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Ottawa Market Stats – May, 2015

Posted on: June 5th, 2015 by Chris Scott

The Ottawa resale market remains steady and strong!

This has been the most active May since 2009. Despite all the doom and gloom you hear on the news, the Ottawa real estate market remains very stable. The inventory levels are high which means lots of selection for buyers. By most accounts it would be considered a buyers’ market right now in Ottawa – especially in the central condo market.

Members of the Ottawa Real Estate Board sold 1,926 residential properties in May through the Board’s Multiple Listing Service® system, compared with 1,789 in May 2014, an increase of 7.7 per cent. The five-year average for May sales is 1,812.

The average cumulative days on market was 72 days in May, compared to 74 last month.  The average sale price of a residential-class property sold in May in the Ottawa area was $411,791, an increase of 2.6 per cent over May 2014. The average sale price for a condominium-class property was $266,940, a decrease of 4.9 per cent over May 2014.

Since every area is slightly different, please don’t hesitate to give me a call if you are curious about what is happening in your neighborhood.


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