Welcome to all Manotick residents and real estate enthusiasts! We’re thrilled to present the latest Manotick 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 Manotick.
Property Prices
The average sale price for a detached single-family home in September 2024 for Manotick has been recorded at $1,237,833, which reflects a 4.74% increase compared to last year’s price of $1,181,800 for September 2023.
Days to Sell
The average time on the market in Manotick for September was 77 days, representing an increase of 11 days from last year in September 2023. The average Days to Sell in September 2024 was 77. Compared to 5 years ago in September 2019, the average Days to Sell was 83, a difference of 6 days less.
Properties Sold
In September 2024, there were 14 properties sold. In September 2023, there were 11 properties sold, showing a difference of +27.3%. Five years ago, in September 2019, there were 6 properties sold, a difference of +133.3% from September 2024.
Long-Term Market Growth
In the last 5 years, sale prices for detached homes in Manotick have gone from an average of $777,986 in 2019 to the current average sales price of $1,237,833 in September 2024. This reflects an impressive equity increase of approximately $459,848 for detached single-family homes in Manotick.
To break this down further, the average sales price change for a Bungalow from 2019 to September 2024 is $119,508, a difference of +16.9%. Meanwhile, the average sales price change for a 2-Story home from 2019 to September 2024 is $745,833, a difference of +88.7%. The average sales price change for a Row/Town home from 2019 to September 2024 is N/A, indicating limited data on this housing type.
Manotick vs Ottawa
Comparing Manotick 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 -28.4% compared to Manotick’s average single-family home price of $1,237,833.
Posted Mortgage Rates
As of October 9, 2024, the interest rates for a 1-Year term are 7.24%, the 3-Year term is 6.54%, and the 5-Year term is 6.49%.
Conclusion
The real estate market in Manotick continues to show robust growth and resilience. With rising property prices and a demand increase reflected in the number of properties sold, Manotick remains a competitive and attractive option for homebuyers. Despite the longer days on the market and rising mortgage rates, this region offers a unique appeal and potential for significant long-term investment gains. Stay informed and keep an eye on this evolving 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!
