Ottawa Real Estate Snapshot: October 2019
Based on information from on the Ottawa Real Estate Board November 5th, 2019
“New listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half,” reports President of the Ottawa Real Estate Board. “It’s perplexing at first; however, when you consider the current breakneck transaction pace in the Ottawa resale market, often requiring homebuyers and sellers to make swift decisions, it makes sense.”
Properties are “flying off the shelves, so to speak.” –OREB President
“We are seeing slightly above-average climbs in home prices this year, and the equity in many properties is undoubtedly increasing, which is great news for homeowners. Still, the growths are reasonable considering the state of the market and Ottawa retains its reputation of being one of the country’s most affordable cities where residents can enjoy a high quality of life,” OREB president
The most active price range in the condominium market was $225,000-$349,999, accounting for 53 per cent of the units sold while $350,000 to $499,999 represented the most prevalent price point in the residential market, accounting for 43 per cent of October’s transactions. Residential properties in the $500,000 to $749,999 range increased to 30 per cent of all residential resales.
* Average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. Price and conditions will vary from neighbourhood to neighbourhood. Interested in Market Stats for a certain property or neighbourhood? Contact us anytime!
The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner.
powered by WEBKITS