in the larger Ottawa municipality hovered around $808,874, Findlay Creek raced ahead by 10.6% with the average price perched at $905,250.
Posted Mortgage Rates
Getting into the nitty-gritty of financing, the interest rates as of November 29, 2023, were pegged at 8.09% for a 1-Year term, 7.24% for the 3-Year term, and the 5-Year term at 7.04%.
Conclusion
In interleaving threads from various facets of the Findlay Creek’s real estate scene, a significant, stable, and growing housing market is evident. It promises suitable prospects for both selling and buying properties, backed by reliable mortgage rates that ensure sustainable investments.
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!
