Stittsville August Market Statistics

Although, the Ottawa market is not as hot as what sellers are used to, Ottawa still maintains an incredibly strong market. For the past 5 years, while other parts of the world have suffered price drops in the Real Estate market, Ottawa has seen significant home price increases thanks to our record low interest rates, tighter mortgage rules and our military/government surroundings.
Although some buyers and sellers appear to be a little apprehensive about the market, the Ottawa market is still going strong. We are leaning toward a more balanced market as opposed to a Seller's market.  This balanced market is more "normal". Buyers and Sellers have to wrap their heads around this change which means sellers becoming a little more patient with obtaining an offer for the sale of their home and buyers not having to compete to obtain their dream home.

And now, let's take a look at the Stittsville market statistics:

A total of 160 resale homes and condominiums are currently available for purchase in Stittsville.

In the month of August, 71 resale homes (66 residential & 5 condominiums) were listed in Stittsville on the Board’s MLS® system. This number is very close to last years numbers which saw 76 resale homes listed at the same period. These numbers are however a slight decrease from July's new listing inventory which totaled 85 resale homes (82 residential & 3 condominiums). 

In the month of August, the total number of resale homes sold through the board’s Multiple Listing Service was 39 homes (39 residential & 0 condominiums) while 33 homes sold at the same period last year. (25 residential & 8 condominium)! The average number of days residential homes remained on the market in the month of August was 39 days, compared to 33 days in the month of July.


Refer to the following table for a statistical breakdown of homes listed in the month of August based on price range.
Table 1: Freehold Residential Properties listed in August.
Stittsville Market Statistics-Categorized by price range.

Information above was taken from the Ottawa Real Estate board's Multiple Listing Service on September 13, 2012.

JUNE & JULY 2012 STITTSVILLE RESALE MARKET STATISTICS

The Stittsville area is currently experiencing a high listing inventory.  A total of 144 resale homes and condominiums are available for purchase. In the month of June, 98 resale homes (88 residential & 10 condominiums) were listed in Stittsville on the Board’s MLS® system while 85 resale homes were listed in the month of July (82 residential & 3 condominiums). Those numbers demonstrate a slight decrease from May's new listing inventory which totaled 102 resale homes (96 residential & 6 condominium). 
At the same period last year, 85 resale homes (77 residential & 8 condominiums) were listed in the month of June while 84 homes (77 residential & 7 condominiums) were listed in the month of July. 
The average number of days a new listing remained on the market in the month of June was 12 days compared to 6 days in the month of July.  On average properties were selling faster in June and July compared to the month of May which on average took 16 days to sell.
On the down side, the total number of home sales decreased dramatically this summer compared to the number of resale homes sold in the month of May.  The total number of resale homes sold through the board’s Multiple Listing Service in June was 46 homes (42 residential & 4 condominiums) while only a mere 8 homes of the 85 listed in the month of July sold (8 residential & 0 condominium)!!!!   However a total of 42 homes sold in the month of July (36 Residential and 6 condominiums).  At the same period last year a total of  52 (44 residential & 8 condominium) resale properties sold in June and 49 resale properties (42 residential & 7 condominium)sold in the month of July. 

Overall, most properties seem to be sitting on the market in the Stittsville area these hot summer months! The heat wave is surely keeping residents near their pools, cottages and in their A/C homes! Could the new mortgage rules also have scared away some potential buyers, perhaps fear of rising interest rates? Sellers don't despair, we typically see an increase in home sales in the months of September and October and interest rates are predicted to remain steady for a couple more years.

Refer to the following table for a statistical breakdown of homes listed in the months of June and July based on price range.

Table 1:  Freehold Residential Properties Listed in June, 2012

Table 1:  Freehold Residential Properties Listed in July, 2012

Information above is compiled from the Ottawa Real Estate Board's Multiple Listing Services database as of August 2nd, 2012

MAY 2012, STITTSVILLE RESALE HOUSING MARKET STATISTICS

The listing inventory in Stittsville remained steady in the months of April and May, however the average number of days a house sat on the market increased.
A total of 102 resale homes were listed in Stittsville on the Board’s MLS® system in the month of May (96 residential & 6 condominium) compared with 105 in April and 103 at the same period last year.
More homes have sold last month compared to the month of April.  The total number of resale homes sold last month increased slightly with a total of 74 properties (71 residential & 3 condominium) sold in Stittsville in the month of May through the board’s Multiple Listing Service compared with 62 in the month of April. At the same period last year a total of 67 (63 residential and 4 condominium) resale properties sold.
Most sellers probably noticed their homes took a little longer to sell last month as the average number of days a house sat on the market in the month of May was 27 days, a slight increase from April's average of 21 days on the market. Overall, properties seem to be taking a little longer to sell with the summer months approaching. Refer to the following table for a statistical breakdown of homes listed in May based on price range.

Table 1:  Freehold Residential Properties Listed in May, 2012

Stittsville Market Statistics-Categorized by Price Range

 

Information above is from the Ottawa Real Estate Board as of June 18th, 2012

APRIL, 2012 STITTSVILLE RESALE HOUSING MARKET STATISTICS

A total of 105 resale homes were listed in Stittsville on the Board’s MLS® system in the month of April (102 residential & 3 condominium) compared with 111 in March and 96 at the same period last year.  This brings Stittsville’s  listing inventory down slightly from the previous month. The total number of resale homes sold last month compared to the number of home sales in March remained pretty steady with a total of 62 properties (60 residential & 2 condominium) sold in Stittsville in April through the board’s Multiple Listing Service compared with 63 in the month of March. At the same period last year a total of 60 (56 residential and 4 condominium) resale properties sold.  The number of days a residential home sat on the market in the month of April varied from  0 to 164 days with an average number of 21 days on market. Refer to the following table for a statistical breakdown of homes listed in April based on price range.

 Table 1:  Freehold Residential Properties Listed in April, 2012

  Stittsville Market Statistics-Categorized by Price Range

Information in above table is from the Ottawa Real Estate Board as of May 10th, 2012

SPRING FEVER IS IN THE AIR IN STITTSVILLE!

The early heat wave experienced by Ottawa residents in the month of March seems to  have inspired both buyers and sellers to get an early start listing and purchasing homes in the Stittsville community this year.  A total of 111 resale homes were listed in Stittsville on the Board’s MLS® system in the month of March (103 residential & 8 condominium) compared with 88 in February and 89 at the same period last year.  This brings Stittsville’s  listing inventory up 17% from the previous month. Residents also saw an increase in the total number of resale homes sold last month compared to the number of home sales in February.  A total of 63 properties (58 residential & 5condominium) sold in Stittsville last month through the board’s Multiple Listing Service compared with 27 in the month of February and 58(54 residential and 4 condominium) at the same period last year.  That’s an increase of 133% from last month’s sales and 8.6% from the same period last year!  The number of days a residential home sat on the market in the month of March varied from  1 to 232 days with an average number of 32 days on market.  Refer to the following table for a statistical breakdown of homes listed in March based on price range. 

 

Table 1:  Freehold Residential Properties Listed in March, 2012

 

Stittsville Market Statistics-Categorized by Price Range

Stittsville Real Estate Housing Statistics-February 2012

FEBRUARY, 2012

In the month of February, members of the Ottawa Real Estate Board sold a total of 27 properties (26 residential and 1 condominium) in Stittsville through the Board’s Multiple Listing Service®.  Only a slight  difference in the number of resale home sales in comparison to the previous month’s sales. At the same period last year, a total of 21 properties (20 residential and 1 condominium) were sold. The number of new listings that came on the market in Stittsville in the month of February jumped again for the 2nd consecutive month this year! A total of 85 (79 residential and 6 condominium) properties were listed on the Board’s MSL® system in the month of February.

Stittsville Real Estate Housing Statistics-January, 2012

JANUARY, 2012

Members of the Ottawa Real Estate Board sold a total of 26 properties (25 residential and 1 condominium) in Stittsville in the month of January through the Board’s Multiple Listing Service®.  At the same period last year, a total of 31 properties (29 residential and 2 condominium) were sold. Stittsville has not seen much of a change in the number of resale homes sold in January of this year compared with last year’s sales at this time.  Stittsville residents did however see a significant 230%  increase in the number of new listings that came on the market in the month of January in comparison to the previous month!!! A total of only 20 properties were listed in December on the Board’s MLS® system compared with a total of 66 (63 residential and 3 condominium) properties listed in the month of January.  This is great news for buyers….no lack of  properties to choose from.