Housing numbers still red hot, and a new major restaurant coming to CP!

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 % +/-
Carleton Place 25 9 177.8
Beckwith 20 12 66.8
Almonte 12 11 18.2

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)
Carleton Place 169 96 +76.0% $291,564 $273,271 +6.7% 6
Beckwith 103 74 +39.2% $353,205 $393,090 -10.1% 8
Almonte 68 50 +36.0% $387,768 $313,675 -8.3% 7

Thinking about moving? Click here for your free, no obligation, home evaluation!

 

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

Blog Archives

Tags