Tomasz  Witek

Tomasz Witek

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Ottawa Real Estate Market Board Summer 2019 update | June, July And August 2019 Ottawa Home Values | Ottawa Houses For Sale

Summer 2019. Ottawa Real Estate Board Market Update. How Much Is My House Worth? 

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Ottawa Real Estate Market Board | Summer 2019 update | Ottawa Home Values |

Ottawa Houses For Sale

Ottawa Real Estate Market Board Summer 2019 update | June, July And August 2019 Ottawa Home Values | Ottawa Houses For Sale 

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Transcript of the video follows:

To access the #June2019 #July2019 and #August2019 #OttawaRealEstateMarket Statistics from #OttawaRealEstateBoard please go to the bottom of the page. The market performance for June, July and August of 2019 as well as Inventory levels for those months. Six files are included. Thank you. Tom Witek

Ottawa Real Estate Market Board Summer 2019 update | June, July And August 2019 Ottawa Home Values

Good morning! My name is Thomas Witek and today I wanted to talk about summer of 2019 #OttawaRealEstateMarket numbers. We're going to talk about #ResidentialAverageSalePrices #ResidentialSales We're going to talk about #CondoAverages and we're going to talk about the #HousesInventoryLevels for the past three months but before we get into tha....let's talk! about the #OttawaMarketExpectations the fall expectations, expectations fall of 2019 expectations and the expectations for 2020.

Looks like #BankofCanada most likely it's going to reduce the their interest rates. Last Wednesday they they held interest rates stable but the overall world trend is actually going into negative trends which mean the central banks are actually lending the money the banks basically for free.  So it looks like for the past basically not two years the inventory has been low the prices have been increasing in both in both property classes, in both residential and condominium class and this trend most likely is going to continue we're going to have a strong #OttawaRealEstateMarket in the fall and we're going to have a strong market in in 2020. That's just my prediction based on various factors in the economy. What can have big impact is the elections as well as the China and US trade wars...let see what happens with that but those things aside the #OttawaRealEstateMarket is really strong and it's continuing to be so into the next year. If you liked this video, smash a like, make a comment maybe there's something else we could we could talk about there are various statistical analysis that that I could do here so leave me a comment and see see what I can do next week.

Okay so let's go into it #June2019 #July2019 and #August2019 the #ResidentialAverageSales in 2018 in June we had $449,402 and in #June2019 we had $500,716, so we have, we went above the the million and the million, went above the half-a-million dollar mark for the residential averages In #Ottawa This is an increase of 11.4% Now, in July of 2018 this value dropped to $441,449 and in 2019 the value was at $487, 308 which is an increase of 10% Now, this is when we were comparing #July2018 to #July2019 and same here... #August2018 to #August2019 In 2018, the average was $433,760 and in 2019 $484,920 which is an increase of 11.8%.  So, you can see the three months were pretty stable you got eleven point four, ten point four, eleven point eight. So, on average about ten point seven or so increase that we had over twenty over the summer of 2018 for the residential sales in 2018 was sixteen eleven twenty nineteen sixteen twelve so slight increase. In July 2018 we had 1,231 and then july 2019 we had 1,382 which is an increase of 12.3% In #August2018 we had 1,185  and 2019 we had even thirteen hundred which is an increase of 9.7 percent. So, for the number of sales june was pretty stable... July we had increase of 12.3% when you compare July 2018 to 2019 and then nine point seven in August.

For the condo average sale prices we in June 2018 we had $290, 514 in June 2019 we had $308, 482 which is increase of 6.2 percent. In July2018 we had $280,560 and in july 2019 we had just shy below 300 thousand mark which is an increase of 6.8% in a #August2018 we had $277,031 and in #August2019 we have $308, 781 so we went up considerably basically June and August is it was the same it was almost the same average for the condo prices this is this is an increase of 11.5% so August which was a huge increase when you compare August 2018 to 2019Now, in terms of condos number of sales and for in June 2018 will have 453 June 2019 we had 493 July we had 374 July of 2019 we had 460 then August of 2018 who had 396 August 2019 we had 431 so this this is all positive,,,, increases look at this 8.8% in June, 23% in July and 8.8% in August. In terms of sales, July dominated this year.

Okay.. now, another important statistic... I have not I have not done the statistic in the previous videos but I think it's important to to see the inventory and the inventory that you have in June, July and August of 2019 that show trend this trend is almost the same starting from January of 2019 and it's almost the same in  2018 so look at look at this.. this is residential row and and this is Condo row. You have 2019 vs 2018, 2019 vs 2018, and 2019 vs 2018 for June, July and August. So, in 2019 we had 3,036 listings at the end of June. In 2018, we had 3,900 listings at the end of June which is a decrease of - 22.2% July 2,986 and in July of 2018 it was 3,777 which is a decrease of almost 21% In August of 2019 we had 2,758 and in august of 2018 we had 3,548 which is also a decrease of 22.3% in listings. and condo it's the same throughout look at this 43%, 42% in July and 44% in August. This is comparing to June, July, August of 2019 to June, July, August of 2018. So, basically... it's throughout the board it's around hovering around 23% for the residential category and 43% for the condo category. So, this is as if 50% of condo listings were missing whereas a year ago we had 1,336 listings. This is why prices are going up there's less inventory. So, it's quite important to understand the statistics and trends and another trend I can easily do is for your particular neighborhood. So, if you're thinking of selling this #fall2019 or in 2020 please give me a call and we can sit down and discuss.  I appreciate you watching please share the video, smash me a like, make a comment and subscribe so that you can  receive future #OttawaRealEstate related content. Thank you. I appreciate you.

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AttachmentSize
NewsReleaseJUNE_2019.pdf843.92 KB
NewsReleaseJUL_2019.pdf855.82 KB
NewsReleaseAUG_2019.pdf890.74 KB
Inventory by Month - Res & Condo - June 2019.pdf136.29 KB
Inventory by Month - Res & Condo - July 2019.pdf136.31 KB
Inventory by Month - Res & Condo - Aug 2019.pdf138.08 KB

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