Tomasz  Witek

Tomasz Witek

Salesperson

Right at Home Realty Inc., Brokerage*

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February 2019 Ottawa real estate. Ottawa market update. Kanata Houses For Sale. Ottawa Home Values. Ottawa Houses For Sale.

February 2019 Ottawa real estate. Ottawa market update. Kanata Houses For Sale. Ottawa Home Values. Ottawa Houses For Sale.

 

Courtesy of Ottawa Real Estate Board February 2019 Ottawa Real Estate Market Statistics 

February Buyers Snap Up Limited Inventory

OTTAWA, March 5, 2019 - Members of  the  Ottawa Real Estate Board sold 1,005 residential properties in February through the Board’s Multiple Listing Service® System, compared with 978 in February 2018, an increase of 2.8 per cent. February’s sales included 756 in the residential property class, a rise of 3.8 per cent from a year ago, and  249  in  the  condominium property class, a decrease of 0.4 per cent from February 2018. The five-year average for February sales is 949.

February has been a strong month,  and  with  year-to-date unit sales 8% higher in both the condo and residential categories, it   is   looking  very  favourable for the spring market. Days  on  market  continue  to decline, and although inventory has fallen to  its  lowest level in  many years, we are still managing to satisfy demand even with 900 fewer listings than this time last year,” he adds. “If we had more supply, our unit sales would be even greater.

The average sale price of a residential-class property sold in February in  the Ottawa area was $466,540, an increase of 8.6 per cent over February 2018. The average sale price for a condominium-class property was $288,354, an increase of  5.6  per  cent  from  this  month last year. The Ottawa market is well ahead of inflation in regards to average prices for both condo and residential properties. We are in a comfortable position and remain one of the most affordable markets in the country.

The $300,000 to $449,999 range continued to represent the most active price point in the residential market, accounting for nearly 44 per cent of February’s sales while 26 per cent of residential sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in  the  condominium market, accounting for 48 per cent of the units sold.

If  you  are  thinking about selling, don’t  wait  -  get  a  jump  on  the spring market! Now is the time to have a conversation with your REALTOR® who  understands the best way to position your home in the market and has the experience to guide you through its complexities,” Delahunt suggests. “This is the type of market you certainly wouldn’t want to navigate without one.

In addition to residential and condominium sales, OREB Members assisted clients with renting 342 properties since the beginning of the year.

* The Board cautions that the average sale price can  be  useful in   establishing  trends  over  time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.

The Ottawa Real Estate Board is Ottawa’s largest trade association with over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.

The MLS® system is a Member-based service, paid for by the REALTOR® Members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to affect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).


Transcript Of My Video Follows:

Hi how are you? welcome to #TomVtecTV Thanks for watching! Today we are going to discuss our #OttawaMarketStats for #February2019 We want to keep you informed about your #OttawaCommunity and your #OttawaRealEstateMarketPerformance market performance. If you liked the video, please help out, give me a like, share the video, so that I can spread more #RealEstate news. I just wanted to do a quick recap before we get into the #MarketStatistics Basically in 2018 it was a #LowInventoryMarket in #Ottawa We have seen many multiple offers we have seen prices go up and we have seen number of sales go up both in the residential category and in the condominium category. So, #January2019 was super strong month for our #RealEstateMarket we actually had more sales than we had in decades and the increase in in prices is tremendous. #February2019 you're gonna see the statistics. #2019 will be a very strong market for the #OttawaRealEstate So, if you're planning on listing this is the perfect time to list. Again, thank you and let's talk about #OttawaRealEstateMarket statistics for #February2019 For the whole report you can access my website, my blog at https://www.justsellinghomes.ca  There are also new listings added daily to my website at https://www.justsellinghomes.ca       

Okay, so, residential average sale prices in #February2019 we have average sale prices of $466,540 and in #February2018 we have $429,668  which is an increase of eight point six percent the residential number of sales in #February2019 was 756 in #February2018 was 728 which is an increase of 3.8% The #condo average sale prices in #February2019 was $288,350 and for #February2018 it was $273,174 which is an increase of 5.6% The #condo number of  sales in #February2019 was 249 and in #February2018 was 250 which is a slight decrease so the total sales by all #OttawaRealEstateBoard members in #2019 when you add these two numbers is 1,005 when you add these two numbers is 978 for the #2018 which is an increase of 2.8 percent Now, the 5-year average for #February is 948 so you can see that the #February2019 we did actually have an increase of sales of 5.9%

 

Now, let's look at the price ranges, the most active price range in three hundred thousand and four forty nine nine nine nine which represents 44% of all February sales the price range of $500,000 to $750 thousand, it represents 26 percent of February sales and this is an increase of approximately six to eight percent because for the past few months we were hovering around 18 and 20 percent for the #condomarket the most active price range is $175 thousand to $274,999 which represents 48 percent of February units sold.

 

So, now is the time to list if you are planning to list your home it's really good time to list right now because #SpringMarket is just around the corner  and we have very strong sales in January actually we have more sales in January than we had in decades so the market is really strong and most likely just like 2018. 2019 will also be a strong market in #Ottawa Thank you for watching if you need specific information about your particular #OttawaNeighborhoods please contact me at https://www.justsellinghomes.ca I appreciate talking to you about our #OttawaRealEstateMarket Thank you.

 

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OttawaRealEstateBoardMarketStastNewsReleaseFEB_2019.pdf809.23 KB

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