Ottawa Real Estate: 2015 in Review

Every month we track and SHARE with you Ottawa’s Real Estate Trends.
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Ottawa’s Real Estate Marketplace ~January 2016 Edition

  During the month of December 2015, members of the Ottawa Real Estate Board sold 703 residential properties,  compared to 638 in December of last year,  an increase of 10.2% in total number of properties sold.
 
The total sales for 2015 reached 14,658 showing a 5.3% increase over 2014.
 
It took an average of 109 days for a property to sell last month which is 5 days longer than the average in November and  3 days longer than December of 2014. 
 
The average time to sell a property in 2015 was 86 days, 12 days longer than in 2014
 
Of these 703 sales in December, 543 were freehold houses, and 160 were condominiums.
 
The total sales for 2015 were; 11,964 freehold houses and 2,694 condominiums.
 
The average sales price for a freehold house sold last month, was $366,883, showing an increase of 5.5% over last year.  The year end average for freeholds was $391,940 an increase of 1.9% over 2014.
 
Condominium average prices dropped 7.5% from last year to $270,748.  The year end average for condos was $263,543 a decrease of 1.5% from 2014.
 
974 new properties were listed for sale in December, bringing the total number of properties for sale to 5,363 a difference of 5 properties from this time last year.
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