Kris Sherry's Blog

Market Update, December 2016

Posted on: January 5th, 2017 by Kris Sherry

HAPPY NEW YEAR!!

All in all, 2016 was a great year for real estate.  Members of the Ottawa Real Estate Board sold 715 residential properties in December through the Board’s Multiple Listing Service® System, compared with 703 in December 2015, an increase of 1.7 per cent. The five-year average for December sales is 656. The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2016 was 15,537, compared with 14,653 in 2015, an increase of six per cent.

While prices remained fairly flat over the course of the year, the unit sales recorded in five separate months were the highest on record, including December.

The average sale price of a residential class property sold in December in the Ottawa area was $420,750, an increase of 8.7 per cent over December 2015. The average sale price for a condominium-class property was $262,698, an increase of 4.9 per cent over December 2015. The year-to date numbers for average residential sale price in 2016 was $397,778, an increase of 1.5 per cent over 2015. While the average condominium sale price was $260,982, an increase of 0.4 per cent over 2015.

Since every area is slightly different, please give me a call if you – or anyone you know – is thinking of making a move.  I would be delighted to help.  I do appreciate your referrals, so keep them coming!!

Kris

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