Another Stellar Year for Ottawa’s Real Estate Market
There were 192 condominium properties sold in December 2018 as compared to 206 condos in 2017, for the same month. A slight decrease of 6.8% in number of condo units sold.
The average sale price of a condo was $278,295 in December 2018, compared to an average sale price of $255,372 in 2017 for the same month. A 9.0% increase over the same time last year. The Ottawa condo market is alive and kicking folks!
There were 471 residential homes sold in December 2018 as compared to 559 in December 2017. A 15.7% decrease in the number of houses sold in the resale market in Ottawa.
For the last decade, we have experienced steady growth in our real estate marker from volume to prices; however, the past two years have jumped significantly in activity with a 12.6% increase in unit sales from 2016. Ottawa, and its surrounding area, has excellent employment numbers and has proven to be one of the most affordable larger cities in the country.
The average sale price, of a residential home, for December 2018 was $453,011 compared to an average sale price of $432,821 in 2017 for the same month. A 4.7% 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 2977 properties since the beginning of 2018.
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.