Kris Sherry's Blog

Market Update, November 2016

Posted on: December 6th, 2016 by Kris Sherry

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.

Kris

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