June OREB Stats

While the unforgettable winter of 2014 is over, its reluctance to end created a pent up demand from the spring that added to June sales. The Ottawa market posted positive numbers in May and June and the average sale price increased by 1.5 percent over a year ago.

Members of the Ottawa Real Estate Board sold 1,661 residential properties in June through the Board’s Multiple Listing Service compared with 1,593 in June 2013, an increase of 4.3 percent (the 5 year average for June is 1,636). The average sale price for residential properties, including condominiums, sold in June in the Ottawa area was $364,264, an increase of 1.4 percent over June 2013. The average sale price is calculated based on the total dollar volume of all properties sold.

In the condominium property class 316 sales were recorded, with an average sale price of $258,135, a decrease of 2.8 percent over June 2013. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) that is registered as a condominium, as well as properties that are co-operatives, life leases and timeshares.

The residential property class continued to remain strong and recorded 1,345 sales last month with an average sale price of $389,198, an increase of 1.8 percent over June 2013. The residential property class includes all other residential properties not included in the condominium property class.

It’s a great time to buy or sell in the Ottawa area.  If you are thinking about selling, and want an accurate, professional evaluation of your home’s current market value, the Hooper Home Team would be happy to share their expertise and knowledge and assist you to price your home and get it sold quickly and for top dollar. If you want to buy a home in the Ottawa market, our experienced buyers specialists will help you find what you are looking for.  Contact us today.