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.