Courtesy of Nella Zourntos
FALL MARKET SPRINGS FORWARD
October 3, 2019 - Members of the Ottawa Real Estate Board sold 1,549 residential properties in September through the Board’s Multiple Listing Service ® System. September ’s sales included 1,113 in the residential-property class and 436 in the condominium- property category. “Despite a challenging year of historically low inventory, September ’s sales continue to be extremely strong, the likes of which we haven’t seen in the past 15 years,” acknowledges Dwight Delahunt, President of the Ottawa Real Estate Board. “It’s quite amazing, with the limited supply, that the market is still moving well with purchasers finding properties that meet their requirements,” he adds. September ’s average sale price for a condominium-class property was $309,373, an increase of 9 per cent from last year while the average sale price of a residential-class property was $487,438, an increase of 8 per cent from a year ago. “Now that condominium prices have recovered, we see condo sellers jumping back into the market to take advantage of that, and as a result, condo sales have been very robust and have again led the way in September ’s unit sales,” Delahunt suggests.
AVERAGE SALE PRICE
UP 8.3% year-over-year
UP 9.1% year-over-year
Stats Reflective of September 2019 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.
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