From the blog...
Market Update, June 2016
HOT JUNE MARKET!
Members of the Ottawa Real Estate Board sold 1,985 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,691 in June 2015, an increase of 17.4 per cent. The five-year average for June sales is 1,717. June sales turned out to be the highest sales in any month EVER in the history of the Ottawa market.
There is usually a dip in sales as we move from May to June with May generally being the “peak” month. We will be watching the trend over the summer when sales typically slow down.
Year-to-date units sold for the first half of 2016 are up 5.4% compared to the first half of last year. A total of 3,220 residential and condo properties were listed in June, capping the month off with approximately 8,300 properties on the market, down 11.5 per cent from June 2015.
The average sale price of a residential-class property sold in June in the Ottawa area was $399,382, a decrease of 1.3 per cent over June 2015. The average sale price for a condominium-class property was $264,913, a decrease of 2.4 per cent over June 2015. Residential two-storey and bungalows continue to have the highest concentration of buyers in June.
Referrals are extremely important to me and to the success of my business and every neighbourhood has its differences- so if you are thinking of buying or selling, please give me a call.
Chris