Members of the Ottawa Real Estate Board sold 2,146 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,604 in October 2019, a year over year increase of 34 percent.
“We are heading into the colder months, the second wave of the pandemic is upon us, and yet Ottawa’s resale market continues to hold steady,” observes Ottawa Real Estate Board President Deb Burgoyne.
While the October average price gains, number of sales, and new listings coming onto the market were all down from September, demand persists, and the number of sellers choosing to enter the market remains strong. With 1,937 residential listings and 708 condo units added to the housing stock in October, this is a 48% and 70% respective increase in new listings over last year at this time.
In addition to residential and condominium sales, OREB Members assisted clients with renting 2,829 properties since the beginning of the year compared to 2,334 at this time last 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.