Ottawa Real Estate Market Snapshot November 2019
Weather isn’t Cooling the Resale Market! Highlights from the Ottawa Real Estate Board
December 4, 2019
Ottawa Real Estate Highlights November 2019
“Even with the typical winter slowdown, Ottawa’s home resale market still experienced a relatively brisk pace in November. Our inventory is not having a chance to build as it is being absorbed as quickly as it comes on the market. That’s why there are so many sales every month even though the supply stock is low,” [President of the Ottawa Real Estate Board]
AVERAGE SALE PRICE
- Members of the Ottawa Real Estate Board sold 1,288 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,161 in November 2018, an increase of 10.9 %.
- Residential: 958 Up 10.5 % from November 2018
- Condo: 330 Up 12.2 % from November 2018.
- The five-year average for November unit sales is 1,133.
MOST ACTIVE PRICE POINTS
- Condo: $313,734, an increase of 9.8 % from November 2018
- Residential: $501,201, an increase of 16.9 % November 2018.
- Year to date figures show an 8.9 % and 9.1 % increase in average sale prices for residential and condominiums, respectively.*
LUXURY MARKET IS ON THE RISE
- Condo: $225,000-$349,999, accounted for 57.5 % of the units sold
- Residential: $350,000-$499,999 accounted for 38.8 % of the units sold
- *Residential properties in the $500,000 to $749,999 range increased to 32 % 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. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.
- 65 PROPERTIES IN THE $750K-$1M range sold in November 2019 compared to 24 in November 2018. UP 41% over this time last year.
- $1M+ plus range have increased to 29 sales last month from 15 sold in November 2018, UP 30% over this time last year.
- In addition to residential sales, OREB Members assisted clients with renting 2,559 properties since the beginning of the year.
Market reports and specific property evaluations available upon request – we’d love to help! Reach out to us anytime at firstname.lastname@example.org
139 Prescott St. Kemptville, On, K0G 1J0
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.©Royal LePage TEAM REALTY
Powered by: WEBKITS
This article was first published on https://www.teamrealty.ca.