Condo Sales Ottawa

December 17, 2016 Facebook Twitter LinkedIn Google+ Uncategorized

2000 Jasmine Crescent 212, Ottawa

Condo Sales Ottawa Trend Upward

Members of the Ottawa Real Estate Board sold 995 private properties in November through the Board’s Multiple Listing Service® System, in contrasted to 986 in November 2015, an increase of 0.9 %. The five-year normal for November deals is 939.

“Following a couple of breakaway months, the Ottawa resale market has returned to normal levels typically of November,” says new Ottawa Real Estate Board President, Rick Eisert. ” The condo market appears to be on the rise now, a much-needed development contrasted with earlier in the year, with deals coming in at 16.2 % higher than November 2015. A few variables could have added to this expansion – inventory levels slanting downwards, unfaltering costs, or buyers influenced by the recently changed mortgage loan rules.”

201 Parkdale Avenue 703, Ottawa
201 Parkdale Avenue 703, Ottawa

November’s sales included 230 in the Condo suite property class and 765 in the private residential class. The townhouse property class incorporates any property, paying little mind to style (i.e. detached, semi-detached, apartment, townhouse, etc…), which is registered as a condominium, and additionally properties which are co- operatives, life leases, and timeshares. The private property class incorporates all other residential properties.

Year-to-date Stats

“Year-to-date unit deals to the end of November have now outperformed all earlier year-end totals,” explains Eisert. “This year has been a remarkable year for sales for Ottawa Real Estate Board Members, and the year isn’t even over yet. The cumulative days on the market have demonstrated a consistent decrease for the initial six months of the year, then has shown the same steady upsurge, so that the cumulative days on the market in November (105 days) reflected that of January (110 days).”

The average sale price of a residential-class property sold in November in the Ottawa area was $405,320 an increase of 6.5 % over November 2015.  The Board alerts that average sale price data can be helpful in setting up patterns after some time yet ought not be utilized as a marker that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

Price Points

“In the housing market, the two most compelling price points were $300,000 to $399,999 and after that $400,000-$499,999 for the month of November, representing 50.3 % of the market. The condo market was most active in the $150,000 to $249,999 value range, representing 55.2% of the market,” says Eisert. “Notwithstanding residential and condominium sales, OREB Members have helped customers with leasing more than 2,900 properties since the start of the year.” Learn more about the difference Buyers Agent and Sellers Agent in Ottawa

Information courtesy Ottawa Real Estate Board

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