Erin Phillips | Sales Representative | Direct: 613.858.1698
Ottawa Real Estate Market Snapshot March 2016
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Number of combined Residential & Condominium sales was 1,166 Decrease of -2.8% compared to 1,200 sales in March 2015
Breakdown:
Number of residential sales was 945
o Decrease of -2.9% compared to 973 sales in March 2015
Number of condominium sales was 221
o Decrease of -2.6% compared to 227 sales in March 2015
The 5-year average for the number of March sales is 1,220
* Average sale price of all residential homes, including condominiums was $369,129 Increase of 2% compared to $361,817 in March 2015
Breakdown:
Average Sale Price of residential homes was $394,951
o * Increase of 2% compared to $387,284 in March 2015
Average Sale Price of condominiums was $258,714
o * Increase of 2.4% compared to $252,655 in March 2015
* Average Cumulative Days on Market was 88 (residential and condominium combined) Increase of 5.7% compared to 83 days on the market in March 2015
Breakdown:
o Cumulative days on Market for residential properties was 85
o Cumulative days on Market for condominium properties was 99
New Listings taken was 3,203 (residential and condominium combined)
Decrease of -5.5% compared to 3,388 new listings taken in March 2015
Breakdown:
New residential listing was 2,443 (2,631 in March 2015)
* New condominium listings was 759 (757 in March 2015)
= Inventory Absorption Rate is 6 months (6 months March 2015)
Breakdown:
Residential absorption rate is 6 months (6 months in March 2015)
Condominium absorption rate is 7 months (9 months in March 2015)
= Sales to Inventory Ratio is 16% (16% in March 2016)
A Balanced Market is 15% to 25%
Breakdown:
Residential sales to inventory ratio is 16% (Balanced Market)
Condominium sales to inventory ratio is 15% (Balanced Market)
Average Sale Price to Average List Price Ratio Combined = 97.8%
[/mp_text] [/mp_span] [/mp_row]PHONE NUMBERS:
Office Phone: 613.270.8200
Direct: 613.858.1698
erinphillips@royallepage.ca
dhostettler@royallepage.ca
shannon@erinphillips.ca
OFFICE ADDRESS:
Royal LePage Team Realty
555 Legget Drive Kanata Ontario
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This article was first published on https://www.teamrealty.ca.