Best September on Record for Number of Ottawa Resales

Ottawa, October 5, 2015 - Members of the Ottawa Real Estate Board sold 1,244 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,131 in September 2014, an increase of 10 per cent. The five-year average for September sales is 1,137.

“Ottawa Real Estate Board members continued their active summer into a busy fall,” says David Oikle, President of the Ottawa Real Estate Board. “In fact this September marks the best September on record for the number of units sold in the Ottawa resale market. There was a possibility that the federal election campaign might affect the local real estate market, but this does not appear to have been the case thus far.” 

September’s sales included 221 in the condominium property class, and 1,023 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.

To continue read visit: CLICK HERE

Don't forget visit bennettpros.com for all your real estate needs!

Strong summer performance for Ottawa's resale market

Members of the Ottawa Real Estate Board sold 1,279 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,200 in August 2014, an increase of 6.6 per cent. The five-year average for August sales is 1,234.

 

“Ottawa Real Estate Board members had a busy August, with units sold coming in higher than the five-year average and a healthy increase from last year’s sales,” says David Oikle, President of the Ottawa Real Estate Board. “In addition to an increase in units sold, inventory levels of residential and condominium properties dropped by 5.3 per cent since last month, and cumulative days on the market was an average of 89 days.”

August’s sales included 259 in the condominium property class, and 1,020 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 a residential-class property sold in August in the Ottawa area was $379,946, a decrease of 0.1 per cent over August 2014. The average sale price for a condominium-class property was $244,801, a decrease of 7.3 per cent over August 2014. 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.

“It is important to note that the increase in units sold is for both residential and condominium properties,” says Oikle. “Also, we continue to see an increase in the number of condominium units sold in comparison to 2014, and the year-to-date condominium sales are now close to on par with last year.”

To continue reading visit: 
http://www2.ottawarealestate.org/home/NewsInformation/LatestNewsRelease.aspx

Don't forget visit www.bennettpros.com for all your real estate needs!

July Ottawa Real Estate Update: July Stats Just Released

Typical summer resale market in Ottawa

Ottawa, August 6, 2015 - Members of the Ottawa Real Estate Board sold 1,436 residential properties in July through the Board’s Multiple Listing Service® system, compared with 1,440 in July 2014, a decrease of 0.3 per cent. The five-year average for July sales is 1,380.

“Last July was the second best on record, and this July was only four units short of that record, coming in well above the five-year average,” says David Oikle, President of the Ottawa Real Estate Board. “Overall, the Ottawa resale market has been performing quite well with no major fluctuations in units sold and average sale price.”

July’s sales included 271 in the condominium property class, and 1,165 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.

“We are seeing a slight increase in condominium sales this month – a positive change,” says Oikle. “The average cumulative days on market increased slightly to 78 days, compared to 74 last month. Inventory levels remain high, meaning we continue to be in a Buyer’s market.”

The average sale price of a residential-class property sold in July in the Ottawa area was $394,889, an increase of 4.5 per cent over July 2014. The average sale price for a condominium-class property was $255,102, a decrease of 2.6 per cent over July 2014. 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.

To continue reading visit:  http://www2.ottawarealestate.org/home/NewsInformation/LatestNewsRelease.aspx

Don't forget visit www.bennettpros.com for all your real estate needs!

June Ottawa Real Estate Stats Released

Busy spring market continues in June

Ottawa, July 6, 2015 - Members of the Ottawa Real Estate Board sold 1,694 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,657 in June 2014, an increase of 2.2 per cent. The five-year average for June sales is 1,664.

“The Ottawa market is performing very well month-over-month and year-to-date compared to last year,” says David Oikle, President of the Ottawa Real Estate Board. “Year-to-date sales for the first half of 2015 are up 4.9 per cent over the first half of 2014, and average sale price continues to be steady for the first half of the year.”

 

June’s sales included 274 in the condominium property class, and 1,420 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.

 

To continue reading visit:  http://www2.ottawarealestate.org/home/NewsInformation/LatestNewsRelease.aspx

Don't forget visit www.bennettpros.com for all your real estate needs!

The Ottawa resale market remains steady and strong in May

June 3, 2015 - Members of the Ottawa Real Estate Board sold 1,926 residential properties in May through the Board’s Multiple Listing Service® system, compared with 1,789 in May 2014, an increase of 7.7 per cent. The five-year average for May sales is 1,812.

“The Ottawa housing market continued its strong performance in May, making it the best May for unit sales on record since 2009,” says David Oikle, President of the Ottawa Real Estate Board. “Units sold are up 357 since April, increasing in both the residential and condominium property class.”
May’s sales included 342 in the condominium property class, and 1,584 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 cumulative days on market remains consistent at 72 days, compared to 74 last month,” says Oikle. “Properties are moving consistently and inventory remains plentiful; labelling the Ottawa market as a Buyers’ market and allowing for average sale prices to remain very stable.”

The average sale price of a residential-class property sold in May in the Ottawa area was $411,791, an increase of 2.6 per cent over May 2014. The average sale price for a condominium-class property was $266,940, a decrease of 4.9 per cent over May 2014. 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.

“The hottest segments of our market for May were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 range and then the $400,000 to $500,000 range,” says Oikle. “Two -storey residential properties sold surpassed 1,000 units this month, continuing to have the highest concentration of buyers in Ottawa. In addition to residential and condominium sales, OREB members assisted clients with renting 279 properties in May, and 1,155 since the beginning of the year.”

Visit bennettpros.com for all your real estate.

2014 Ottawa Real Estate Market Update

Source - Ottawa Real Estate Board
December unit sales contribute to a strong year-end

Ottawa, January 7, 2015 - Members of the Ottawa Real Estate Board sold 640 residential properties in December through the Board’s Multiple Listing Service® system, compared with 609 in December 2013, an increase of 5.1 per cent. The five-year average for December sales is 637.

The total number of homes sold through the Board’s MLS® system in 2014 was 13,928, compared with 13,871 in 2013, an increase of 0.4 per cent. Residential unit sales for the year were slightly higher with a 2.4 per cent increase over 2013, while condo sales declined by 7.2 per cent compared to last year. The average residential home price, including condominiums, sold in 2014 was $361,712, an increase of 1.2 per cent over 2013.

“The listing inventory for both residential and condos trended higher all year,” says new President of the Ottawa Real Estate Board, David Oikle. “Condo units for sale increased as high as 23 per cent in February and March over the previous year, but settled back down to 2013 levels by the end of December. Increased inventory levels contributed to the market favouring Buyers for much of the year.”

December’s sales included 144 in the condominium property class, and 496 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 December in the Ottawa area was $345,449, an increase of 1.6 per cent over December 2013. The average sale price for a condominium-class property was $270,236, an increase of 10.1 per cent over December 2013. The average sale price of a residential-class property was $367,286, a decrease of 0.7 per cent over December 2013. 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.

“The price range with the most concentrated amount of sales for 2014 was the $300,000 to $349,999 range, with 18.8 per cent of the year’s sales, followed by the $350,000 to $399,000 range, with 12.5 per cent of the year’s sales, explains Oikle. “The third highest category with 11.6 per cent of the year’s sales was in the $500,000 to $749.999 price range. All three of these price range property concentrations are very similar to the ranges from 2013.”

In addition to residential and condominium sales, OREB members have assisted clients with renting over 2,500 properties in 2014. OREB members also assist clients with the sale of building lots, businesses, farms and recreational properties, and the leasing of commercial space.

Visit www.bennettpros.com for all you real estate needs.