Ottawa’s real estate market

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The only thing that is certain in a real estate market is that it will change! I am pleased to be your source for the most current real estate information about our city. Together we will stay on top of the latest trends and information that affect us as homeowners.
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Latest Statistics from the Ottawa Real Estate Board

February Buyers Snap Up Limited Inventory

Ottawa, February 2019

Members of the Ottawa Real Estate Board sold 1,005 residential properties in February through the Board’s Multiple Listing Service® System, compared with 978 in February 2018, an increase of 2.8 per cent. February’s sales included 756 in the residential property class, a rise of 3.8 per cent from a year ago, and 249 in the condominium property class, a decrease of 0.4 per cent from February 2018. The five-year average for February sales is 949.

“February has been a strong month, and with year-to-date unit sales 8% higher in both the condo and residential categories, it is looking very favourable for the spring market,” states Ottawa Real Estate Board’s 2019 President, Dwight Delahunt.

“Days on market continue to decline, and although inventory has fallen to its lowest level in many years, we are still managing to satisfy demand even with 900 fewer listings than this time last year,” he adds. “If we had more supply, our unit sales would be even greater.”

The average sale price of a residential-class property sold in February in the Ottawa area was $466,540, an increase of 8.6 per cent over February 2018. The average sale price for a condominium-class property was $288,354, an increase of 5.6 per cent from this month last year.*

“The Ottawa market is well ahead of inflation in regards to average prices for both condo and residential properties. We are in a comfortable position and remain one of the most affordable markets in the country,” Delahunt points out. The $300,000 to $449,999 range continued to represent the most active price point in the residential market, accounting for nearly 44 per cent of February’s sales while 26 per cent of residential sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in the condominium market, accounting for 48 per cent of the units sold.

“If you are thinking about selling, don’t wait – get a jump on the spring market! Now is the time to have a conversation with your REALTOR® who understands the best way to position your home in the market and has the experience to guide you through its complexities,” Delahunt suggests. “This is the type of market you certainly wouldn’t want to navigate without one.”

In addition to residential and condominium sales, OREB Members assisted clients with renting 342 properties since the beginning of the year.

The Ottawa Real Estate Board

We are very fortunate to have one of the most stable markets in the country. Ottawa continues to provide homeowners excellent growth on their real estate investment. Here’s a look back at the Resale Home Sales in the Ottawa Region from 1980 to 2017.
Average Sale Price
Year Average Sale Price Percent Change
1980 $ 62.748 1.4
1981 $ 64.896 3.4
1982 $ 71.080 9.5
1983 $ 86.245 21.3
1984 $102.084 18.4
1985 $107.306 5.1
1986 $111.643 4.0
1987 $119.612 7.1
1988 $128.434 7.4
1989 $137.455 7.0
1990 $141.438 2.9
1991 $143.361 1.4
1992 $143.868 0.4
1993 $148.129 3.0
1994 $147.543 -0.4
1995 $143.193 -2.9
1996 $140.513 -1.9
1997 $143.873 2.4
1998 $143.953 0.1
1999 $149.650 4.0
2000 $159.511 6.6
2001 $175.701 10.3
2002 $200.271 14.1
2003 $218.692 9.0
2004 $235.678 7.7
2005 $244.531 3.8
2006 $255.889 4.7
2007 $272.618 6.5
2008 $289.766 6.3
2009 $303.888 4.9
2010 $327.225 7.7
2011 $343.701 5.2
2012 $351.792 2.3
2013 $357.346 1.6
2014 $361.712 1.2
2015 $367.632 1.7
2016 $371.901 1.2
2017 $392.474 5.5
2018 $407.571 3.8