Tomasz  Witek

Tomasz Witek

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eXp Realty of Canada, Inc., Brokerage *

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Spring, Summer 2019. Ottawa Real Estate Market Update. How much is my house worth?

Spring, Summer 2019. Ottawa Real Estate Market Update. How much is my house worth? 




 




Hi this is Tom VTEC TV Thank you for watching please visit https://www.justsellinghomes.ca/ to get more information about me and the #OttawaRealEstateMarket Thank you I appreciate you watching it, you can also search for future #OttawaListings at https://www.justsellinghomes.ca/ please download the reports for  #March2019 #April2019 and #May2019 at my blog just go to my website https://www.justsellinghomes.ca/  and then click on #OttawaNeighbourhoodsBlog and you can download all this information broken down into specific categories.

Today we're going to discuss #OttawaRealEstate #Spring2019 #OttawaMarket statistics, very exciting to see those statistics come out and I did some analysis on and comparing 2018 to 2019. Okay, so let's start.....The residential averages for 2018 and 2019 in March of 2018 it was $447,936 and March of 2019 it was $480,143 which is increase of 7.2% The residential number of sales for March of 2018 was 1,297 and for March of 2019 it was 1,136, which is actually a decrease of twelve point four percent.

Condo averages sale prices for March of 2018 was $275,712 and for March 2019 it was two hundred ninety thousand one eighty one which is an increase of five point two percent the condo number of sales for March 2018 it was 357 units and for March 2019 it was three hundred seventy five units which is an increase of 5%. Total sales by Ottawa Teal Estate Board members so when you add up those two numbers you get thousand 1,654 in 2018 and in March of 2019 you've got 1,511 which is a decrease of 8.6 percent okay so we can discuss after and now analyze what happened here I just want to go basically first through the numbers so April 2018 the residential average sale prices was four hundred fifty four thousand nine fifty nine in April 2019 it was $488,729 which is an increase of 7.4 percent.

In April 2018, there is a residential number of sales it was thousand six hundred eight and in April 2019 it was thousand five hundred ninety-four which is a decrease of almost 1%. In April of 2018, the #condo average sale prices were $269,274 and in April 2019 it was $307,659 which is a stunning increase of 14.3%. For the condo number of sales in April 2018, the number was 416 units and in 2019 for 438 units, which is an increase of 5.3 percent. In April 2018, the total sales by all OREB members was 2,024 and in April 2019 it was 2,032 which is a slight increase of 0.4 percent. Now, in May of 2018 residential average sale prices was $464,204 and in May of 2019 $493,691, which is an increase of 6.4% in May of 2018.

The residential number of sales where One thousand seven hundred eighty six and in 2019 it was thousand eight hundred sixty-nine, which is an increase of four point percent. Now, for the condo average sale prices in May of 2018 the price was $281,453 and the average price in May of 2019 is $297,731 which is an increase of 5.8% the #condo number of sales you can see May 2018 was 485 #May2019 was 554, which is an increase of 14.2% and for again for the total sales by Ottawa Real Estate Board members in May of 2018 you had two thousand two hundred seventy-one and in #May2019 2423, which is 6.7% increase.


So, one analysis we can do it's at higher level but we can also do neighbourhood analysis and Street analysis, if you need to know sold prices in your neighbourhood and on your street, please contact me directly so we can sit down and have a chart now that we went through this basic time numbers what's the analysis here what happens in those three months in spring in #Ottawa

You can see the big impact on the condo market we in 2019 we had the 290 thousand Okay, that was in March of 2019 then there was a sudden jump of $17,000 on average the prices went up in April okay people were buying in April and in comparison to 2018 that number jumped 14 percent and what happened then in May the condo prices kind of leveled went down again by $10,000 so now I wonder what's going to happen #June2019 , #July2019 and #August2019 most likely because the condo market is hot and basically, there is low inventory of homes in #Ottawa and the prices of singles have gone up considerably we think that basically condo market is going to continue this trend and most likely we're going to see increase in prices in this kind of price range right around $300k, hovering around 300K, because $300k and above is that mental threshold so watch out for the #condomarket in the summer months it should be interesting.....

So, you can see residential average sale prices jumped to seven point two in March to seven point four in April and to six point four in May it's still low inventory market a hot seller's market in here for the total sales that's condominium and residential we've seen that in March we actually sold less than the last year but the main reason for that was that basically it was #LowInventoryOfHomes in #Ottawa and also here even though it was low inventory of homes we still sold almost the same number in April of 2019 as April of 2018 and then you see a jump of 6.7% in total sales when you compare make 2019 to May 2018 for the #Condo number of sales this is a huge number fourteen point two percent and it means basically the number of sales increased by fourteen percent so you see the spring 2019 is it's going to be known as low inventory as it was #January2019 #February2019 and #March2019 it was all so long inventory so throughout the year so far we have low inventory market in #Ottawa

To get more of the statistics visit https://www.justsellinghomes.ca/ you can visit my blog (JUST BELOW) and you can download all of the data for the months of March 2019, April 2019 and May 2019, and if you need sales data for your #OttawaNeighbourhood please give me a call we can sit down I can show you basically, how to get your home sold and I can share with you how we can market your home to get you top dollar for your home you can visit https://www.justsellinghomes.ca/node/add/contactSite to get in touch with me - #TomaszWitek #OttawaRealEstateSalesperson 

Spring, Summer 2019. Ottawa Real Estate Market Update. How much is my house worth? 

 

AttachmentSize
Ottawa Real Estate Market Stats March_2019.pdf798.98 KB
Ottawa Real Estate Market Stats April_2019.pdf961.59 KB
Ottawa Real Estate Market Stats MAY_2019.pdf610.9 KB

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