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Ottawa resale market up from
January
Ottawa, March 5, 2013
- Members of the Ottawa Real Estate Board sold 914 residential
properties in February through the Board’s Multiple Listing Service® system,
compared with 1,008 in February 2012, a decrease of 9.3 per cent.
“It is clear that the Ottawa resale market
has slowed down in comparison to this time last year,” says Tim Lee, President
of the Ottawa Real Estate Board. “The government was successful in its quest to
“cool down” the market. However, if we look at this month’s sales, in comparison
to last month’s sales, the market seems to be picking back up as we approach the
busy spring season – 315 more homes were sold in February, over January, even
with three fewer days.”
February’s sales included 224 in the
condominium property class, and 690 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.
The average sale price of residential
properties, including condominiums, sold in February in the Ottawa area was
$346,774, a slight decrease of 1.1 per cent over February 2012. The average sale
price for a condominium-class property was $264,953, a decrease of 3.1 per cent
over February 2012. The average sale price of a residential-class property was
$373,337 a slight decrease of 0.6 per cent over February 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.
“Even with the slight decline in sales
year-over-year, Ottawa continues to be a great place to buy and/or sell your
home,” says Lee. Talk to an Ottawa area REALTOR® for more information
about the housing market outlook where you live, or want to live.
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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Tuesday, March 19, 2013
OTTAWA REAL ESTATE BOARD-MARCH NEWS RELEASE
Thursday, September 13, 2012
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.
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.
Friday, August 3, 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
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
Information above is compiled from the Ottawa Real Estate Board's Multiple Listing Services database as of August 2nd, 2012
Monday, June 18, 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.
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
Thursday, May 10, 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, 2012Friday, April 6, 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
Wednesday, March 7, 2012
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.
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