Author: alphadmin

Members of the Ottawa Real Estate Board sold 1,491 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,430 in July 2015, an increase of 4.3 per cent. The five-year average for July sales is 1,413.

“Sales continue to outpace 2015 numbers both in monthly and year-to-date comparisons,” says Shane Silva, President of the Ottawa Real Estate Board. “However, we are seeing the typical summer slowdown in July compared to June’s record-breaking numbers. Units listed in both residential and condominium property classes have declined throughout the year, which has affected overall inventory levels. The number of active listings at the end of July 2016 is down about 15 per cent compared to July 2015.”

July’s sales included 277 in the condominium property class, and 1,214 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.

“We are just over the mid-year mark for 2016 and our year-to-date sales volume is up by 5.3 per cent over last year, ringing in at a whopping 3.6 billion dollars,” says Silva. “Prices have remained quite steady in comparison to last year, with the increased number of units sold nudging the total sales volume up for the year.”

The average sale price of a residential-class property sold in July in the Ottawa area was $398,608, an increase of 1.1 per cent over July 2015. The average sale price for a condominium-class property was $259,794, an increase of 1.2 per cent over July 2015. 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 in our market for July were two-storey and bungalow residential homes in the $300,000 to $400,000 price range, followed by one-level and two-storey condos in the $200,000 to $300,000 price range,” says Silva. “In addition to residential and condominium sales, OREB Members have assisted clients with renting over 1,800 properties since the beginning of the year.”

 

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Members of the Ottawa Real Estate Board sold 1,985 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,691 in June 2015, an increase of 17.4 per cent. The five-year average for June sales is 1,717.

“Sales this past month contributed not only to the highest June on record, it also turned out to be the highest sales in any month ever in the history of the Ottawa market,” remarked Shane Silva, President of the Ottawa Real Estate Board. “The closest comparable sales figures are from May 2009 with 1,967 units sold. Normally the resale market has a slight dip in units sold from May to June each year. May is routinely the peak month for units sold; however, this year June sales increased by 3.3 per cent over May.”

“It’s hard to say what fuelled this surge for June. It could be a combination of great weather and buyer activity from other markets, or it could be an anomaly. We will be closely watching the trend over the summer when sales typically slow down as buyers turn their attention to summer activities,” Silva went on to explain.

June sales included 331 in the condominium property class, and 1,654 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.

“Year-to-date units sold for the first half of 2016 are also performing quite well compared to the first half of last year, up 5.4 per cent. While year-to-date average sale price remains the same compared to last year,” says Silva. “A total of 3,220 residential and condo properties were listed in June, capping the month off with approximately 8,300 properties on the market, down 11.5 per cent from June 2015.”

The average sale price of a residential-class property sold in June in the Ottawa area was $399,382, a decrease of 1.3 per cent over June 2015. The average sale price for a condominium-class property was $264,913, a decrease of 2.4 per cent over June 2015. 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.

“Residential two-storey and bungalows continue to have the highest concentration of buyers in June,” says Silva. “In addition to residential and condominium sales, OREB Members have assisted clients with renting over 1,500 properties since the beginning of the year.”

The Ottawa Real Estate Board is an industry association of approximately 3,100 sales representatives and brokers in the Ottawa area. Members of the Board are also Members of the Canadian Real Estate Association.

The MLS® System is a Member-based service, paid for by the REALTOR® Members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to affect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® residential and commercial listings are available for viewing on www.REALTOR.ca. Additional information can be found on the Board’s website at www.OttawaRealEstate.org.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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Members of the Ottawa Real Estate Board sold 1,921 residential properties in May through the Board’s Multiple Listing Service® System, compared with similar sales of 1,923 in May 2015. The five-year average for May sales is 1,864.

“As the weather warmed, the Ottawa resale market continued its steady pace upwards, continuing an above average trend for the month of May,” says Shane Silva, President of the Ottawa Real Estate Board. “Units sold are up 207 since April, increasing in both the residential and condominium property class.”

May sales included 307 in the condominium property class, and 1,614 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.

“In May, 3,635 homes were listed, keeping pace with listing numbers in April, but down slightly by 4.4 per cent compared to May 2015,” says Silva. “With the number of sales since the beginning of the year on a steady incline, coupled with increased inventory, Ottawa is riding a strong and steady spring market.”

The average sale price of a residential-class property sold in May in the Ottawa area was $406,063, a decrease of 1.3 per cent over May 2015. The average sale price for a condominium-class property was $264,801, a decrease of 0.8 per cent over May 2015. 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 in our market for May were sales in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 price range,” says Silva. “Residential two-storey and bungalows have the highest concentration of buyers in May. In addition to residential and condominium sales, OREB Members have assisted clients with renting 1,213 properties since the beginning of the year.”

The Ottawa Real Estate Board is an industry association of approximately 3,100 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to affect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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Members of the Ottawa Real Estate Board sold 1,714 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,567 in April 2015, an increase of 9.4 per cent. The five-year average for April sales is 1,568.

“The Ottawa resale market continued its steady pace upwards in April, making it the best April for unit sales on record since 2010,” says Shane Silva, President of the Ottawa Real Estate Board. “Units sold are up 548 since March, increasing in both the residential and condominium property class.”

April’s sales included 264 in the condominium property class, and 1,450 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.

“In April, 3,644 homes were listed, up 13.8 per cent since March, and down by 2.8 per cent over April 2015,” says Silva. “Inventory levels at the end of the month remain healthy heading into, what is normally, the most active month of the year for Ottawa Real Estate Board Members.”

The average sale price of a residential-class property sold in April in the Ottawa area was $403,603, an increase of 0.2 per cent over April 2015. The average sale price for a condominium-class property was $261,017, a decrease of 1.8 per cent over April 2015. 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 in our market for April were sales in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 price range,” says Silva. “Residential two-storey and bungalows have the highest concentration of buyers in April. In addition to residential and condominium sales, OREB Members have assisted clients with renting 937 properties since the beginning of the year.”

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Members of the Ottawa Real Estate Board sold 1,166 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,200 in March 2015, a decrease of 2.8 per cent. The five-year average for March sales is 1,220.

“We are definitely seeing a resale market increase from the previous month, with 256 more properties sold in March over February,” says President of the Ottawa Real Estate Board, Shane Silva. “Properties are starting to sell faster, indicating that we are heading into our busy spring market.”

March’s sales included 221 in the condominium property class, and 945 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.

“In March, 3,203 homes were listed, up 38.6 per cent since February, and inventory on hand at the end of March also rose by 17.5 per cent from last month,” says Silva. “Although there is a slight dip in units sold compared to last year, average price remains steady keeping the Ottawa resale market healthy and strong. Canada’s capital continues to be a great place to buy and sell real estate.”

The average sale price of a residential-class property sold in March in the Ottawa area was $394,951, an increase of two per cent over March 2015. The average sale price for a condominium-class property was $258,714, an increase of 2.4 per cent over March 2015. 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 in our market continues to be in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 price range,” says Silva. “Residential two-storey and bungalow homes, and one level condo properties have the highest concentration of buyers in March. In addition to residential and condominium sales, OREB Members assisted clients with renting 695 properties since the beginning of the year.”

 

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Members of the Ottawa Real Estate Board sold 911 residential properties in February through the Board’s Multiple Listing Service® system, compared with 850 in February 2015, an increase of 7.2 per cent. The five-year average for February sales is 908.

“Although the weather was very unpredictable this month, with many highs and lows and several winter storms, the Ottawa resale market only saw activity pick up,” says President of the Ottawa Real Estate Board, Shane Silva. “Residential and condo sales combined increased by 52.3 per cent since last month. However, we need to factor in the leap year, which added an extra day to the month of February, and 46 sales on that day alone.”

February’s sales included 199 in the condominium property class, and 712 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.

“In February, 2,312 homes were listed, up 26.6 per cent since January, and inventory on hand at the end of February rose by 10.7 per cent since January,” says Silva. “We’re starting to see more homes coming onto the market in preparation for the busy spring selling season. If you’re thinking of putting your home on the market, this is a great time to do so.”

The average sale price of a residential-class property sold in February in the Ottawa area was $384,632, an increase of 1.2 per cent over February 2015. The average sale price for a condominium-class property was $249,727, a decrease of 6.8 per cent over February 2015. 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 highest concentration of properties sold continues to be in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 range,” says Silva. “These price ranges continue to have the highest concentration of properties sold – residential and condo – while two-storey, bungalow, and one-level condos have the highest concentration of buyers. In addition to residential and condominium sales, OREB Members assisted clients with renting 414 properties since the beginning of the year.”

 

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Members of the Ottawa Real Estate Board sold 601 residential properties in January through the Board’s Multiple Listing Service® system, compared with 626 in January 2015, a decrease of four per cent. The five-year average for January sales is 618.

“The market momentum gained from the warmer weather in the latter part of 2015 has eased off with the arrival of typical winter weather in January,” says President of the Ottawa Real Estate Board, Shane Silva. “We are seeing a drop in the number of residential and condo properties listed this January over the year before. However, the number of properties listed almost doubled the amount listed in December – a normal occurrence at the beginning of the year as people begin to plan for the year ahead.”

January’s sales included 129 in the condominium property class, and 472 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.

“Residential unit sales this month were down, while condominium unit sales were up, over last year,” says Silva. “Residential two-storey and bungalow homes continue to have the highest concentration of buyers, with three-storey homes increasing in sales by over 50 per cent since this time last year. Two-storey condominium properties had a similar increase, showing the same amount of unit sales as one-level properties.”

The average sale price of a residential-class property sold in January in the Ottawa area was $386,839, an increase of 4.6 per cent over January 2015. The average sale price for a condominium-class property was $247,205, a decrease of 1.3 per cent over January 2015. 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.

“A possible explanation for the increase in residential average sale price this month over last year is that the amount of properties sold over $1 million doubled that of last year, with six properties sold this month,” notes Silva. “Nevertheless, the hottest segments of our market in January were sales in the $300,000 to $400,000 range, followed closely by the $200,000 to $300,000 range. In addition to residential and condominium sales, OREB members assisted clients with renting 200 properties in January.”

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