STITTSVILLE HOUSING MARKET UPDATE, AUGUST 2017
The Ottawa weather in July broke many records. Can the same be said for real estate sales in Stittsville?
In July, 55 homes sold in Stittsville compared to 44 homes in July 2016. That is an increase of 25% year over year. These sales bring the total number of homes sold since January 1st to 383 compared to 342 homes for the same period in 2016.[1]
The average sale price of homes sold in Stittsville increased in July by just over 21.7% over July 2016. Average sale price went from $398,155 in 2016 to $484,367 in 2017. Breaking down sales by detached and row styles shows that the average sale price of single detached homes sold in July was $525,327, up 16% over the same period in 2016. The average sale price for a row style home was up 6% to $320,527.
Looking at total days on market, the homes sold in Stittsville in July had been on the market for an average of 49.8 days, 27.1% fewer days than those sold in July 2016. The average days on market for the detached homes sold in July was 58.6 days while row homes, including semi-detached, sold in 14.5 days. Last year, this number was 68.3 detached, row, and all combined. Note that days on market includes the days where the property is considered “conditionally sold.”
Finally, a look at the number of active listings in July shows 34.9% less inventory offered on the Ottawa Real Estate Board’s MLS® System than in 2016.[2] There were 84 active listings at the end of July 2017 in Stittsville. Of this number, 20 listings are townhouses currently under
[1] Excludes condominiums and homes on leased land.
[2] All data courtesy of the Ottawa Real Estate Board MLS® System.
