December Ottawa Real Estate Market Summary
The final real estate numbers are in, and the Ottawa Real Estate Board has confirmed that 2016 was an incredible record breaking year for resales in Ottawa. This trend was deeply impacted by a consistent increase in condo sales compared to previous years, and five months in 2016 that saw record breaking monthly resales, starting in April and continuing into the fall months.
December Real Estate Sales in Ottawa: Highlights
- There were 715 residential properties resold in December, relative to the five year average of 656.
- The average number of days on the Ottawa real estate market throughout 2016 was 91 days.
- The average sale price of a residential class property sold in Ottawa was $420,750, increasing by 8.7% over December 2015.
- The average sale price for a condominium class property sold in Ottawa was $262,698, increasing by 4.9% over December 2015.
Annually, the most common price points for real estate sales in Ottawa were $300,000 to $399,999. However, the condominium market was the most progressive in 2016, with lower price points at $150,000 and $249,999. Overall, there was a six per cent increase in the condo and residential units sold throughout 2016 relative to 2015 numbers.
For the latest news updates about real estate in Ottawa, visit the Real Estate Board of Ottawa. If you are considering buying or selling a property, contact our team of professional Realtors® at Performance Realty for a free, no obligation market evaluation of your current home. Our sales representatives are happy to help answer any questions you might have about the real estate market in Ottawa.