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 November. Show all posts
Showing posts with label November. Show all posts
Tuesday, December 9, 2014
Wednesday, November 6, 2013
OTTAWA REAL ESTATE BOARD-NOVEMBER NEWS RELEASE-2013-11-04
October resales comparative to five-year average
Members of the Ottawa Real Estate Board sold 1,090 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of two per cent. The five-year average for October sales is 1,091.
"Resale units sold in October are right on par compared to the five-year average," says Ansel Clarke, Past President of the Ottawa Real Estate Board. "This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market."
October's sales included 211 in the condominium property class, and 879 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.
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $360,085, an increase of 4.1 per cent over October 2012. The average sale price for a condominium-class property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price of a residential-class property was $381,580, an increase of 3.5 per cent over October 2012. 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.
"Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home. We do the homework so you don't have to." Visit wedothehomework.ca for more information on working with a REALTOR®.
The Ottawa Real Estate Board is an industry association of over 2,900 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 1,090 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of two per cent. The five-year average for October sales is 1,091.
"Resale units sold in October are right on par compared to the five-year average," says Ansel Clarke, Past President of the Ottawa Real Estate Board. "This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market."
October's sales included 211 in the condominium property class, and 879 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.
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $360,085, an increase of 4.1 per cent over October 2012. The average sale price for a condominium-class property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price of a residential-class property was $381,580, an increase of 3.5 per cent over October 2012. 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.
"Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home. We do the homework so you don't have to." Visit wedothehomework.ca for more information on working with a REALTOR®.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
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