Courtesy of Geoff & Bobbie
January Resales Lose Momentum Ottawa February 5, 2020 - Members of the Ottawa Real Estate Board sold 780 residential properties in January
AVERAGE SALE PRICE $516,229 residential UP 19.3% year-over-year
through the Board’s Multiple Listing Service® System, compared with 817 in January 2019, a decrease of 4.5 per cent. January’s sales included 558 in the residential-property class, down 8.4 per cent from a year ago, and 222 in the condominium-property category, an increase of 6.7 per cent from January 2019. The five-year average for January unit sales is 713. “2020 is off to a slower start as the shortage of inventory is now impacting market momentum,” states Ottawa Real Estate Board’s President Deborah Burgoyne. “Although we have higher sales than the five-year average, due to increased condo sales, the persistent supply challenges seem to have finally caught up with us. Furthermore, the number of new listings that came on the market in January (1,082) is well below the average (1,651).” January’s average sale price for a condominium- class property was $338,077, an increase of 19.1 per cent from last year while the average sale price of a residential-class property was $516,229, an increase of 19.3 per cent from a year ago. - Source: Ottawa Real Estate Board
$338,077 condo UP 19.1% year-over-year AVERAGE SALE PRICE
Stats are Reflective of January 2020 Source: Ottawa Real Estate Board
Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.
Direct. 613.791.5480 firstname.lastname@example.org www.KenMacGowan.com
Mike MacGowan Sales Representative 613.859.1317
Ken MacGowan B.Comm., CPA, CMA, Real Estate Broker 613.791.5480
Daren MacGowan Sales Representative 613.324.5294
Each Office Independently Owned and Operated. Unit 1, 5517 Hazeldean Road Ottawa, ON K2S 0P5 Affiliates Realty Ltd., Brokerage
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