Steady September contributes to strong third quarter for 2017

Members of the Ottawa Real Estate Board sold 1,387 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,365 in September 2016, an increase of 1.6 per cent. The five-year average for September sales is 1,250. “We are seeing no slowdown in the condo market. Sales have been increasing in this property class since February, with the average increase per month coming in at 25.5 per cent,” says Rick Eisert, President of the Ottawa Real Estate Board. “The boost in condo sales has impacted our yearto-date unit sale figures and is putting us on track for a strong year-end finish.” September’s sales included 311 in the condominium property class, and 1,076 in the residential property class. “Inventory levels and the number of new listings continue to tighten compared to the same time last year,” explains Eisert. “REALTORS® are reporting substantial increases in attendance at open houses over the past few months. The low inventory and the late summer weather have certainly contributed to this increased traffic.” “The Ottawa market is showing signs of stabilizing after the recordsetting spring and summer. All indications suggest that it will be a typical selling season heading into the fall,” says Eisert. “Although properties continue to sell much faster in comparison to this time last year, our market is still balanced, though trending toward a Sellers’ market. The average increase in sale price has not skyrocketed, but rather has increased gradually due to more homes selling in the $450+ price range compared to last year.” The average sale price of a residentialclass property sold in September in the Ottawa area was $416,464, an increase of 8.2 per cent over September 2016. The average sale price for a condominium-class property was $261,548, an increase of 3.9 per cent over September 2016. The Board cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood. “The most active price point in the residential market continues to be the $300,000 to $399,999 range, accounting for 36.2 per cent of the market. While the most active price point in the condo market, between $150,000 and $249,999, accounts for 51 per cent of the market,” says Eisert. “In addition to residential and condominium sales, OREB Members assisted clients with renting 2,364 properties since the beginning of the year.”

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Archives

October 02, 2017
Leaves may be falling, but the real estate market is not
September 04, 2017
Steady September contributes to strong third quarter for 2017
August 07, 2017
Condo sales help set new record for August unit sales
July 02, 2017
Condo sales drive the Ottawa resale market in July
May 02, 2017
Condo sales lead the way for stellar performance in May
April 05, 2017
Spring conditions produce blossoming resale market
March 06, 2017
Spring market is primed for competitive season ahead
February 06, 2017
2017 resale market off to a great start
December 22, 2016
Donnelly Team presents: FREE SKATE DAY!!
December 09, 2016
Condo sales continue to bolster Ottawa resale market
November 06, 2016
Condo sales lead the way to best October on record
October 18, 2016
Brrr It's getting cold out there!
October 18, 2016
Avoiding the dreaded Tenant
October 12, 2016
Staying Active in the Winter
October 08, 2016
No fall(ing) back in Ottawa’s resale market
September 14, 2016
To Dog or not to Dog
September 07, 2016
Record-breaking year for Ottawa resales
August 26, 2016
Fixer Upper Opportunity?
August 08, 2016
Summer resales sizzle in a hot July
July 08, 2016
Record-breaking June for Ottawa resales
June 08, 2016
Sales stay consistently hot through May heat wave
May 13, 2016
Second-best April on record for Ottawa resales
April 06, 2016
A Winter for the Records!
March 31, 2016
Spring Home Maintenance!
March 19, 2016
March resale market springs into action
March 03, 2016
February 2016 OREB News Release
February 11, 2016
Family Day Weekend: What to do
February 07, 2016
January 2016 OREB News Release
January 28, 2016
ArtHaus Ottawa
January 07, 2016
December 2015 OREB News Release
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Ottawa Museums and Family Attractions
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