Ottawa vs Embrun with Focus on Embrun Homes for Sale

The Canadian real estate landscape offers a rich tapestry of diverse markets, each with its unique characteristics and trends. A case in point is the October 2023 comparison of real estate statistics between Ottawa, the bustling capital city, and Embrun, a quaint and charming town. This article pays special attention to the trends in Embrun homes for sale by owner and new Embrun homes for sale, juxtaposing them with Ottawa's market dynamics.

Ottawa Real Estate in October 2023

In October 2023, Ottawa’s real estate market was marked by robust activity. With 816 sales and a total dollar volume nearing $539 million, the market dynamics reflected the city's status as a major urban center. The average price of a property was $660,836, and the median price was $607,000.

The city saw 1,895 new listings with 3,062 active listings. The sales-to-new listings ratio stood at 43.1%, showing a steady absorption rate of new properties. The months of inventory were calculated at 3.8, indicating a balanced market. The sale to list price ratio was 97.5%, and properties were staying on the market for an average of 22 days, demonstrating a healthy turnover rate​​.

Embrun Real Estate in October 2023

Turning our focus to Embrun, particularly trends in Embrun homes for sale by owner and new Embrun homes for sale, we observed a vibrant but distinctly different market. The total sales were 10 properties, amounting to a dollar volume of about $4.95 million. The average price for Embrun homes stood at $495,140, with the median at $468,200, indicating a more accessible market compared to Ottawa.

There were 23 new listings in Embrun, and the sales to new listings ratio was slightly higher at 43.5%, indicating a healthy demand, especially for new Embrun homes for sale. The months of inventory were at 6.2, suggesting a market with a slight inclination towards buyers, which is advantageous for those looking at Embrun homes for sale by owner. The sale to list price ratio was notably high at 98.7%, and the median days on market were 20, indicating a quick market movement, a trend that is particularly relevant for sellers of new Embrun homes for sale​​.

Russell Real Estate in October 2023

In the neighboring area of Russell, the real estate market showed its unique character. There were 8 property sales in October 2023, with a total dollar volume of around $5.79 million. The average price in Russell was $724,375, showcasing a market segment that is more premium than both Ottawa and Embrun.

Russell had 25 new listings and 36 active listings. The sales to new listings ratio was 32.0%, indicating a less competitive market compared to Embrun, especially for Embrun homes for sale by owner. The months of inventory in Russell were 4.5, pointing towards a balanced market. The sale to list price ratio was 98.4%, and the median days on market were 15.5, showing a faster turnover of properties compared to the market for new Embrun homes for sale​​.

The October 2023 real estate statistics illuminate the contrasting markets of Ottawa, Embrun, and Russell. Ottawa's market reflects the dynamics of a major city with balanced supply and demand. Embrun, with a focus on Embrun homes for sale by owner and new Embrun homes for sale, offers more affordable and slightly buyer-friendly options. Russell caters to a higher-end market segment. Each area presents unique opportunities, making the real estate market a diverse and dynamic field for both buyers and sellers.