Kris Sherry's Blog

Ottawa Market Update, December 2014

Posted on: January 8th, 2015 by Kris Sherry

Happy 2015 to you all!

Members of the Ottawa Real Estate Board sold 640 residential properties in December through the Board’s Multiple Listing Service® system, compared with 609 in December 2013, an increase of 5.1 per cent. The total number of properties sold in 2014 was 13,928, an increase of 2.4% for residential units and a decline of 7.2% for condo sales when compared with 2013.

The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $345,449, an increase of 1.6 per cent over December 2013. The average sale price for a condominium-class property was $270,236 an increase of 10.1% over December 2013. The average sale price of a residential-class property was $367,286, a decrease of 0.7 per cent over December 2013.  The average residential home price, including condominiums, sold in the entire 2014 year was $361,712, an increase of 1.2% over 2013.

The listing inventory for both residential and condos trended higher throughout 2014 contributing to the market favouring Buyers for much of the year.

Every area is different so if you are considering a move – or even if you are simply curious to know what your property might be worth on today’s market, give me a call.  I’m always happy to help.  I’m also always thrilled to receive a referral from you!  Referrals are the key to success in this business!

Kris

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