Members of the Ottawa Real Estate Board sold 1,002 residential properties in November through the Board’s Multiple Listing Service® System, compared with 757 in December 2019, a year over year increase of 32.4 percent.
“Our market performance in December capped off a year for resales that clearly shows a market that continued to thrive even through the challenges of 2020. December sales brought our year-to-date numbers at year-end to within 2% of 2019. There was a slight slowdown typical of December around the holiday season; however, the market continued its overall momentum and remained more active than usual,” states Ottawa Real Estate Board’s 2021 President Debra Wright.
The total number of residential and condo units sold throughout 2020 was 18,971, compared with 18,613 in 2019, increasing 2 percent. Residential property class unit sales went up by 3 percent, with 14,455 properties exchanging hands last year compared to 14,030 in 2019. Condominium property class sales decreased slightly by 1.5 percent, with 4,516 units sold in 2020 versus 4,583 in the previous year.
Here’s a breakdown of the average sale prices & year & over-year increases/decreases in Ottawa:
If you’re a potential home buyer or seller, and in a situation where it is essential that you buy or sell a property right now, there are means to do this in a safe and prudent manner. Do not hesitate to contact one of our agents to discuss-plan and protect you through this unique period. We have been working hard to move the majority of our business online so your entire real estate transaction can be completed virtually and safely. Get the scoop of our featured listings here.
Disclaimer: The Board cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.