Ottawa Market Update – August 2017
Members of the Ottawa Real Estate Board sold 1,538 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,481 in August 2016, an increase of 3.8 per cent. The five-year average for August sales is 1,343.
Condo sales continue to strengthen the Ottawa resale market. In comparison to last year the number of condo units sold was up 22.1 per cent, whereas residential units have held steady.
Residential listings are selling almost 30 per cent faster than this time last year, and condo units are selling just over 10 per cent faster than last year. Inventory has continued in a steady downward trend.
The average sale price of a residential class property sold in August in the Ottawa area was $420,335, an increase of 7.6 per cent over August 2016. The average sale price for a condominium-class property was $270,768, a decrease of 0.4 per cent over August 2016.
Don’t forget that every neighbourhood is slightly different. If you are thinking of buying or selling, please give me a call and I would be more than happy to help.
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