Welcome to all Findlay Creek residents and real estate enthusiasts! We’re thrilled to present the latest Findlay Creek real estate market report for January 2024. 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 Findlay Creek.
Property Prices
The average sale price for a detached single-family home in January 2024 for Findlay Creek has been recorded at $942,390, which reflects a 4.52% increase compared to last year’s price of $901,650 for January 2023.
Days to Sell
The average time on the market in Findlay Creek for January was 80 days, signifying a 13-day increase from last year in January 2023 when the average days to sell was 67. If we compare this with data from 5 years ago in January 2019, the average Days to Sell was 26, indicating a significant increase of 54 days.
Properties Sold
In January 2024, a total of 18 properties found new owners. This shows a 5.9% increase from the same month last year, in January 2023, when a total of 17 properties were sold. Five years back, in January 2019, there were 8 properties sold, indicating a considerable market growth of 125% in January 2024.
Long-Term Market Growth
In the last 5 years, sale prices for detached homes in Findlay Creek have climbed from an average of $621,084 in 2019 to the current average sales price of $942,390 in January 2024. This substantial rise of over 50% represents an average equity increase of approximately $321,306 for detached single-family homes in Findlay Creek. To break this down further, the average sales price change for a Bungalow from 2019 to January 2024 is $287,250, a noteworthy increase of 53.3%. Meanwhile, the average sales price change for a 2-Story home is $208,751, a significant boost of 41.1%; and for a Row/Townhome, the average sales price change is $215,078, a considerable hike of 49.8%.
Findlay Creek vs Ottawa
When we compare Findlay Creek to the broader municipality of Ottawa, some interesting trends emerge. In January 2024 the average sale price for a detached single-family home in the municipality of Ottawa was around $731,193. This price is a whole 22.4% lower than Findlay Creek’s average single-family home price of $942,390.
Posted Mortgage Rates
As of January 31, 2024, the interest rates for a 1-Year term is 7.84%, the 3-Year term is 7.04%, and the 5-Year term is 6.89%.
Conclusion
From these statistics, it’s clear that Findlay Creek, Ontario has a thriving real estate market with properties showing impressive long-term growth. As we move forward, it will be interesting to watch how the market shifts and changes, particularly in comparison with the broader municipality of Ottawa.
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!
