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Record Breaking December

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Blog by Lynda Gibson | January 14th, 2016

Statistics courtesy of the Ottawa Real Estate Board.

December broke the record for home sales in the Ottawa area. 703 properties were sold through the Board's MLS system. This included 160 condominiums and 543 in the residential property class.  This is an increase of 10.2% over 2014 where a total of 638 homes were sold.  The average sale price of a residential-class property sold in December in the Ottawa area was $386,961 an increase of 5.5% over December 2014.  The average sale price for a condominium-class property was $250,393, a decrease of 7.5% over December 2014. There was high inventory in the condominium market which may have contributed to the decrease in selling price. If December is any indicator moving into 2016 is going to be postive.  You have to use caution with statistics.  While the average sale price information can be useful in establishing trends over time, these numbers should not be used as an indicator that specific properties have increased or decreased in value.  The average sale price is calculated based on the total dollar volume of all properties sold.