Chesterville and Ottawa: Real Estate Market Comparison - October 2023

The real estate landscapes in Chesterville and Ottawa in October 2023 present a fascinating study in contrasts. By focusing on unique aspects such as "Chesterville homes for sale by owner" and "Chesterville homes for sale waterfront," this comparison offers a deeper understanding of how these two markets differ.

Sales Activity and Volume

In Chesterville, the sales activity for October was limited to just 2 sales with a total dollar volume of $825,800. This contrasted sharply with Ottawa, which saw a significantly higher number of sales, totaling 816, and a massive dollar volume of approximately $539 million. This disparity highlights the difference in market size and activity between the two areas.

Listings and Market Dynamics

Chesterville saw 3 new listings with 7 active listings, a scenario that offers a more intimate market, possibly including unique listings like "Chesterville homes for sale by owner." Ottawa, on the other hand, had 1,895 new listings and a whopping 3,062 active listings, reflecting its status as a larger, more dynamic market. The sales to new listings ratio in Chesterville was 66.7%, much higher than Ottawa's 43.1%, suggesting a more competitive market in Chesterville, potentially even for niche listings like "Chesterville homes for sale waterfront."

Pricing Trends

The average and median price of properties in Chesterville stood uniformly at $412,900. In contrast, Ottawa's average price was $660,836 with a median price of $607,000, indicating a higher overall property value. The higher prices in Ottawa might influence the market for "Chesterville homes for sale by owner," potentially making them more appealing to those seeking value.

Sale Dynamics

Chesterville's properties sold on average in just 9 days, and for more than their listing price (103.7% sale to list price ratio). This rapid turnover and competitive pricing could be an advantage for "Chesterville homes for sale waterfront." Ottawa's properties took an average of 22 days to sell, with a sale to list price ratio of 97.5%, indicating a slightly slower and less competitive market.

The October 2023 real estate market in Chesterville and Ottawa tells a story of two very different environments. Chesterville, with its potentially attractive "Chesterville homes for sale by owner" and "Chesterville homes for sale waterfront," offers a smaller, more competitive market with quick sales and high sale to list price ratios. Ottawa's market, in contrast, is larger and more varied but less competitive in terms of pricing and speed of sales. This comparison offers valuable insights for potential buyers and sellers in both regions, highlighting the unique opportunities and challenges in each market​​.