How was the real estate market in Ottawa in 2014 statistically speaking?

In 2014 32,837 properties were listed on the OREB MLS. Of those 13,928 sold. That equals a listing to sale ratio of 42.4%. So if only 42 % of all homes that went up for sale on Ottawa's MLS sold was it a good year? Of course it was!! Almost 14,000 homes sold in our city last year, an increase over the year before which itself was one of the best years in Ottawa's history. What about the average sale price? The average sale price in Ottawa in 2014 was $361,000.00, a 1.2% increase over 2013. That means that if you owned a home in 2014 that you bought in 2013 you made just over $3,500.00. Now some would say that's not much money but remember that is the average. Condo owners lost a little bit last year due to a real over supply that is working it's way through our healthy resale market. Single homes? Most neighbourhoods had great increases but inside the greenbelt the % increases in high demand areas was well over 1.2%. That's a lot of extra equity! Just in case you're thinking of buying this year the projections are for a healthy year with a balanced market and a slight price increase.

Happy shopping!.

There are no comments

Thank you! Your comment has been submitted and is awaiting approval.

Mark Christie

Mark Christie

Sales Representative
CENTURY 21 Goldleaf Realty Inc., Brokerage*
Contact Me