Greetings to all Manotick dwellers, real estate aficionados, and potential buyers! As your trusted information source, we are delighted to share with you the most recent market statistics on Manotick’s residential real estate for October 2023. Today, we delve extensively into the vital statistics offering invaluable insights into what makes Manotick’s housing market unique and appealing.
Property Prices
One of the most crucial aspects of a real estate venture is understanding property pricing dynamics. In October 2023, Manotick’s median selling price for detached single-family homes stood at a hearty $863,571, marking a 5.28% increase from last October’s $820,250.
Days to Sell
The typical duration for a home on the market in Manotick for October has been 45 days, indicating a 10-day increase from October 2022. However, When compared with October 2018, the average “Days to Sell” has dropped by a noteworthy 26 days, from 71 to 45.
Properties Sold
In the thriving market of Manotick, precisely seven homes changed hands in October 2023, a healthy 40.0% surge from only five properties in October 2022. Moreover, an impressive 133.3% rise from a meager three homes sold five years ago in October 2018.
Long-Term Market Growth
Average prices increased $114,585 from 2018 to $863,571 in October 2023.
Manotick vs Ottawa
Pitting Manotick against the wider Ottawa municipality reveals fascinating insights. In October 2023, Ottawa’s average prices for a detached single-family home were $756,543, representing a -12.4% comparative deficit against Manotick’s average of $863,571.
Posted Mortgage Rates
Moving on to financials, as of November 1, 2023, the interest rates for a span of 1-Year term is standing at 8.09%, the 3-Year term at 7.24%, and the 5-Year term at 7.04%.
Conclusion
Armed with this comprehensive report, those interested in buying, selling, or just keeping up with the dynamics of Manotick’s real estate market can confidently navigate their way.
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!
