Market Update, November 2016
Members of the Ottawa Real Estate Board sold 995 residential properties in November through the Board’s Multiple Listing Service® System, compared with 986 in November 2015, an increase of 0.9 per cent. The five-year average for November sales is 939.
After a few very busy months, the Ottawa market has settled down to a more typical November. Very welcome news is that the condo market seems to be on the rise with sales for November 2016 16.2% higher than the same time last year. This has been an exceptional year for Ottawa real estate with year-to-date unit sales at the end of November higher than ever for the same time period.
The average sale price of a residential-class property sold in November in the Ottawa area was $405,320 – an increase of 6.5% over November, 2015. The average sale price for a condominium-class property was $277,650, an increase of 1% over November, 2015.
Every neighbourhood is slightly different – so if you are interested in knowing what your house might be worth – or even the one down the street – do give me a call. I’d be happy to chat with you.
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From Kris' Blog
Temperatures may be falling, but the Ottawa real estate market is thriving! Members of the Ottawa Real Estate Board sold 1,243 residential properties in October through the Board’s Multiple Listing Service® System, compared with 1,214 in October 2016, an increase of 2.3%. The five-year average for October sales is 1,165. Condominium sales are up 21.4% ...