Welcome to all Findlay Creek residents and real estate enthusiasts! We’re thrilled to present the latest Findlay Creek real estate market report for March 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 March 2024 for Findlay Creek has been recorded at $913,725, which reflects 1.26% growth compared to last year’s price of $902,324 for March 2023.
Days to Sell
The average time on the market in Findlay Creek for March was 77 days, representing a decrease of 4 days from last year in March 2023, indicating a significantly brisk market. However, this is much slower than five years ago (March 2019) when the average Days to Sell was 26, a difference of +52 days.
Properties Sold
In March 2024, there were 23 properties sold. This is a slight increase from last year in March 2023 when 22 properties were sold, a difference of +4.5%. And when compared to five years ago in March 2019 when there were only 11 properties sold, this represents an impressive increase of +109.1%.
Long-Term Market Growth
Over the past five years, the average sale price for detached homes in Findlay Creek has surged from $621,084 in 2019 to $913,725 in March 2024. This represents an average equity increase of approximately $292,641 for detached single-family homes in Findlay Creek.
Breaking this down further, bungalows have seen an average sales price change of $182,675 (+33.9%), 2-Story homes have seen an average sales price change of $248,784 (+48.9%), and Row/Town homes have seen an average sales price change of $233,973 (+54.1%) from 2019 to March 2024.
Findlay Creek vs Ottawa
Compared to the broader municipality of Ottawa, Findlay Creek’s real estate market showcases unique and favorable trends. In March 2024, the average sale price for a detached single-family home in the municipality of Ottawa was $814,750. This is -10.8% lower than Findlay Creek’s average single-family home price of $913,725.
Posted Mortgage Rates
As of April 3, 2024, the interest rates for a 1-Year term is 7.84%, the 3-Year term is 6.99%, and the 5-Year term is 6.84%.
Conclusion
With an average sale price increase, a decrease in days to sell, and a notable rise in properties sold compared to previous years, Findlay Creek continues to stand out as a sought-after location for homeowners and investors alike. The comparative analysis with the broader Ottawa market further underscores Findlay Creek’s exceptional performance and appeal. As we keep an eye on rising interest rates, the long-term growth in property values in Findlay Creek presents a promising opportunity for those looking to invest in a vibrant community. Whether you’re considering buying, selling, or simply staying informed, the dynamics of the Findlay Creek real estate market are certainly worth watching.
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!
