April 2020 Market Stats: Infographic & Report

Thursday, May 7, 2020   /   by Boardwalk Ottawa

April 2020 Market Stats: Infographic & Report

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April 2020 market stats are here!

Members of the Ottawa Real Estate Board sold 913 residential properties in April through the Board's Multiple Listing Service® (MLS) System, compared with 2,025 in April 2019, a decrease of 55%.

“While the number of unit sales has decreased substantially, residential prices are still holding their own and are up over last year’s figures, with properties often selling above the asking price,” “states Ottawa Real Estate Board President Deb Burgoyne. “There is still a holdover of pent-up demand in our marketplace. We believe that when the market opens up again, although it won’t be business as usual, sales will rebound and make up for the decline the spring market has experienced," she adds.

In addition to residential and condominium sales, OREB Members assisted clients with renting 947 properties since the beginning of the year compared to 778 at this time last year.  

Here's a breakdown of the average sale prices & year & over-year increases/decreases in Ottawa:

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If you're a potential home buyer or seller, and in a situation where it is essential that you buy or sell a property right now, there are means to do this in a safe and prudent manner. Do not hesitate to contact one of our agents to discuss-plan and protect you through this unique period. We have been working hard to move the majority of our business online so your entire real estate transaction can be completed virtually and safely. Get the scoop of our recently sold properties here.

Disclaimer: 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.

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The information contained on this site is based in whole or in part on information that is provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy. This website is operated by a brokerage or salesperson who is a member of The Canadian Real Estate Association. MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association. The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole,or in part, is specifically forbidden. May 24, 2020