Ottawa Real Estate Statistics - March 2017
Thursday, April 6, 2017
Spring-time for Ottawa’s housing market came early this year: March’s average sale price up 5.3%
“The busy spring selling season descended upon Ottawa early this year,” said Rick Eisert, President of the Ottawa Real Estate Board. As 2017 continues to bring life to the Ottawa housing market again, not only are the number of properties being sold increasing, but the average price is as well.
Ottawa realtors sold 1,485 residential properties in March 2017, compared to 1,160 in 2016 – that’s an impressive increase of 28%. Of that total, condominium properties continue to move with 314 included in the previously mentioned total. These numbers brought March to the record book, sitting at second-best, only 13 units down from March 2010.
Both the residential and condominium property classes experienced an increase of 5.3 per cent in average sale price over March of last year. Of all properties sold in the residential class, the average sale price was $415,467, where condominiums saw an average of $272,597. These averages continue to be influenced by a trend Ottawa’s market has been seeing since the beginning of the year. Over 50 properties have now been sold for over $1 million, compared to only 22 after the first quarter of 2016. Communities leading these high price points are Rockcliffe Park, The Glebe, and Westboro.
The two price points that remain the most active in the residential market are the $300,000 to $399,999 and the $400,000 to $499,999 range, ascribed to 53.7 per cent of the market. The condo market is seeing it’s active price point remain the same as well, with the range accounting for 51.2 per cent of the market sitting at $150,000 to $249,999.
With all of these impressive and positive numbers growing as 2017 moves along, it is best to contact a real estate agent to learn more about how you can take advantage of Ottawa’s resale market. Spring-time is here and your dream neighbourhood is waiting for you.