Members of the Ottawa Real Estate Board sold 30 residential properties in December through the Board's Multiple Listing Service® System, compared with 26 in December 2014, an increase of 15.4 per cent. The five-year average for December sales is 25. The total number of residential and condo units sold through the Board's MLS® System throughout all of 2015 was 588, compared with 525 in 2014, an increase of 12 per cent.
Increased inventory levels contributed to the market favouring Buyers for much of the year; however as the inventory levelled out in the fall, we moved into more balanced conditions. Cumulative days on market increased to 87 days in December, while the average for the year comes in at 71 days. Average residential sale prices are up slightly over last year, which is great for the Stittsville market. All combined, these indicators point to a stable real estate market.
For average sale prices of your neighbourhood, click here. 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.
A trend all year long, the hottest segments of our market are properties sold in the $300,000 to $400,000 price range, with 29.6 per cent of the year's sales, followed by the $400,000 to $500,000 range, with 27.7 per cent of the year's sales. For monthly updates on your neighbourhood, visit My Neighbourhood Updates to sign up today!