Real Estate Report for Ottawa Dec 2016

The year 2016 ended on a positive note.  The average price of homes sold ($420,750) increased 8.7% over December 15 and condos sold for (262,698), 4.9% over the same period.  Condo sales have been lacklustre in the past few years, so this was great news for condo owners. Also increasing in December was the number of houses and condos sold and the average price too.  As well as properties are selling, they are taking longer to sell.  Homes averaged 119 days on market and condos 137 days.  The average price of homes sold throughout 2016 increased 1.5%  over 2015 and condo prices increased 0.4% overall.  The market is balanced, all statistics are in a positive mode,