The month of July was no different than the month before, all western suburbs were posting positive sales increases over last year. Sales prices are having a tough time rising to above last years numbers, I believe a large factor for that is the amount of inventory available for buyers. The chart below will show you 2015 sales numbers compared to 2016.
|Area||July 2016||July 2015||% +/-|
With inventory levels still high and a large new construction subdivision about to start, it's tough to imagine this ride continuing. With months of inventory heading into being a buyers market, we may see prices drop even further.
|Area||2016 Sales||2015 Sales||% +/-||2016 AVG $||2015 AVG $||% +/-||Inventory(Months)|
New Development - Cardel Homes
As mentioned in my previous post, it is expected for construction to begin this fall in the Miller's Crossing neighbourhood. Stay tuned for more information on that.
New Restaurant - McDonalds
The seemingly controversial build of McDonald's is well on it's way. With an anticipated opening date in early November, that'll be a major workplace for many local teens and adults. Don't be surprised if the grand opening is delayed.
Source of stats: Ottawa Real Estate Board