Courtesy of Nella Zourntos
ANOTHER STELLAR YEAR FOR OTTAWA’S REAL ESTATE MARKET
January 4, 2019 - Members of the Ottawa Real Estate Board sold 663 residential properties in December through the Board’s Multiple Listing Service ® System. December’s sales included 471 residential properties and 192 condominium properties. The total number of residential and condo units sold throughout all of 2018 was 17,476. Residential property sales decreased slightly to 13,418 and condominium sales were up with 4,058 units sold in 2018 versus 2017. The average sale price of a residential property sold in December in the Ottawa area was $453,011. The average sale price for a condominium was $278,295. “In 2019, we expect the economic fundamentals of supply and demand to be at play with upward pressure on prices due to limited supply and increasing demand. Buyers do have affordable options in outlying communities if they are willing to commute — or they will simply have to pay more provided they can qualify. New builds and purpose- built rental housing could help ease some of the pressure, particularly if builders are able to provide a variety of quality options allowing for more movement in the market,” Ralph Shaw, Ottawa Real Estate Board’s 2018 President concludes.
AVERAGE SALE PRICE
UP 4.7% year-over-year
UP 9.0% year-over-year
Stats Reflective of Dec. 2018 Source: Ottawa Real Estate Board Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.
Nella Zourntos Sales Representative Give me a call at 613-697-8339 to find your dream home.
Each Office Independently Owned and Operated. Absolute Realty Inc. Brokerage 202 - 31 Northside Road Ottawa, ON K2H 8S1
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