Ottawa Real Estate Monthly Report Dec, 2020
Changes in Number: The total number of sold residential properties in November 2020 was 1,611 compared with 1,284 in November 2019, an increase of 26% . In addition to residential and condominium sales, we observed an increase of 22% in renting market, 3,120 properties since the beginning of the year compared to 2,559 at this time last year.
Changes in Price and YTD gain: The average sale price for residential-class property was $602,892 an increase of 20% from November 2019. The average sale price for condominium-class property was $361,758 an increase of 15% from November 2019.
In November 2020, we saw a sharp increase of 19-20% gain in YTD (Year to date), compared to 9% in November 2019 and 3-5% in November 2018 for both property classes.
Pandemic impact: "Despite the pandemic, Ottawa’s real estate market experiences strong activity during the time of year when there is typically a slowdown."
Housing market supply and demand: Although new listings were up almost 400 units compared to last November, the residential housing stock is still 50% lower than last year at this time.
The role of an Experienced Agent in Real Estate Activities is now more critical than ever: Considering the fact that the resale market continues to experience multiple offers and bidding wars, buyers and sellers need the guidance, knowledge and experience of an agent who has maneuvered through this many times, "Now more than ever".
If you are interested to know about any neighbourhoods in Ottawa, or If you are thinking of buying or selling your house, call us anytime for a FREE PRICING EVALUATION, it is never too early or too late to speak to us. We look forward to your call. 613-366-1713.
iDeal Properties Realty
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| Nov 2020 | Nov 2019 | # of Sale | # of Sale Increase | |
|---|---|---|---|---|
| Residential | $602,892 (+20%) | $502,711 | 1,209 | +27% |
| Condominium | $361,758 (+15%) | $314,572 | 402 | +23% |
| Total Sale | 1,611 | +26% |
Changes in Number: The total number of sold residential properties in November 2020 was 1,611 compared with 1,284 in November 2019, an increase of 26% . In addition to residential and condominium sales, we observed an increase of 22% in renting market, 3,120 properties since the beginning of the year compared to 2,559 at this time last year.
Changes in Price and YTD gain: The average sale price for residential-class property was $602,892 an increase of 20% from November 2019. The average sale price for condominium-class property was $361,758 an increase of 15% from November 2019.
In November 2020, we saw a sharp increase of 19-20% gain in YTD (Year to date), compared to 9% in November 2019 and 3-5% in November 2018 for both property classes.
Pandemic impact: "Despite the pandemic, Ottawa’s real estate market experiences strong activity during the time of year when there is typically a slowdown."
Housing market supply and demand: Although new listings were up almost 400 units compared to last November, the residential housing stock is still 50% lower than last year at this time.
The role of an Experienced Agent in Real Estate Activities is now more critical than ever: Considering the fact that the resale market continues to experience multiple offers and bidding wars, buyers and sellers need the guidance, knowledge and experience of an agent who has maneuvered through this many times, "Now more than ever".
If you are interested to know about any neighbourhoods in Ottawa, or If you are thinking of buying or selling your house, call us anytime for a FREE PRICING EVALUATION, it is never too early or too late to speak to us. We look forward to your call. 613-366-1713.
iDeal Properties Realty
1730 St. Laurent Blvd. Suite # 800
Ottawa, Ontario, K1G 5L1
613-366-1713
www.iDealPropertiesRealty.com
Email to: info@iDealPropertiesRealty.com
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