Casselman Real Estate: A Comprehensive Analysis of October 2023 Stats

As the leaves turn and the air chills, the real estate market in Casselman, a quaint town in the Russell township, shows intriguing trends. This October, the market activity has been a subject of interest for both local residents and potential investors. Let's dive into the details.

Key Statistics for October 2023

• Sales Activity: There were 8 sales in October 2023.
• Dollar Volume: The total dollar volume reached $5,795,000.
• New Listings: 25 new listings emerged on the market.
• Active Listings: The month ended with 36 active listings.
• Sales to New Listings Ratio: This stood at 32.0%.
• Months of Inventory: This was calculated at 4.5 months.
• Average Price: The average price of properties was $724,375.
• Median Price: The median price was slightly lower at $716,500.
• Sale to List Price Ratio: This was 98.4%, indicating close to asking price sales.
• Median Days on Market: Properties spent an average of 15.5 days on the market.

Understanding the Trends

1. Sales Activity

With 8 sales, the market was relatively active. This number provides insight into the demand in Casselman's real estate market. While it's a modest figure, it reflects the small-town nature of Casselman, where real estate transactions are not as voluminous as in larger cities.

2. Dollar Volume and Pricing

The total dollar volume, combined with the average and median prices, indicates a healthy market with substantial investment. The closeness of the average and median prices suggests a balanced market without extreme outliers skewing the average.

3. New and Active Listings

The number of new listings versus active listings shows that while new properties are being introduced to the market, there is still a reasonable amount of inventory from previous months. This balance is crucial for maintaining a stable market.

4. Sales to New Listings Ratio

A 32.0% ratio indicates that roughly a third of the new listings were sold in the same month, a healthy turnover rate for a small market.

5. Months of Inventory

The 4.5 months of inventory is indicative of a balanced market. It's neither a strong seller's nor a buyer's market but sits comfortably in between.

6. Sale to List Price Ratio

The high sale to list price ratio of 98.4% reveals that properties in Casselman are selling very close to their asking prices, a sign of a competitive market.

7. Median Days on Market

Properties in Casselman are selling relatively quickly, with an average of just over two weeks on the market. This speed indicates strong buyer interest and a fast-moving market.

Casselman: A Desirable Locale

Casselman's real estate market is undoubtedly influenced by its charm and location. Known for its quiet, community-focused living, it offers a respite from the hustle and bustle of city life while still being close enough to urban centers like Ottawa. The town's amenities, cultural events, and natural beauty, including the South Nation River, contribute to its allure.

October 2023's real estate statistics paint a picture of a stable and healthy market in Casselman. The balance between new and active listings, alongside a reasonable average selling time and prices close to the listing prices, indicate a robust market. For those looking to invest in a community-focused, serene environment, Casselman presents itself as an appealing option.