Courtesy of The MacGowan Team

Ottawa’s Resale Market Thrives Despite Pandemic

AVERAGE SALE PRICE $603,880 residential UP 20.6% year-over-year

January 6, 2021 - Members of the Ottawa Real Estate Board (OREB)

sold 1,002 residential properties in December through the Board’s Multiple Listing Service® System. December ’s sales included 710 in the residential property class, up 33.7 per cent from a year ago, and 292 in the condominium property class, an increase of 29.2 per cent from December 2019. “At the start of the pandemic, we didn’t know what to expect. We had a momentary stall as did most businesses; however, once real estate was deemed to be an essential service, REALTORS® worked with Buyers and Sellers to ensure safety in the process, and the market picked back up and accelerated past all expectations throughout the remainder of the year.” States OREB 2021 President Debra Wright. December ’s average sale price for a condominium-class property was $355,982, an increase of 14.4 per cent from a year ago, while the average sale price of a residential-class property was $603,880, an increase of 20.6 per cent from December 2019. Year-end figures show an average sale price of $582,267 for residential- class properties and $361,337 for condominium units in 2020. These values represent a 20 per cent and 19 percent increase over 2019, respectively. - Source: Ottawa Real Estate Board

$355,982 condo UP 14.4% year-over-year AVERAGE SALE PRICE

PROPERTY SALES

PROPERTY SALES

residential

condo 292

710

Stats are Reflective of December 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 ken@kenmacgowan.com 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

Privacy Disclosure: We respect your privacy. The sponsor indicated on the front panel provides a complimentary subscription of this publication to you, a valued client. If at any time or for any reason you do not want to receive this publication, please contact the sponsor using any of the contact info on the front panel, and your personal information will be removed from the mailing list immediately. Without response to this cancellation offer, we assume your implied consent and permission to continue provision. Disclaimer: This publication is distributed for the purpose of information only. It is not intended to solicit buyers or sellers currently under contract by a real estate firm or under contract with another Broker or Mortgage Specialist, nor is it intended to cause or induce breach of any existing agreement. Distributed by: dmsmarketing.ca Copyright© 2021 All Rights Reserved / Printed on recyclable material. The trademarks REALTOR ® , REALTORS ® and the REALTOR ® logo are controlled by CREA and identify real estate professionals who are members of CREA.