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Real Estate Stats for December 2023

Winchester

Date

January
2024

Winchester Real Estate Market Report – December 2023

Welcome to all Winchester residents and real estate enthusiasts! We’re thrilled to present the latest Winchester 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 Winchester.

Winchester Real Estate Market Report for December 2023

Property Prices

In Winchester, the average sale price for a detached single-family home in December 2023 was recorded at $267,077. This reflects a decrease of -42.99% compared to last year’s price of $468,500 for December 2022.

Winchester Real Estate Market Report for December 2023

Days to Sell

On the observed trend on the duration required to sell properties, the average time on the market in Winchester for December 2023 was 49 days. A change from last December’s 64 days and notably, a 10-day decrease over December 2018’s 59 days.

Properties Sold

In terms of properties sold, December 2023 saw 1 property changing hands. This represents a -75.0% change in comparison to the 4 properties sold the previous December. Interestingly, five years ago, there were 0 properties sold in December 2018, a measure not term-comparable with December 2023.

Long-Term Market Growth

An overview of the last 5 years shows only slight growth in average property prices. Sale prices for detached single-family homes are up an average of $27,087 from 2018 to the current average sales price of $267,077 in December 2023. Notably, different types of properties have seen different levels of price increase. Bungalows have seen a small decrease of -6.2%, while the average sales price for 2-Story homes and Row/Town homes have jumped by +152.9% and +198.6% respectively.

Winchester Real Estate Market Report for December 2023

Winchester vs Ottawa

Looking at the broader picture, comparing Winchester to the municipality of Ottawa unveils fascinating insights. In December 2023, the average sale price for a detached single-family home in the municipality of Ottawa stood at $808,874, significantly outpacing Winchester’s average of $267,077 by +202.9%.

Winchester Real Estate Market Report for December 2023

Posted Mortgage Rates

Regarding mortgage rates, as of November 29, 2023, the interest rates for a 1-Year term stands at 8.09%, the 3-Year term at 7.24%, and the 5-Year term at 7.04%.

Winchester Real Estate Market Report for December 2023

Conclusion

Despite the fluctuations in December 2023, Winchester’s real estate market has shown strong growth over the last five years. Paired with competitive mortgage rates, this could signal lucrative investment opportunities for aspiring homeowners and property investors alike.

Winchester 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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Andrew
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Ottawa Property Group Realty
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Born and raised in Ottawa, Andrew thrives on orchestrating strategies that ensure his clients receive unparalleled exposure. His dedication to maximizing visibility doesn’t just make him fantastic real estate agent – it makes him a valuable partner in your property journey.

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