Welcome to all Findlay Creek residents and real estate enthusiasts! We’re thrilled to present the latest Findlay Creek real estate market report for August 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 Findlay Creek.
Property Prices
The average sale price for a detached single-family home in August 2023 for Findlay Creek has been recorded at $925,571, reflecting a 6.85% increase compared to last year’s price of $866,250 in August 2022.
Days to Sell
The average time on the market in Findlay Creek for August was 104 days, representing an increase of 57 days compared to August 2022. In August 2018, the average Days to Sell was 50, making a difference of +54 days.
Properties Sold
In August 2023, there were 14 properties sold in Findlay Creek, an increase of 55.6% compared to August 2022 when 9 properties were sold. However, this number has decreased by 22.2% compared to August 2018 when 18 properties were sold.
Long-Term Market Growth
Over the past 5 years, the sale prices for detached single-family homes in Findlay Creek have experienced significant growth. In 2018, the average sale price was $332,996, and in August 2023, it reached an average of $925,571, reflecting a remarkable increase of 177.95%.
Different Home Types
When comparing the changes in average sales prices among different home types, the data reveals interesting insights. From 2018 to August 2023:
- The average sales price for a detached single-family home increased by $332,996, a difference of +56.2%.
- The average sales price for a Bungalow increased by $473,309, a difference of +106.2%.
- The average sales price for a 2-Story home increased by $332,879, a difference of +73.2%.
- The average sales price for a Row/Town home increased by $221,456, a difference of +57.1%.
Findlay Creek vs Ottawa
Comparing Findlay Creek to the broader municipality of Ottawa, there are notable differences. In August 2023, the average sale price for a detached single-family home in Ottawa was around $753,096, which is 18.6% lower compared to Findlay Creek’s average single-family home price of $925,571.
Posted Mortgage Rates
As of September 6, 2023, the interest rates for mortgages varied. The 1-Year term interest rate stood at 7.89%, the 3-Year term at 7.04%, and the 5-Year term at 6.84%.
Conclusion
The Findlay Creek real estate market in August 2023 showcased strong property price growth and an increase in properties sold compared to the previous year. Homebuyers witnessed a significant appreciation in the value of detached single-family homes over the last five years. However, Findlay Creek’s average sale price for a detached single-family home surpasses that of the broader municipality of Ottawa. For up-to-date and accurate information on the market, it is always recommended to consult professionals in the real estate industry.
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!
