STITTSVILLE HOUSING MARKET UPDATE, APRIL 2017
I am pleased to provide you with the following snapshot of the real estate market for the Stittsville area. It was a very interesting month by the numbers.
This April, 66 homes were sold in Stittsville compared to 71 homes in April 2016. That is a decrease of 7% year over year. These sales bring the total number of homes sold since January 1st to 162 compared to 150 homes for the same period in 2016.[1]
The average sale price of homes sold in Stittsville also increased in April by just over 17.4% over April 2016. The average sale price went from $426,139 in 2016 to $500,280 in 2017. Breaking down sales by detached and row styles show that the average sale price of single detached homes sold in April was $551,414, up 19.4% over the same period in 2016. The average sale price for a row style home was up 6.1% to $340,487. Interesting to note that three homes in Stittsville sold at over the one-million-dollar mark in April 2017. This is an aberration for the area. If I remove these sales the market increase was 12% for detached homes. Still impressive numbers.
Looking at total days on market, the homes sold in Stittsville in April had been on the market for an average of 69.3 days, 12.3% more days than those sold in April 2016. The average days on market for the detached homes sold in April was 84.6 days while row homes, including semi-detached, sold in 21.4 days. Last year, these numbers were 64.8 and 52.6 days respectively. The overall and detached average number of days on market are higher this month in large part due to one particular home that took over three years to sell–that is over 1200 days! When this sale is removed from the calculations, average total days on market is lower in April 2017 than April 2016.
Finally, a look at the number of active listings in April shows 25% less inventory offered on the Ottawa Real Estate Board’s MLS® System[2] than in 2016. There were 123 active listings at the end of April 2017 in Stittsville. If you have any questions on any of these numbers feel free to get in touch.
If you are curious about your homes worth please fill in this form for a no-obligation market assessment.
[1] Excludes condominiums and homes on leased land.
[2] All data courtesy of the Ottawa Real Estate Board MLS® System.
