Latest Ottawa Real Estate Numbers Up To June 30, 2018

The real estate numbers for the Ottawa Board are now out and they show a very interesting market.

The Ottawa Real Estate Board saw 2,070 residential properties sell in June compared with 2,163 in June 2017, a decrease of 4.3 per cent. June’s sales included 455 condos an increase of 11.5 per cent from June 2017 and 1,615 in the residential property class, a decrease of 8 per cent from a year ago.

“The robust condo numbers are likely fueled by lack of inventory, particularly in the lower price points of the single-family resale market. For example, in the first half of the year there has been a decrease of 37 per cent in the number of single-family units sold at the $250-275K price point and a 41 per cent decrease for the $275-300K price range, whereas there is a corresponding increase in condo sales of 49 per cent and 22 per cent respectively for those same price points,” (Ottawa Real Estate Board Press Release, July 5, 2018).

If you are thinking about selling this year, it is an excellent time to get on the market, especially if you are in suburban Ottawa. In several parts of the city houses sell quickly and often with bidding wars taking place. For instance, we know of one house which listed at $410,000, received 16 offers in a bidding war and sold for $466,000!

In rural Ottawa, the main issue is lack of inventory, especially in the lower price ranges.

The average sale price of a residential class property sold in June in the Ottawa area was $449,200, an increase of 3.4 per cent over June 2017. The average sale price for a condominium-class property was $293,303, an increase of 1.2 per cent from June 2017. Year to date, residential properties have seen a 5.2 per cent increase in average price with a 1.1 per cent price increase for condominiums. * (Ottawa Real Estate Board Press Release, July 5, 2018)

Here are a few sales numbers for this year up to the end of June:

RURAL

Russell 45     Embrun 75     Limoges 60     Almonte 83     Casselman 36     Greely 106     Vernon 7

Osgoode 33     Metcalfe 25     Carleton Place 139     Winchester 19     Chesterville 22

URBAN: ORLEANS

Convent Glen/Convent Glen North 79     Convent Glen South 22     Chapel Hill 87     Chapel Hill South 64

Orleans Woods 30     Avalon area 387     Fallingbrook/Gardenway/Pineridge/Ridgemont 210

URBAN: SOUTH END OTTAWA

Findlay Creek-Deerfield Village 108     Riverside South 187     S Keys/Greenboro/Hunt Club Park 168

Elmvale Acres 81     Hunt Club 126     Alta Vista 180     Riverside Park/Mooney’s Bay 62

URBAN: BARRHAVEN

Stonebridge 127     Half Moon Bay 125     Longfields 194

As always if you would like more information, call or text us at 613-897-6839.

The Beardsley Team, Bev and Keith Beardsley, sales representatives and also Seniors Real Estate Specialists with Century 21 Action Power Team. We serve Ottawa/Orleans and the many rural communities that surround the city. If you have questions, we have answers. Call or text 613-897-6839 for more information.

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beardk

A real estate team that puts the clients interests first. They "Set the Gold Standard for Customer Service". Over 20 years of combined experience serving the greater Ottawa region including the many rural communities that surround the city. We love living in the country and from our residential real estate office in Metcalfe we can reach all parts of the city of Ottawa and the rural areas between Ottawa and the St Lawrence. Our main web site is www.BeardsleyTeam.ca and our Facebook page is Ottawa Country Homes and Lifestyle.