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2019 A Record Breaking Year for Ottawa Real Estate

2019 A record-breaking year for Ottawa real estate 

Ottawa real estate agents sold 761 residential homes in Ottawa during December using the Ottawa MLS platform. This Compares with 660 residential homes sold in December 2018 and increase of 15.3%.

Freehold residential properties: December sales included 534 units of freehold houses (non-condominiums) and that is 13.9% higher than December 2018.

Condominiums: 227 units of Ottawa condos were sold which is an increase of almost 19% from a year ago during the same month.

These December stats reflect the trend that continued throughout 2019 with a low inventory yet higher unit sales. The number of days listings on the Ottawa MLS stayed on the market continued to decline especially in the most attractive neighborhoods of Ottawa. 

Sale Volume: The total number of residential and condo units sold in 2019 in Ottawa was 18,622, an increase of 6.6% over 2018 Freehold houses sales increased by 4.7% while Ottawa condos increased by 13% over 2018.

the year was a record breaker in both the number of sales as well as the average prices.

Prices: the average price of freehold houses reached $500,000 in several months during 2019. December's average sales price for Ottawa condos stands at $310,675, an increase of 11.5 percent from a year ago. The average sales price of a freehold house stands that $500,306 and that is an increase of just over 10% from December 2018.

By the end of December 2019 the average sale price of Freehold house was $486,600 an increase of almost 9% from 2018 while Ottawa condo prices ended up at $304,000 an increase of over 9% from 2018.                   

(Source: Ottawa Real Estate Board)

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