Ottawa Market Real Estate Update

The Facts for December 2015

Number of combined Residential & Condominium sales was 703

  • Increase of 10.2% compared to 638 sales in December 2014

Breakdown:

  • Number of residential sales was 543
  • Increase of 9.7% compared to 495 sales in December 2014
  • Number of condominium sales was 160
  • Increase of 11.9% compared to 143 sales in December 2014

 

The 5 year average for the number of December sales is 653

 

Average sale price of all residential homes, including condominiums was 355,878

  • Increase of 3% compared to $345,336 in December 2014

 

Breakdown:

  • Average Sale Price of residential homes was $386,961
  • Increase of 5.5% compared to $366,883 in December 2014
  • Average Sale Price of condominiums was $250,393
  • Decrease of -7.5% compared to $270,748 in December 2014

 

Average Cumulative Days on Market was 109 (residential and condominium combined)

  • Increase of 2% compared to 106 days on the market in December 2014

Breakdown:

  • Cumulative days on Market for residential properties was 108
  • Cumulative days on Market for condominium properties was 114

 

New Listings taken was 974 (residential and condominium combined)

  • Increase of 1.7% compared to 958 new listings taken in December 2014

Breakdown:

  • New residential listing was 704 (738 in December 2014)
  • New condominium listings was 270 (220 in December 2014)

 

Inventory Absorption Rate is 8 months (Same as December 2014)

Breakdown:

  • Residential absorption rate is 7 months
  • Condominium absorption rate is 9 months

 

Sales to Inventory Ratio is 13% (12% in December 2014)

  • (Buyer Market) A Balanced Market is 15% to 25%

Breakdown:

  • Residential sales to inventory ratio is 14% (Balanced Market)
  • Condominium sales to inventory ratio is 11% (Buyer Market)

 

Average Sale Price to Average List Price Ratio Combined = 96.2%

Breakdown:

  • Residential = 96.3%
  • Condominium = 95.8%

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