Ottawa’s Real Estate Marketplace ~ November 2015 Edition

Ottawa’s Real Estate Marketplace ~ November 2015 Edition

Ottawa Real Estate Infograph - Nov 2015During the month of October 2015, members of the Ottawa Real Estate Board sold 1,161 residential properties, compared to 1,119 in October of last year, an increase of 3.8% in total number of properties sold.

It took an average of 94 days for a property to sell last month which is 4 days longer than the average in August and 8 days longer than October of last year.

Of these 1,161 sales, 959 were freehold houses, and 202 were condominiums.

October’s average home price for all properties sold was $357,648, up 0.4% from last year.
The average sales price for a freehold house sold last month, was $380,075, showing an increase of 2.8% over last year.
Condominium average prices dropped 13.6% from last year to $251,177.
(This is not a true indication of the condo market as last October was severly inflated due to the registration of multiple-million dollar condo sales. Year to date the average condo price is $258,995, which is just 1.9% below the Jan-October price from 2014.)

2,089 new properties were listed for sale in October, bringing the total number of properties for sale to 7,663 an increase of 1.4% over this time last year.

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