Nov
05

October 2018 Market Statistics for Condominiums in Ottawa

The October 2018 Market Statistics For Condominiums in Ottawa have Arrived!

October 2018 market statistics continue displaying trends indicative of a fast-paced real estate market for Ottawa in 2018.

Members of the Ottawa Real Estate Board sold 324 condominium-class properties in October 2018, an increase of 24.1% from October 2017.

Average Days on Market (year-to-date) for condominiums in Ottawa are down 24% from 68 to 51 days.

The average sale price for a condo in Ottawa remains reasonable and steady at $271,350, a small increase of 0.6% from this October last year. *

Between $175,000 to $274,999 was the most active price point for condos in Ottawa this month, accounting for almost 53% of the units sold.

Lack of supply remains a force in Ottawa’s real estate market, compared to last year, condo inventory is 34.5% lower than October 2017.

Curious about October 2018 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: Zev Kershman

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