The Ottawa real estate market continues with record home sales for the month of August. This positive news is driven by the following factors:

 Record Condo Sales in the Resale Market

• Similar to July, the condo market continued to dominate the resale market where 359 condo units were sold compared to 294 units in August 2016, a 22.1 per cent increase.

• The majority of the sales were in the $150,000 and $249,999 price range, accounting for 49.5 per cent of the market.

• In terms of days on the market, condo listings were sold 10 per cent faster compared to 2016.

• Two-storey and one-level homes, and bungalows continued to be the most sold units.

• Most of the condos were sold in the following districts:
  • Stittsville
  • Kanata
  • Nepean
  • Central Ottawa
  • Orleans

 Increased Sales in Lifestyle Luxury Homes

• 59 units were sold compared to 38 units in August 2016 in the $750,000 - $999,999 price range, a 55.3 per cent increase.

 Price Increases For Single-Family Homes 

• Similar in July, homeowners owning single-family homes located in Ottawa South and west of Ottawa continued to experience significant price increases in the resale value of their homes. These neighbourhoods are:

1. Hunt Club/Windsor Park – 20 per cent increase (average price: $456,600)
2. Hintonburg/West Centretown - 17.5 per cent (average price: $492,400)
3. Mooney’s Bay/Carleton Square – 17.3 per cent (average price: $478,900)
4. Woodroffe – 15.4 per cent (average price: $426,200)
5. Billings Bridge/Riverside - 14.6 per cent (average price: $458,700)
6. Belair Park/Copeland Park - 12.1 per cent (average price: $437,100)
7. Country Place/Pineglen/Crestview – 12.1 per cent (average price: $646,100)
8. McKellar Heights – 11.7 per cent (average price: $558,800)
9. Manotick/Kars/Rideau Township – 11.7 per cent (average price: $508,200)
10. Britannia/Lincoln Heights – 11.5 per cent (average price: $415,400)

Real Estate Tip: To take advantage of the tax dollars working for you, there are various federal, provincial and municipal government grant and rebate programs available for buying a home and making improvements to your home. You can read more about these financial incentive programs at: http://showmethegreen.ca/