The real estate market in Manotick was thriving in July 2023. Let’s take a quick look at Manotick’s unique market and jump into some incredible statistics that help make this beautiful community a wonderful place to own a home!
Property Prices
In the past year, the median property price in Manotick has increased significantly by 30.5%, reaching an impressive $1,287,535. This growth is remarkable and indicates a highly desirable market for homeowners and investors alike.
Long-Term Market Growth
Since 2018, there has been a 97.7% increase in property prices, an astounding growth rate that reflects the attractiveness of Manotick as a residential area.
Days to Sell
The average time it takes to sell a property in Manotick has remained steady at 65 days, demonstrating a stable and reliable market.
Properties Sold
Comparing July 2023 to the same month in 2018, we see a notable increase in the number of properties sold, with 11 properties changing hands in July compared to only 8 in July 2018. This represents a 37.5% increase, further highlighting the strong demand and popularity of the Manotick real estate market.
Manotick vs Ottawa
When looking at the broader Ottawa market, Manotick stands out with its higher median property price of $1,287,535 compared to the citywide median of $916,336. While this may seem like a substantial difference, it is important to note that Manotick offers a unique living experience with its picturesque surroundings, desirable amenities, and excellent access to Ottawa.
Posted Mortgage Rates
As of August 2, 2023, the interest rates for 1, 3, and 5-year terms in Manotick stand at 7.79%, 6.95%, and 6.79% respectively.
Conclusion
Overall, the real estate market in Manotick is robust and shows no signs of slowing down. With its steady price growth, reasonable time to sell, and comparably higher property prices in the Ottawa region, Manotick remains an attractive location for homeowners and investors seeking a beautiful and thriving community to call home.
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!
