Greetings to all Findlay Creek residents and real estate aficionados! We’re pleased to bring you the most up-to-date real estate market report for Findlay Creek for October 2023. Hop on board as we dissect the key statistical insights that will leave you well-versed with the prevailing conditions of the unique housing market in Findlay Creek.
Property Prices
As per recent records, the average sale cost for a detached single-family home in Findlay Creek for October 2023 stands at $905,000. This indicates a modest growth of 1.77% when placed side by side with last year’s aggregate cost for the same month which was $889,238.
Days to Sell
For October 2023, properties on average spent about 50 days in the market, which interestingly, aligns with both the previous year’s time span as well as the timeframe from October 2018. This reveals a considerably stable market scenario in Findlay Creek.
Properties Sold
The October 2023 housing industry saw the sale of 10 properties, marking a decrease of 41.2% from the 17 properties sold during the same month the previous year. However, when viewed in comparison to the same month five years ago, we notice a stable trend as it was also 10 properties that were sold in October 2018.
Long-Term Market Growth
Over the span of the past five years, Findlay Creek’s real estate market indicates remarkable growth. The average price of a detached single-family home has increased in price by an average of $312,425 from 2018 to an average price of $905,000 in October 2023, marking a significant increase over this time period.
Findlay Creek vs Ottawa
On comparing Findlay Creek to the entire municipality of Ottawa, the emerging trends are indeed intriguing. While the average purchase price for a detached single-family home in Ottawa was around $756,543 in October 2023, Findlay Creek was ahead by 16.4% with the average cost at a higher $905,000.
Posted Mortgage Rates
As disclosed on November 1, 2023, the interest rate for a 1-Year term tenure was recorded at 8.09%, whereas the rates for 3-Year and 5-Year terms stood at 7.24% and 7.04% respectively.
Conclusion
With a considerable appreciation in property prices, and steady timelines in closure of deals, the Findlay Creek real estate landscape throws interesting insights; hinting at being a lucrative investment option. Whether you’re a real estate enthusiast, or a potential homeowner, keeping a close watch on these trends is indeed beneficial.
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!
