Home sales through the MLS system of the Ottawa Real Estate Board in December broke the record for the month. There were 703 sales, up 10.2 per cent on the same month in 2014 and far exceeding the 5-year average of 653.
“We saw the busy spring selling season pick up as early as March this year, and continue well throughout the summer, with a small dip in July, followed by record-breaking sale numbers in September. Three months later, December broke the record for the highest number of residential and condo properties sold at 703 units, only comparable to 2011, when 699 properties sold” Shane Silva, the board’s new president commented.
The total number of residential and condo units sold throughout all of 2015 was 14,658, compared with 13,919 in 2014, an increase of 5.3 per cent. The average sale price of a residential-class property sold in December in the Ottawa area was $386,961, an increase of 5.5 per cent over December 2014. The average sale price for a condominium-class property was $250,393, a decrease of 7.5 per cent over December 2014.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: