Welcome to all Findlay Creek residents and real estate enthusiasts! We’re thrilled to present the latest Findlay Creek real estate market report for September 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 September 2024 for Findlay Creek has been recorded at $931,000, which reflects a -5.76% drop compared to last year’s price of $987,867 for September 2023.
Days to Sell
The average time on the market in Findlay Creek for September was 51 days, an increase of 15 days from the previous year in September 2023. Compared to 5 years ago in September 2019, the average Days to Sell was 26, marking a difference of +25 days.
Properties Sold
In September 2024, there were 10 properties sold. Last year, in September 2023, there were 17 properties sold, reflecting a substantial decrease of -41.2%. Interestingly, 5 years ago, in September 2019, there were also 10 properties sold, showing no change from September 2024.
Long-Term Market Growth
Over the last 5 years, sale prices for detached homes in Findlay Creek have surged from an average of $621,084 in 2019 to $931,000 in September 2024. This represents an average difference of +2.5%, translating into an increase of approximately $309,916 in equity for detached single-family homes in Findlay Creek.
To break this down, the average sales price change for a Bungalow from 2019 to September 2024 is $173,275, a difference of +32.2%. For a 2-Story home, the change is $221,990, or +43.7%. The Row/Town home segment saw an increase of $212,241, marking a +49.1% change.
Findlay Creek vs Ottawa
Comparing Findlay Creek to the broader municipality of Ottawa, we observe some fascinating trends. In September 2024, the average sale price for a detached single-family home in Ottawa was approximately $886,417, which is -4.8% lower than Findlay Creek’s average single-family home price of $931,000.
Posted Mortgage Rates
As of October 9, 2024, the interest rates are as follows: 7.24% for a 1-Year term, 6.54% for a 3-Year term, and 6.49% for a 5-Year term.
Conclusion
The Findlay Creek real estate market continues to evolve, with noticeable trends in property prices, days to sell, and market growth compared to Ottawa. Whether you are a potential buyer or seller, these insights should help you make informed decisions in this dynamic market.
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!
