How did the Ottawa Condo Market do in 2011?

Wondering how the Ottawa condo market is doing? Statistics from the Ottawa Real Estate Board show that condo prices have continued to rise in 2011. The number of condos sold on the Ottawa Real Estate Board's MLS® has also increased. Average price for a condominium in Ottawa now stands at $261,356. An increase of 5% over 2010 when the average condo price was $248,717

The average days on market however has increased over 2010. The average days on market for a condo in Ottawa now stands at 34 days for 2011 compared to 27 days in 2010.

The total number of condos sold in 2010 was 3231. In 2011, this amount has gone up to 3304.

Interested in buying a condo? Selling a condo? Or flipping a condo?

Give me a call today I would be happy to discuss your real estate needs with you.

Roch St-Georges, Sales Representative with HomeLife Capital Realty Inc in Ottawa, Ontario.

Direct: 613-800-2211
Office: 613-627-4141 x 223

OREB MLS® Real Estate Statistics April 2011

Members of the Ottawa Real Estate Board sold 1,536 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,814 in April 2010, a decrease of 15.3 per cent. The five-year average for home sales in April is 1,612.

Of those sales, 316 were in the condominium property class, while 1,220 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties, which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Sales in April 2010 soared well above average in advance of the implementation of the Harmonized Sales Tax in Ontario last July. Normally in Ottawa, we see a brisker sales period beginning at the end of April or early May, but last year’s spring market started earlier by about three months due to the HST. That surge in sales pushed April’s five-year average up significantly; it’s not out of the ordinary for about 1,500 homes to be sold in April in our market,” said Board President Joanne Tibbles.

“Home prices still continued to rise at the usual moderate rate last month, demonstrating a solid demand for resale homes in Ottawa. Re-sale housing inventory is up 17.2 per cent from this time last year, indicating that Ottawa is clearly in a healthy, balanced market,” Tibbles added.

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $351,226, an increase of 5.4 per cent over April 2010. The average sale price for a condominium-class property was $255,232, an increase of 2.1 per cent over April 2010. The average sale price of a residential-class property was $376,090, an increase of 5.4 per cent over April 2010. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

Source OREB

Resale homes sold more quickly in February - 2011

March 3, 2011 : Resale homes sold more quickly in February [2011]

Members of the Ottawa Real Estate Board sold 936 residential properties in February through the Board’s Multiple Listing Service® system compared with 1,030 in February 2010, a decrease of 9.1 per cent.

Of those sales, 213 were in the condominium property class, while 723 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Once again we’re seeing sales numbers very close to the five-year average for February, which is 962 sales. It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa,” said Board President Joanne Tibbles. “This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it, perhaps even going up against other bidders,” Tibbles added.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $338,408, an increase of 6.7 per cent over February 2010. The average sale price for a condominium-class property was $260,112, an increase of 6 per cent over February 2010. The average sale price of a residential-class property was $361,475, an increase of 6.9 per cent over February 2010. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

Source OREB

Stats November 2010 - Ottawa East

The neighborhood of Ottawa East in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a 50% drop for the neighborhood of Ottawa East when compared to November 2009. Average days on market have gone down dramatically to 7% over last year for the Ottawa East area. Homes in the residential class have been selling at an average of $485,450 when compared to Ottawa East stats for November 2009 this is a 17% increase.

Stats November 2010 - Hunt Club

The neighborhood of  Hunt Club, Hunt Club Woods and Western Communities in Ottawa, Ontario saw a total of 4 sales during the month of November 2010. This is a 50% drop for the neighborhood of Hunt Club, Hunt Club Woods and the Western Communities when compared to November 2009. Average days on market have gone up 45% over last year for the Hunt Club area. Homes in the residential class have been selling at an average of $381,753 when compared to Ottawa East stats for November 2009 this is a 9% decrease.

Stats November 2010 - Westboro

The neighborhood of  Westboro & Hampton Park in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a sharp 250% drop for the neighborhood ofWestboro & Hampton Park when compared to November 2009 which saw a total of 7  sales. Average days on market have gone down up by 49% over last year for theWestboro & Hampton Park area. Homes in the residential class have been selling at an average of $677,500 when compared to Westboro & Hampton Parkstats for November 2009 this is a 18% increase.

Stats November 2010 - Carlington

The neighborhood of  Carlington in Ottawa, Ontario saw a total of 8 sales during the month of November 2010. This is the same amount the neighborhood of Carlington saw in November 2009. Average days on market have gone down dramatically to 225% over last year for the Carlington area. Homes in the residential class have been selling at an average of $273,737 when compared to Carlington stats for November 2009 this is a 7% increase.

Stats November 2010 - West Centre Town

The neighborhood of West Centre Town in Ottawa, Ontario saw a total of 1 sale during the month of November 2010. This is a decrease for the neighborhood of West Centre Townwhen compared to November 2009 which saw 2 sales. Average days on market have gone down over last year for the West Centre Town area. Homes in the residential class have been selling at an average of $388,000 when compared to West Centre Town stats for November 2009 this is a 14% increase.

Stats November 2010 Elmvale Acres

he neighborhood of Elmvale Acres in Ottawa, Ontario saw a total of 6 sales during the month of November 2010. This is an increase for the neighborhood of Elmvale Acres when compared to November 2009 which saw a total of 5 sales. Average days on market have gone down over last year for the Elmvale Acres area. Homes in the residential class have been selling at an average of $314,833 when compared to Elmvale Acres stats for November 2009 this is a 8% increase.

Stats November 2010 - Quartier Vanier

The neighborhood of Vanier in Ottawa, Ontario saw a total of 6 sales during the month of November 2010. This is a 50% decrease for the neighborhood of Vanier compared to November 2009. Average days on market have gone up 52% over last year for the Vanier area. Homes in the residential class have been selling at an average of $261,108 when compared to Vanier’s stats for November 2009.

Stats November 2010 - Overbrook and Castle Heights

The neighborhood of Castle Heights and Overbrook in Ottawa, Ontario saw a total of 8 sales during the month of November 2010. This is an increase of 1 for the neighborhood of Castle Heights and Overbrook when compared to November 2009. Average days on market have gone up 58% over last year for the Castle Heights and Overbrook area. Homes in the residential class have been selling at an average of $313,750 an increase of 15% over last year’s $266,285 average.

Stats November 2010 - Carson Meadows

The neighborhood of Carson Meadows located a few minutes from Downtown Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is average of the neighborhood of Carson Meadows considering the time of year. Average days on market have gone down to 24 days. Homes in the residential class have been selling at an average of $323,000 an increase of 17% over last year’s $267,500 average (November 2009). Note Carson Meadows is located nearby Carson Grove neighborhood.

Stats November 2010 - Alta Vista

The neighborhood of Alta Vista in Ottawa, Ontario saw a total of 4 sales during the month of November 2010. This is a 25% decrease for the neighborhood of Alta Vista when compared to November 2009. Average days on market have gone up down 73% over last year for the Alta Vista area. Homes in the residential class have been selling at an average of $496,900 when compared to Alta Vista stats for November 2009 this is a 1% increase.

Stats November 2010 - Blackburn Hamlet

The neighborhood of  Blackburn Hamlet located East of downtown Ottawa before Orleans, Ontario saw a total of 3 sales during the month of November 2010. This is a 67% decrease for the neighborhood of Blackburn Hamlet when compared to November 2009. Average days on market have gone up up 33% over last year for the Blackburn Hamlet and Blackburn Hamlet South area. Homes in the residential class have been selling at an average of $340,500 when compared to Blackburn Hamlet stats for November 2009 this is a 1% decrease.

Stats November 2010 - Manor Park

The neighborhood of  Manor Park located in East of downtown Ottawa, Ontario saw a total of 3 sales during the month of November 2010. This is a 67% increase for the neighborhood of Manor Park when compared to November 2009. Average days on market have gone up up 14% over last year for the Manor Park area. Homes in the residential class have been selling at an average of $636,833 when compared to Manor Park stats for November 2009 this is a 31% increase. Note that only 1 sale was made in November 2009 which explains the jump in average price.

Stats November 2010 - Lower Town

The neighborhood of  Lower Town located downtown Ottawa, Ontario saw a total of 1 sales during the month of November 2010. This is a 20% drop for the neighborhood of Lower Town when compared to November 2009. Average days on market have gone down 20% over last year for the Lower Town area. Homes in the residential class have been selling at an average of $350,000 when compared to Lower Town stats for November 2009 this is a 25% decrease.

Stats November 2010 - The Glebe

The neighborhood of The Glebe in Ottawa, Ontario saw a total of 6 sales during the month of November 2010. This is a 33 increase for the neighborhood of The Glebe when compared to November 2009. Average days on market have gone up 67% over last year for The Glebe area. Homes in the residential class have been selling at an average of $723,833.

Stats November 2010 - Ottawa East

The neighborhood of Ottawa East in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a 50% drop for the neighborhood of Ottawa East when compared to November 2009. Average days on market have gone down dramatically to 7% over last year for the Ottawa East area. Homes in the residential class have been selling at an average of $485,450 when compared to Ottawa East stats for November 209 this is a 17% increase.

Real Estate Bilbery Stats August 2010

Bilberry Creek saw a total of 3 sales in August 2010 a big decrease compared to August 2009 which saw 12 in the month. Average days on market has gone up 45% to 33 days and the average selling price of homes in Bilberry Creek has gone down slightly to $263,833.
If you are looking to buy or sale a home or condo in the Bilberry Creek neighborhood trust the services of Roch St-Georges call 613-889-7732 today!

Overbrook and Castle Heights Stats for August 2010

Oberbrook Castle Heights Homes Sold Stats

The month of August 2010 saw 5 sold listings in Overbrook and Castle Heights neighborhood of Ottawa, Ontario. Average days on market was 50 and the average selling price was $27,6800.
If you are looking to buy or sale a home or condo in Overbrook and Castle Heights neighborhoods trust the services of Roch St-Georges call 613-889-7732 today!