Tuesday, June 23, 2020 / by Alanna Wright
May 2020 market stats are here!
Members of the Ottawa Real Estate Board sold 1,345 residential properties in May through the Board's Multiple Listing Service® (MLS) System, compared with 2,410 in May 2019, a decrease of 44%.
"Just as May’s temperatures had us questioning what season we were in, our real estate market also underwent a seasonal switch, so to speak,” notes Ottawa Real Estate Board President Deborah Burgoyne. “This spring market is performing more like a fall market with the number of new listings and resales on par with what typically occurs in late October and November.”
In addition to residential and condominium sales, OREB Members assisted clients with renting 1,207 properties since the beginning of the year compared to 1,043 at this time last year.
Here's a breakdown of the average sale prices & year & over-year increases/decreases in Ottawa:
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 featured listings 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.