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Real Estate Stats for December 2023

Merrickville

Date

January
2024

Merrickville Real Estate Market Report – December 2023

Welcome to all Merrickville residents and real estate enthusiasts! We’re thrilled to present the latest Merrickville real estate market report for December 2023. 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 Merrickville.

Merrickville Real Estate Market Report for December 2023

Property Prices

In the realm of property price patterns, we’ve seen some noteworthy fluctuations. The average sale price for a detached single-family home in Merrickville for December 2023 stood at $350,000. It appears there isn’t available data to compare this with last year’s price.

Merrickville Real Estate Market Report for December 2023

Days to Sell

Timelines can make a significant difference in real estate deals. The average time spent on the market in Merrickville this December was approximately 37 days. Interestingly, this seems to be a substantial decrease from the average of 113 days noted five years ago in December 2018.

Properties Sold

In the past month, Merrickville saw the sale of 1 property, matching the identical number of properties sold during the same period five years ago, in December 2018.

Long-Term Market Growth

Over the last 5 years, Merrickville has experienced an average selling price increase of $31,063 from 2018, we’re currently looking at an average of $350,000 in December 2023. It’s worth noticing how the individual types of properties have also fared differently within this interval. Notably, Bungalows and Row/Town homes in this area have witnessed a more significant upsurge.

Merrickville Real Estate Market Report for December 2023

Merrickville vs Ottawa

When juxtaposing the real estate atmosphere of Merrickville against the broader municipality of Ottawa, intriguing disparities come to light. The average selling price for a detached single-family house in Ottawa for December 2023 stood at a lofty $808,874, marking a remarkable +131.1% increase compared to Merrickville’s average.

Merrickville Real Estate Market Report for December 2023

Posted Mortgage Rates

As we close-in on the year’s end, here’s an overview of the interest rates as of November 29, 2023. The interest rates for a 1-Year term stood at 8.09%, with a slight drop for 3-Year and 5-Year terms that were 7.24% and 7.04% respectively.

Merrickville Real Estate Market Report for December 2023

Conclusion

We hope this report has given you a comprehensive view of the current estate market in Merrickville. Despite some variances, one thing remains constant – the real estate market is dynamic, continually adapting and changing. Whether you’re exploring opportunities to invest, buy or sell, it’s vital to stay informed and adapt with the changing real estate landscape in Merrickville and beyond.

Merrickville Real Estate Market Report for December 2023

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!

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Jacynthe
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Ottawa Property Group Realty
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In Ottawa’s real estate scene, Jacynthe shines as a bilingual agent like no other. Her genuine commitment to helping clients, coupled with her fluency in French, English (and a little Spanish!), sets her apart and guarantees a real estate experience beyond compare.

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Ottawa Property Group Realty
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