Ottawa Area Homes Is Your Source For Up To Date Real Estate News And Articles

 

 

Record average sale price caps off historic year for Ottawa real estate market

February 3, 2017

 

Ottawa’s real estate market set another record in December as the average resale price surpassed $420,000 for the first time, according to realtor statistics.

 

 

 

The previous record was $411,791, set in May 2015, according to OBJ records.

 

The Ottawa Real Estate Board, which released its December statistics Thursday, attributed the increase to a higher concentration of homes sold for more than $500,000.

 

Before it was even over, 2016 was guaranteed to be a record-setting year for Ottawa’s real estate market.

 

By November, local realtors had already set a new high for the number of homes sold in a single calendar year.

 

That didn’t stop the industry from ending a year with a bang by selling 715 homes in December, a new record for the month.

 

In total, Ottawa realtors sold 15,537 homes last year, a six-per-cent increase over 2015. The previous five-year average was 14,232 sales, according to OBJ records.

 

“No matter what is said in the history books about 2016, it proved overall to be a great year for Ottawa real estate,” said OREB president Rick Eisert in a statement. “The monthly unit sale performance in 2016 was often bolstered by a strengthened condo market which recorded increases over 2015 for much of the year.”

 

source: OBJ Staff, Ottawa Business Journal, 5 January 2017

Please reload

Featured Posts

Heart Institute to open 145,000-square-foot expansion

March 15, 2018

1/10
Please reload

Recent Posts
Please reload

Archive
Please reload

Division of theREPS.ca

The Reps Brokerage

901 Bank Street

Ottawa, Ontario K1S 3W5

 

613.266.2536 Direct - 613.900.7377 Office
info@thereps.ca

  • Facebook App Icon
  • LinkedIn App Icon
  • Google+ App Icon
  • YouTube Classic
  • Twitter Social Icon