OTTAWA, March 5, 2019
Members of the Ottawa Real
Estate Board sold 1,005 residential
properties in February through the
Board’s Multiple Listing Service®
System, compared with 978 in
February 2018, an increase of 2.8
per cent. February’s sales included
756 in the residential property class,
a rise of 3.8 per cent from a year ago,
and 249 in the condominium
property class, a decrease of 0.4
per cent from February 2018. The
five-year average for February
sales is 949.
“February has been a strong
month, and with year-to-date
unit sales 8% higher in both the
condo and residential categories,
it is looking very favourable
for the spring market,” states
Ottawa Real Estate Board’s 2019
President, Dwight Delahunt.
“Days on market continue to
decline, and although inventory has
fallen to its lowest level in many
years, we are still managing to satisfy
demand even with 900 fewer listings
than this time last year,” he adds. “If
we had more supply, our unit sales
would be even greater.”
The average sale price of a
residential-class property sold in
February in the Ottawa area was
$466,540, an increase of 8.6 per cent
over February 2018. The average
sale price for a condominium-class
property was $288,354, an increase
of 5.6 per cent from this month
last year.*
“The Ottawa market is well ahead
of inflation in regards to average
prices for both condo and residential
properties. We are in a comfortable
position and remain one of the most
affordable markets in the country,”
Delahunt points out.
The $300,000 to $449,999 range
continued to represent the most
active price point in the residential
market, accounting for nearly 44 per
cent of February’s sales while 26 per
cent of residential sales were in the
$500,000 to $750,000 price range.
Between $175,000 to $274,999
remained the most prevalent price
point in the condominium market,
accounting for 48 per cent of the
units sold.
“If you are thinking about selling,
don’t wait – get a jump on the
spring market! Now is the time to
have a conversation with your
REALTOR® who understands
the best way to position your
home in the market and has the
experience to guide you through
its complexities,” Delahunt
suggests. “This is the type of
market you certainly wouldn’t
want to navigate without one.”
In addition to residential and
condominium sales, OREB
Members assisted clients with
renting 342 properties since the
beginning of the year.
* The Board cautions that the
average sale price can be useful
in establishing trends over time
but should not be used as an
indicator that specific properties have
increased or decreased in value. The
calculation of the average sale price is
based on the total dollar volume of all
properties sold. Price and conditions
will vary from neighbourhood to
neighbourhood.