November 2016 Ottawa real estate sales increased by 0.9 percent from November 2015, with a total of 995 residential properties sold. Of those sales, 765 of them were residential, and 230 of them were condominiums.
According to the president of the Ottawa Real Estate Board (OREB) Rick Eisert, “Year-to-date unit sales to the end of November have now surpassed all previous year-end totals. This year has been an exceptional year for sales for Ottawa Real Estate Board Members, and the year isn’t even over yet. The cumulative days on market have shown a steady decline for the first six months of the year, then has shown the same steady increase, so that the cumulative days on market in November (105 days) essentially mirrored that of January (110 days).”
The sale price of residential homes has increased from last November by 6.5 percent, with an average of $405,320 in November 2016. Condominium prices have also seen an increase of 1 percent from last November, with an average of $277,650 in November 2016.