by  Michael Arthur
Michael Arthur
Michael Arthur

The Ottawa Real Estate Market Continues Its Record Sales In The Resale Market

Once again, the Ottawa resale market continued its record sales in January 2017 over the same month in 2016. The record sales in the resale sector contributed to the Ottawa real estate market generating record sales for the month of January.

Here are the highlights of the market’s performance in January:

  • Sales in both residential homes and condominiums increased by 11.5% over January 2016.
  • Sales in residential resale homes increased by 16.6% over January 2016.
  • Most of the buyer demand was in residential homes priced in the $300,000 to $399,999 price range, which accounted for 35.2 per cent of the residential market.
  • For condominiums, most buyer demand were in residential homes priced in the $150,000 to $249,999 price range, which accounted for 58.7 per cent of the condominium market.
  • The following residential property types that were popular among buyers were:
    – 2-storey homes with an average sale price of $405,354 (down 2.5 per cent under 2016), and
    – bungalows with an average sale price of $369,193 (up 10.7 per cent over 2016)
  • The following condominium property type that were popular among buyers were:
    – one-level unit homes with an average sale price of $287,190 (up 7 per cent over 2016).

If you would like a free copy of the full market update report, you can contact me at (613) 890–7653 (SOLD) or [email protected].

About the writer

Michael Arthur is a realtor with RE/MAX Core Realty Inc., who specializes in residential properties and leasing of commercial properties. He works with various clients that include first-time home buyers, real estate investors, business owners, renters, and homeowners who are going through life transitions, ranging from divorce to personal bankruptcy. He can be reached at (613) 890-SOLD (7653). Website: miketheagent.ca.