November sales up slightly over last
year
Members of the Ottawa Real Estate Board sold 893
residential properties in November through the Board's Multiple Listing Service®
system, compared with 888 in November 2013, an increase of 0.6 per cent. The
five-year average for November sales is 935.
"Sales have been remarkably
similar to last year overall, with units sold for the first eleven months of the
year at 13,291, just slightly above the year-to-date sales for 2013," says Randy
Oickle, President of the Ottawa Real Estate Board. "Inventory levels are
starting to dip back down, which is normal for this time of year, and average
sales prices keep steady with last year. Overall, it has been a typical year so
far for the real estate market in Ottawa - steady and fluctuating between a
balanced and buyer's market."
November's sales included 170 in the
condominium property class, and 723 in the residential property class. The
condominium property class includes any property, regardless of style (i.e.
detached, semi-detached, apartment, townhouse, etc.), which is registered as a
condominium, as well as properties which are co-operatives, life leases and
timeshares. The residential property class includes all other residential
properties.
"Properties have taken longer to sell, requiring most sellers
to be more patient with the market," explains Oickle. "Resale condos are
slightly behind last year's volume, likely caused by increased competition with
new condo developments. Although the market slows somewhat in December, Sellers
should note that many buyers for 2015 will begin their search over the holiday
period, statistically the highest property search period."
The average
sale price of residential properties, including condominiums, sold in November
in the Ottawa area was $356,900, an increase of 0.4 per cent over November 2013.
The average sale price for a condominium-class property was $250,425, a decrease
of three per cent over November 2013. The average sale price of a
residential-class property was $381,936, an increase of 0.7 per cent over
November 2013. The Board cautions that average sale price information can be
useful in establishing trends over time but should not be used as an indicator
that specific properties have increased or decreased in value. The average sale
price is calculated based on the total dollar volume of all properties
sold.
"The $300,000 to $349,999 price range had the highest concentration
of properties sold in November, followed by the $350,000 to $399,999 range.
There were 93 properties sold in the price range between $500,000 to $749,999,"
says Oickle. "The rental market continues to be hot in Ottawa, with
approximately 175 properties rented in November, and over 2,300 rented since the
beginning of the year. Ottawa Real Estate Board members can assist you with a
variety of needs, whether you are looking to rent, or wanting to better
understand the prices in your area."
Showing posts with label 2014. Show all posts
Showing posts with label 2014. Show all posts
Tuesday, December 9, 2014
Thursday, September 11, 2014
OTTAWA REAL ESTATE BOARD-August News Release [2014-09-04 VP]
AVERAGE SALES FOR OTTAWA IN AUGUST
Members of the Ottawa Real Estate Board sold 1,203 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,216 in August 2013, a decrease of 1.1 per cent. The five-year average for August is 1,199.
"As usual, we are seeing a typical end-of-summer slowdown, especially in comparison to July's record sales," says Randy Oickle, President of the Ottawa Real Estate Board. "Although sales numbers are down slightly since last year, August's sales are slightly higher than the five-year average, and continue to be on par with year-to-date sales compared to last year."
August's sales included 219 in the condominium property class, and 984 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"Units sold in the residential property class alone, excluding condos, are up four per cent year-over-year. And average sale price has increased for both the residential and condo class," says Oickle. "If you are planning on buying or selling a home, we encourage you to consult one of our member REALTORS® to get in depth advice on prices in your neighbourhood."
The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $360,214, an increase of 3.4 per cent over August 2013. The average sale price for a condominium-class property was $263,996, an increase of 2.7 per cent over August 2013. The average sale price of a residential-class property was $381,628, an increase of 1.9 per cent over August 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
"The $300,000 to $399,999 price range continues to have the highest concentration of properties sold, followed by the $500,000 to $749,999 range - the later range up by 27.4 per cent from last year," explains Oickle. "This increase may possibly be the contributing factor in the average house price increases this month."
Thursday, July 10, 2014
OTTAWA REAL ESTATE BOARD-June News Release [2014-07-04 VP]
Pent up demand from the spring adds to June
sales
Members of the Ottawa Real Estate Board sold 1,661 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,593 in June 2013, an increase of 4.3 per cent. The five-year average for June is 1,636.
"It is now very apparent that the long winter we experienced delayed the start of the normally busy spring market," explains David Oikle, President-Elect of the Ottawa Real Estate Board. "As a result, we saw a higher demand going into June, and more homes switching hands. We've had a good May and June for residential sales, and average days on the market has held steady at 42 days."
June's sales included 316 in the condominium property class, and 1,345 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"We're also seeing that the Ottawa market is doing well in comparison to the first six months of 2013," says Oikle. "With positive numbers in May and June, year-to-date units sold are now only off by 106 units; while the average sale price has increased 1.5 per cent over a year ago."
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $364,264, an increase of 1.4 per cent over June 2013. The average sale price for a condominium-class property was $258,135, a decrease of 2.8 per cent over June 2013. The average sale price of a residential-class property was $389,198, an increase of 1.8 per cent over June 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
"Currently the residential and condo unit inventory on hand is just over 8,500, compared to approximately 7,500 last year," explains Oikle. "While this moderate increase of 13 per cent in the inventory of residential and condo units has created more selection for buyers, and increased competition for sellers, this is consistent with an active spring market. Other properties such as rentals, commercial properties, lots, etc. make up the balance of the inventory available, currently standing at approximately 2,500 units."
The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Members of the Ottawa Real Estate Board sold 1,661 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,593 in June 2013, an increase of 4.3 per cent. The five-year average for June is 1,636.
"It is now very apparent that the long winter we experienced delayed the start of the normally busy spring market," explains David Oikle, President-Elect of the Ottawa Real Estate Board. "As a result, we saw a higher demand going into June, and more homes switching hands. We've had a good May and June for residential sales, and average days on the market has held steady at 42 days."
June's sales included 316 in the condominium property class, and 1,345 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"We're also seeing that the Ottawa market is doing well in comparison to the first six months of 2013," says Oikle. "With positive numbers in May and June, year-to-date units sold are now only off by 106 units; while the average sale price has increased 1.5 per cent over a year ago."
The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $364,264, an increase of 1.4 per cent over June 2013. The average sale price for a condominium-class property was $258,135, a decrease of 2.8 per cent over June 2013. The average sale price of a residential-class property was $389,198, an increase of 1.8 per cent over June 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
"Currently the residential and condo unit inventory on hand is just over 8,500, compared to approximately 7,500 last year," explains Oikle. "While this moderate increase of 13 per cent in the inventory of residential and condo units has created more selection for buyers, and increased competition for sellers, this is consistent with an active spring market. Other properties such as rentals, commercial properties, lots, etc. make up the balance of the inventory available, currently standing at approximately 2,500 units."
The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Wednesday, June 4, 2014
OTTAWA REAL ESTATE BOARD- May News Release
Spring buyers have come out of
hibernationMembers of the Ottawa Real Estate Board sold 1,792
residential properties in May through the Board's Multiple Listing Service®
system, compared with 1,797 in May 2013, a decrease of 0.3 per cent. The
five-year average for May is 1,765.
"Looking at the units sold this year in comparison to last year, there is only a difference of five units. April was a bit slow for the Ottawa market, but it appears that with the great weather in May, buyers have come out of hibernation," explains Randy Oickle, President of the Ottawa Real Estate Board. "May sales are up 26.2 per cent from April - or 372 units. The inventory on hand continues to grow, and prices remain stable."
May's sales included 303 in the condominium property class, and 1,489 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"If we look at the residential property class alone, the units sold year over year are up 1.2 per cent. Although the residential property class is performing as anticipated, the market for condos has been a bit sluggish," says Oickle. "We're seeing a 19 per cent increase in the amount of inventory on hand over this time last year and unit sales are down 7.1 per cent. If you are looking to buy and hold, the selection and prices are attractive. We encourage buyers to consult on of our member REALTORS® to get advice customized to their specific needs."
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $381,172, an increase of 3.2 per cent over May 2013. The average sale price for a condominium-class property was $280,661, an increase of 6.9 per cent over May 2013. The average sale price of a residential-class property was $401,626, an increase of 2.1 per cent over May 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
"Looking at the units sold this year in comparison to last year, there is only a difference of five units. April was a bit slow for the Ottawa market, but it appears that with the great weather in May, buyers have come out of hibernation," explains Randy Oickle, President of the Ottawa Real Estate Board. "May sales are up 26.2 per cent from April - or 372 units. The inventory on hand continues to grow, and prices remain stable."
May's sales included 303 in the condominium property class, and 1,489 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"If we look at the residential property class alone, the units sold year over year are up 1.2 per cent. Although the residential property class is performing as anticipated, the market for condos has been a bit sluggish," says Oickle. "We're seeing a 19 per cent increase in the amount of inventory on hand over this time last year and unit sales are down 7.1 per cent. If you are looking to buy and hold, the selection and prices are attractive. We encourage buyers to consult on of our member REALTORS® to get advice customized to their specific needs."
The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $381,172, an increase of 3.2 per cent over May 2013. The average sale price for a condominium-class property was $280,661, an increase of 6.9 per cent over May 2013. The average sale price of a residential-class property was $401,626, an increase of 2.1 per cent over May 2013. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Tuesday, January 21, 2014
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