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
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From Kris' Blog
Ottawa MLS® Market Shows Early Signs of a Buzzing Spring Market
The number of homes sold through the MLS® System of the Ottawa Real Estate Board totaled 1,165 units in March 2024. This was an increase of 10% from March 2023. Home sales were 21.5% below the five-year average and 15% below the 10-year average for the month of March. On a year-to-date basis, home sales ...
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