Welcome to all Kemptville residents and real estate enthusiasts! We’re thrilled to present the latest Kemptville 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 Kemptville.
Property Prices
The average sale price for a detached single-family home in September 2024 for Kemptville has been recorded at $574,995, which reflects a decrease of 7.23% compared to last year’s price of $619,817 for September 2023.
Days to Sell
The average time on the market in Kemptville for September was 88 days, representing an increase of 32 days from last year in September 2023. Compared to 5 years ago in September 2019, the average Days to Sell was 71, marking a difference of 17 days.
Properties Sold
In September 2024, there were 12 properties sold. Last year, in September 2023, there were 7 properties sold, illustrating a 71.4% increase. Five years ago, in September 2019, there were 4 properties sold, marking a remarkable 200.0% increase from September 2024.
Long-Term Market Growth
In the last 5 years, sale prices for detached homes in Kemptville have gone from an average of $378,345 in 2019 to the current average sales price of $574,995 in September 2024. This represents an equity increase of approximately $196,650 for detached single-family homes in Kemptville.
To break this down further, the average sales price change for a Bungalow from 2019 to September 2024 is $129,555, a rise of 33.2%. The average sales price change for a 2-Story home from 2019 to September 2024 is $201,406, a difference of 57.8%. Lastly, the average sales price change for a Row/Town home from 2019 to September 2024 is $247,501, an increase of 80.4%.
Kemptville vs Ottawa
Comparing Kemptville to the broader municipality of Ottawa, we find fascinating trends emerging. In September 2024, the average sale price for a detached single-family home in the municipality of Ottawa was around $886,417. This is 54.2% higher compared to Kemptville’s average single-family home price of $574,995.
Posted Mortgage Rates
As of October 9, 2024, the interest rates for a 1-Year term is 7.24%, the 3-Year term is 6.54%, and the 5-Year term is 6.49%.
Conclusion
In this constantly evolving market, Kemptville presents an intriguing blend of affordability and growth potential. Whether you’re considering buying, selling, or investing, understanding these trends is crucial for making informed decisions. Stay tuned as we continue to track the latest developments that impact 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!
