September 2016 Ottawa real estate sales increased by 10.5 percent from September 2015, with a total of 1,371 residential properties sold. Of those sales, 1,102 of them were residential, and 269 of them were condominiums.
According to the president of the Ottawa Real Estate Board (OREB) Shane Silva, “Again this month, we have broken the record for residential and condominium units sold, with 200 more units sold than the five-year average for September sales. With average sale prices remaining virtually unchanged since the beginning of the year, this could be an indication that prices have adjusted to market expectations and sales have rebounded as a result.”
The sale price of residential homes has decreased from last September by 0.1 percent, with an average of $383,793 in September 2016. Condominium prices have also seen a decrease of 2 percent from last September, with an average of $252,136 in September 2016.