Stittsville remains steady in September

Members of the Ottawa Real Estate Board sold 29 residential properties in September through the Board's Multiple Listing Service® System, compared with 27 in September 2014, an increase of 7.41 per cent. The five-year average for September sales is 31.

"Ottawa Real Estate Board members continued their active summer into a busy fall," says David Oikle, President of the Ottawa Real Estate Board. In fact this September marks the best September on record for the number of units sold in the Ottawa resale market. There are 172 homes currently for sale in the Stittsville area, should there be no new listings, it would take 5.9 months to clear out the inventory on the market.

Inventory levels continued to increase; keeping the Stittsville resale market in a buyers territory. Cumulative days on market decreased drastically to 34 days, down from 57 days in August. In addition, the average sale price remains steady.

The average sale price of a residential-class property sold in September in the Stittsville area was $396,393, a decrease of 2.40 per cent over September 2014. 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.


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