Ottawa Real Estate Monthly Report Month Of May, 2017
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The number of sold properties in Ottawa in April 2017, 312 condominiums and 1,483 residential properties, the total of 1,795 compared with 1,711 in April 2016 an increase of 4.9%.
The average sale price for condominium-class property was $268,553 an increase of 2.9% from April 2016.
The average sale price for residential-class property was $435,883an increase of 7.9% from April 2016.
“Sales activity is indicating a trend towards a seller’s market, The April resale market continued its upward trend in units sold, and it will continue in month of May. The Ottawa Market never been as hot as April and May since 2010. The number of sold units over $500,000 is increasing. Lower inventory, combined with increased demand, is creating many more multiple offer situations and quicker moving properties. The increase in sales for high-end properties may be fuelled by a combination of the migration of buyers from Toronto and move-up buyers. Another contributing factor is that many, generally well paying jobs are opening up in the high-tech sector, driving more people into the Ottawa market.”
The average sale price for condominium-class property was $268,553 an increase of 2.9% from April 2016.
The average sale price for residential-class property was $435,883an increase of 7.9% from April 2016.
“Sales activity is indicating a trend towards a seller’s market, The April resale market continued its upward trend in units sold, and it will continue in month of May. The Ottawa Market never been as hot as April and May since 2010. The number of sold units over $500,000 is increasing. Lower inventory, combined with increased demand, is creating many more multiple offer situations and quicker moving properties. The increase in sales for high-end properties may be fuelled by a combination of the migration of buyers from Toronto and move-up buyers. Another contributing factor is that many, generally well paying jobs are opening up in the high-tech sector, driving more people into the Ottawa market.”
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