Archives for Statistics

November Blues? Not in the real estate market…

Members of the Ottawa Real Estate Board sold 1,239 residential properties in November through the Board’s Multiple Listing Service System compared with 992 in November 2016, an increase of 24.9 percent. The five-year average for November sales is 1,001. The Office of the Superintendent of Financial Institution’s (OSFI) announcement regarding the new stress tests for low-ratio borrowers may have buyers rushing into the market before the stricter mortgage regulations come into play in January 2018. The average sale price of a residential-class property sold in November in the Ottawa area was $418,354, an increase of 3.2 percent over November 2016.
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Steady September contributes to strong third quarter for 2017

Members of the Ottawa Real Estate Board sold 1,387 residential properties in September through the Board’s Multiple Listing Service System, compared with 1,365 in September 2016, an increase of 1.6 percent. The five-year average for September sales is 1,250. There does not appear to be any slowdown in the condo market. Sales have been increasing in this property class since February, with the average increase in this property class since February, with the average increase per month coming in at 25.5 percent. Inventory levels and the number of new listings continue to tighten compared to the same time last year,
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Condo sales drive the Ottawa resale market in July

Members of the Ottawa Real Estate Board sold 1,530 residential properties in July through the Board’s Multiple Listing Service System, compared with 1,490 in July 2016, an increase of 2.7 per cent. The five-year average for July is 1,446. Year to date, there have been 10,825 properties sold on MLS compared to 9,771, an 11.8 percent increase. The Ottawa resale market continues its steady pace into mid-summer, with condo sales really bolstering the market this past month, a continuing positive trend since February. July’s sales included 332 in the condominium property class, (an increase of over 19 percent compared to
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2016 proves to be a record-breaking year for Ottawa resales

Members of the Ottawa Real Estate Board sold 715 residential properties in December through the Board’s Multiple Listing Service® System, compared with 703 in December 2015, an increase of 1.7 percent. The five-year average for December sales in 656. The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2016 was 15,537, compared with 14,653 in 2015, an increase of six percent. While prices remained fairly flat over the course of the year, the unit sales recorded in five separate months were the highest on record, including December. The spring market picked up
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Inventory levels trending downwards in November

Members of the Ottawa Real Estate Board sold 995 residential properties in November through the Board’s Multiple Listing Service® System, compared with 986 in November 2015, an increase of 0.9 per cent. The five-year average for November sales is 939. The condo market appears to be on the rise now, a welcome change compared to earlier in the year, with sales coming in at 16.2 per cent higher than November 2015. Several factors could have contributed to this increase – inventory levels trending downwards, steady prices, or buyers affected by the newly changed mortgage rules. The cumulative days on market
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Condo sales lead the way

Members of the Ottawa Real Estate Board sold 1,214 residential properties in October through the Board’s Multiple Listing Service® System, compared with 1,159 in October 2015, an increase of 4.7 per cent. The five-year average for October sales is 1,130. While residential sales are identical to that of October 2015, condominium sales have soared – up by 27.2 per cent over last year. Lower inventory levels, combined with adjusting prices, may be creating these higher than normal activity levels in the condo property class. The average sale price of a residential-class property sold in October in the Ottawa area was
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September was another active month

Members of the Ottawa Real Estate Board sold 1,371 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,241 in September 2015, an increase of 10.5 per cent. The five-year average for September sales is 1,171. Units listed in both residential and condominium property classes continue to decline, from 2,076 listed in September 2015 to 1,822 listed in September 2016 for residential properties, and from 637 listed in September 2015 to 588 listed in September 2016 for condominium sales. With fewer listings coming on to the market, combined with recent higher unit sales, overall inventory is
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Record-breaking year to date for Ottawa resales

Members of the Ottawa Real Estate Board sold 1,484 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,276 in August 2015, an increase of 16.3 per cent. The five-year average for August is 1,265. To date, this has been a record breaking year for units sold. The average sale price of a residential-class property sold in August in the Ottawa area was $389,786 an increase of 2.5 per cent over August 2015. The average sale price for a condominium-class property was $272,166, an increase of 11.1 per cent over August 2015. This past month, there
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Summer resales sizzle in a hot July

Members of the Ottawa Real Estate Board sold 1,491 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,430 in July 2015, an increase of 4.3 per cent. The five-year average for July sales is 1,717. Sales continue to outpace 2015 numbers both in monthly and year-to-date comparisons. However, we are seeing the typical summer slowdown in July compared to June’s record-breaking numbers. Units listed in both residential and condominium property classes have declined throughout the year, which has affected overall inventory levels. The number of active listings at the end of July 2016 is down
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March Resale Market Springs Into Action

Members of the Ottawa Real Estate Board sold 1,166 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,200 in March 2015, a decrease of 2.8 per cent. The five-year average for March sales is 1,220. Homes are starting to sell faster, indicating that we are heading into our busy spring market! In March, 3,203 homes were listed, up 38.6 per cent since February, and inventory on hand at the end of March also rose by 17.5 per cent from last month. Although there is a slight dip in units sold compared to last year, average
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