Tomasz  Witek

Tomasz Witek


eXp Realty of Canada, Inc., Brokerage *

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March 2018 Ottawa Real Estate Market Update And Trends


Welcome to Please contact me for #AverageSalesPrices in your #OttawaNeighborhood


Transcript follows:

Good morning this is #TomWitek with  You can check out my website for more #RealEstate related information. I am an #OttawaRealEstateSalesperson and I am here to present March 2018 #OttawaRealEstate data.  You can easily download the pdf of the presented information with even more #realestateinformation from my website, once I post it, it should take...probably today. You can go to  go to my Blog and you will be able to download this information. So let's start, so for the properties sold in March 2018, so 2017 versus 2018 we had 1,478 houses sell in March of 2017 versus 1,660 sold March of 2018. This is march of 2018 and we have an increase in sales by 12.3%  Five year average is 1,339. INVENTORY IS STILL  LOW! This is probably the 4th month that the inventory is low on the #OttawaRealEstateMarket  Now, properties priced well are selling quicker, in March 2018 the #AverageDaysOnTheMarket was 43 days versus March 2017 where the #AverageDaysOnTheMarket was 54 days.

Now, we can break this down various ways, but this is the gist of it. Fir the #March average prices for the #OttawaResidential we have $447,561 which is an increase of 8% over March 2017. In the #Condominium class we have #AverageSalesPrices of $275,592 which is a slight increase of 0.7% versus the March 2017 data. This is pretty interesting... The most active price range continues to be in the $300,000-$449,900 price range and there were exactly 600 homes sales in #March2018  Now, in the $500,000 to $750,000 price range, there was a staggering increase in sales in #March2018 and this $500,000 to $750,000 price range represents 21% of all sales in the #residential class. so, it's the #homes that sold in the #Residential class. And there were 272 sales in #March2018   so just as I mentioned previous month, there was, you could see this spike, and it's exactly same #priceranges You have people selling houses in $300,000-$449,900 #pricepoints and then most likely moving up to $500,000 to $750,000 price range. and I was saying this last month and now for sure you can see this trend because of the 21% increase of all homes sold in that #pricerange that sold in #March2018 For the #condo #pricepoint you have $175,000-$274,999 which accounts for, so this #price range of $175,000-$274,999 accounts for 51% of #sales in the whole #OttawaCondoMarket   

So depending where your property is or where you want to buy, you can kind of see where is the most movement.  Now, what's very interesting, and this wasn't like this last month, but this month #homes that sold $350,000 and up to a million and then million and over, have a positive, positive increase. So basically, there were more sales, in #March2018  than #March2017 within that #pricerange so $350,000 and up you can see more #sales this #March2018 than the previous #March Just a quick statistic about #rentals #OttawaRealEstateBaord members rented 551 units I believe, last month it was around 300 or so, #February2018 ok, so what else can I say, ok, #TotalSalesVolume is up by 20.6% in the #residential class so you can see it's a huge increase versus #March2017 you have almost 21%  increase in the #residential class and you can easily see this numbers and more by accessing my website at to get the statistics for #March2018 and previous months and you can get #AverageSalesPrices #NumberOfSales (Number of #homes sold) for various #PropertyClasses This gives you an indication  whether you are selling in certain #pricepoint or certain #propertyclass it will give you an indication of what's selling and if you are buying in that #pricepoint and/or a specific #house it will show you basically which #houses are moving quicker.  It's #SellersMarket in #Ottawa right now, and you really have to be prepared to put forth your best...your best offer, we are finding more and more #MultipleOffer situations and you really need a #Realtor to guide you through the process. also, please remember that whenever the property hits the market there is usually a delay of 48 hours. When you work with a #Realtor you actually get that listing as soon as another agent enters this information into the agent's database. I appreciate you watching, you can contact me at  All The Best!        

March 2018 Ottawa Real Estate Market Update And Trends-Ottawa home values-selling homes ottawa-Ottawa real estate market update-Tom Witek.pdf870.07 KB

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