Manotick Has Largest Decline In Ottawa Property Value
A study done by Labrosse Real Estate Group of Ottawa and the surrounding communities in Eastern Ontario has shown that Manotick homes had the largest drop in value in the region in 2022.
Labrosse Real Estate Group ran the study to analyze the data of real estate sales in 2022 to find out which communities gained the most value and which community were the “biggest losers.”
“The study analyzed all of the sales that the Labrosse Real Estate Group made in 2022 in combination with all the sales data found in the MLS real estate database,” stated Nick Labrosse of Labrosse Real Estate Group, which is headquartered in Orleans.
Labrosse Real Estate’s study found that amongst all the neighbourhoods in the greater Ottawa area, Carp had the most significant increase in average home value. With a mega gain of 15.20% compared to the average of -0.40%. Perth and Carleton Place comes in a close second place with a massive gain of 14.40%. Rockland & Casselman come in third place with an impressive gain of 12.50%.
All these numbers are impressive, considering most areas of Ottawa came near breaking even with an average of -0.40%
Two areas have losses. Among all neighbourhoods in the greater Ottawa area, Manotick had the most significant loss, with a 4.2% decrease in home value. Alexandria has the only other loss, with only a 0.5% loss.
The average sales price in Manotick for all of 2022 is $1,067,000 compared to the 2021 average sale price of $1,114,000, resulting in a loss of -4.60%.
Results for surrounding villages like Richmond, North Gower, Osgoode and Greely were not included in the results provided by Labrosse. However, Metcalfe was included, and showed a gain in the value of the average home. The average sales price in Metcalfe, for all of 2022 is $932,500 compared to the 2021 average sale price of $889,000, resulting in a gain of 4.90%.
The Messenger reached out to Labrosse for more information on the study and what factors may have led to the poor showing by Manotick, but our emails and phone calls were not returned before press time.
