Fallingbrook and Ridgemount Real Estate Market Update November 2023

In this report, we delve into the dynamic real estate landscape of the Fallingbrook/Ridgemount area and the broader Ottawa region as of November 2023. Our comprehensive analysis focuses on various critical metrics including sales activity, price trends, inventory levels, and market dynamics. This insightful overview provides a clear picture of the current real estate market, catering to the interests of potential buyers, sellers, and investors. By examining the latest data, we aim to offer a nuanced understanding of the market trends and their implications in these locales.

Fallingbrook/Ridgemount Area

• November 2023

  • Average Price: $577,300
  • Median Price: $514,000
  • Sale to List Price Ratio: 101.7%
  • Median Days on Market: 15 days
  • Sales Activity:
    • Sales: 49
    • Dollar Volume: $32,135,801
    • New Listings: 77
    • Active Listings: 7
    • Sales to New Listings Ratio: 63.6%
    • Months of Inventory: 1.5 months

• MLS® HPI Benchmark Price (Nov 2023)

  • Composite Benchmark Price: $641,400
  • Change from Previous Periods:
    • 1 month ago: -3.4%
    • 3 months ago: -5.9%
    • 6 months ago: -6.9%
    • 12 months ago: -1.7%
    • 3 years ago: +14.0%

Ottawa Region

• Sales Activity (Nov 2023)

  • Total Sales: 724 units
  • Change from Nov 2022: -1.6%

• Year-to-Date Sales Activity

  • Total Sales: 11,421 units
  • Change from 2022: -11.7%

• Prices and Inventory

  • MLS® HPI Composite Benchmark Price: $628,900 (up 1.4% from Nov 2022)
  • Single-Family Homes Benchmark Price: $708,900 (up 1.6% from Nov 2022)
  • Townhouse/Row Unit Benchmark Price: $492,300 (up 0.8% from Nov 2022)
  • Apartment Benchmark Price: $424,300 (up 1.2% from Nov 2022)
  • Average Price of Homes Sold: $633,138 (down 0.8% from Nov 2022)
  • Year-to-Date Average Price: $669,536 (down 5.7% from 2022)

• Inventory and New Listings

  • New Listings: 1,428 (up 2.7% from Nov 2022)
  • Active Residential Listings: 2,752 units (up 15.8% from Nov 2022)
  • Months of Inventory: 3.8 months (up from 3.2 months in Nov 2022)

To conclude, the real estate statistics for November 2023 in the Fallingbrook/Ridgemount area and the broader Ottawa region present a multifaceted market scenario. While certain segments of the market are witnessing price increases, others are experiencing declines, highlighting the market's complexity. The substantial increase in active listings suggests a trend towards a more buyer-friendly market, offering a wider array of choices. This report's analysis underscores the importance of understanding localized market conditions in making informed real estate decisions. Whether you are a potential buyer, a current homeowner, or an investor, these insights are pivotal in navigating the ever-evolving real estate landscape of Ottawa.