Welcome to all Findlay Creek residents and real estate enthusiasts! We’re thrilled to present the latest Findlay Creek real estate market report for April 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 current property market in Findlay Creek for April 2024 saw an average sale price for a detached single-family home recorded at $974,800. This reflected a drop of -4.78% compared to last year’s price of $1,023,750 in April 2023.
Days to Sell
Homes in Findlay Creek stayed on the market an average of 44 days in April, which is a jump of +11 days from the average time in April 2023. This marked an increase from 5 years ago in April 2019 when the average Days to Sell was 26, a difference of +18 days.
Properties Sold
During April 2024, 26 properties were sold in Findlay Creek. However, in comparison with the same period last year, April 2023 saw 35 properties sold, indicating a decrease of -25.7%. However, compared to 5 years ago in April 2019, there is a positive growth as only 20 properties were sold then, marking a difference of +30.0% from April 2024.
Long-Term Market Growth
The long-term prospects reveal an interesting trend as well. Over the past five years, sale prices for detached homes in Findlay Creek have seen a significant rise from an average of $621,084 in 2019 to the current average sales price of $974,800 in April 2024. This translates into an average increase of +1.2%, benefiting homeowners with an average equity appreciation of approximately $353,716.
Findlay Creek vs Ottawa
An interesting comparison emerges while contrasting Findlay Creek to the broader municipality of Ottawa. In April 2024, the average sale price for a detached single-family home in Ottawa was around $926,031, which is -5.0% compared to Findlay Creek’s average single-family home price of $974,800. The data indicates a potential advantage for homeowners considering a sale in Findlay Creek.
Posted Mortgage Rates
As of May 1, 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
Findlay Creek’s real estate market for April 2024 presents a mixed bag of opportunities and challenges. While the average sale price for detached single-family homes has seen a slight decline compared to last year, the long-term growth over the past five years highlights a strong upward trend in property values. The increase in the average number of days homes stay on the market suggests a more competitive environment, yet the area continues to attract buyers with its higher-than-average sale prices compared to Ottawa. As homeowners navigate these trends, staying informed and strategically planning their real estate moves will be key to maximizing their investments in Findlay Creek.
All real estate statistics in this report 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. Please note that while we strive for accuracy, all figures are believed accurate but may not be guaranteed – we are human after all!
