Ottawa Market – May 2017
The Spring Market continues to bloom! Members of the Ottawa Real Estate Board sold 2,300 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,919 in May 2016, an increase of 19.9 per cent. The five-year average for May sales is 1,946. May 2017 was the best month EVER for unit sales, thanks in part to the condo market where sales have increased significantly.
Inventory levels are lower than normal and we are seeing more multiple offer situations and fewer days on market. Prices, however, remain relatively steady. The average sale price of a residential-class property sold in May in the Ottawa area was $436,625, an increase of 7.4 per cent over May 2016. The average sale price for a condominium-class property was $270,993, an increase of 2.3 per cent over May 2016. Higher end residential property sales have almost doubled over May 2016.
Don’t forget that every area is different. If you are thinking of buying or selling, please do give me a call.
Thanks for your referrals – they contribute significantly to the success of my business.
Kris
Leave a Reply
From Kris' Blog
Modest Gains Across Ottawa’s MLS® Market a Sign of Shared Confidence
The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,456 units in April 2024. This was an increase of 8.9% from April 2023. Home sales were 2% below the five-year average and 6.9% below the 10-year average for the month of April. On a year-to-date basis, home ...
Recent Tweets
-
RT @OttawaFestivals: In the mood for a scary movie, maybe something for the whole family? The Drive In Experience has got you covered at… https://t.co/okOLjzpXG8
-
RT @Ottawa_Tourism: Ice cream lovers this list is for you! 😋 🍨 Our top picks for ice cream goodness in Ottawa -order online for backyar… https://t.co/Wmkkwgj7Cw