Market UPDATE:

Condo Sales Continue to Dominate Resale Market

There were 493 condominium properties sold in June 2019 as compared to 453 condos in 2018, for the same month. An increase of 8.8% in number of condo units sold!

The average sale price of a condo was $308,482 in June 2019, compared to an average sale price of $290,514 in 2018 for the same month. A 6.2% increase over the same time last year. The Ottawa condo market is alive and kicking folks!

There were 1,612 residential homes sold in June 2019 as compared to 1,611 in June 2018. A 0.1% increase in the number of houses sold in the resale market in Ottawa.

Year to date residential resales are virtually the same as this time last year with 7,565 transactions so far. Increasing by 8.3%, condo resales are the driving force for the upturn in units sold in the first half of 2019.

The average sale price, of a residential home, for June 2019 was $500,716 compared to an average sale price of $449,402 in 2018 for the same month.  A 11.4% increase since this time last year.

The $300,000 – $400,000, and the $400,001 – $499,999 price range continues to have the highest concentration of properties sold, even though properties above the half million dollar mark are seeing significant increases, followed by the $150,000 – $299,999 range in condominiums. REALTORS assisted in renting roughly 1,314 properties since the beginning of 2018.

-Roy

Ottawa is one of the most stable real estate markets in Canada. Prices remain steady in condos, residential units and multi-units, across the board. Re-visit OttawaHomesandCondos.com for all the latest updates! We have some great listings on our featured listings page;  New real estate listings on the market!

Given excellent mortgage rates and flat pricing, this is an optimum time to emerge onto the market. Looking for a home? Please contact us. We want to be your agents! (613) 298-5101.