Jun
06

May 2019 Market Statistics for Condominiums in Ottawa

Have a look at the May 2019 Market Statistics for Condominiums in Ottawa.

Members of the Ottawa Real Estate Board sold 554 condominium-class properties in May 2019, an increase of 14.2% from May 2018.

Well-priced and positioned properties are turning over quickly with days on market declining 33% for the condo market from 46 days to 31 days.

Condo sales are boosting the resale market, up 14% from a year ago. This offers a great opportunity for buyers wishing to enter the market or who are ready to downsize.

The average sale price for a condo in Ottawa was $297,731, an increase of 5.8% from May 2018.*

The most prevalent price point in the condo market, which increased to the $225,000-$349,999 price range two months ago, accounts for 57% of the units sold.

Curious about May 2019 market statistics for residential class properties in Ottawa as well? Click here to read the full story.

*Average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.

Post by: Kim Pepin

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