Welcome to all Osgoode residents and real estate enthusiasts! We’re thrilled to present the latest Osgoode 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 Osgoode.
Property Prices
The average sale price for a detached single-family home in September 2024 for Osgoode has been recorded at $936,875, which reflects a 6.78% increase compared to last year’s price of $877,375 for September 2023.
Days to Sell
The average time on the market in Osgoode for September was 82 days, representing an increase of 40 days from last year in September 2023. The average Days to Sell in September 2024 was 82. Compared to 5 years ago in September 2019, the average Days to Sell was 91, a difference of 9 days fewer.
Properties Sold
In September 2024, there were 5 properties sold. Last year, in September 2023, there were 8 properties sold, a difference of -37.5%. Five years ago, in September 2019, there were 6 properties sold, a difference of -16.7% from September 2024.
Long-Term Market Growth
In the last 5 years, sale prices for detached homes in Osgoode have gone from an average of $450,742 in 2019 to the current average sales price of $936,875 in September 2024. This reflects an average price increase of +9.3% per year, representing an average equity increase of approximately $486,133 for detached single-family homes in Osgoode.
To break this down further, the average sales price change for a Bungalow from 2019 to September 2024 is $225,089, a difference of +45.7%. The average sales price change for a 2-Story home from 2019 to September 2024 is $428,864, a difference of +105.4%. The average sales price change for a Row/Town home from 2019 to September 2024 is $75,000, a difference of +23.1%.
Osgoode vs Ottawa
Comparing Osgoode 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 -5.4% compared to Osgoode’s average single-family home price of $936,875.
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
The real estate market in Osgoode continues to evolve, with intriguing trends and a notable increase in property values over the long term. Keeping an eye on these statistics can be crucial for both buyers and sellers trying to make informed decisions in this dynamic marketplace.
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!
