Ottawa still continues its tremendous momentum streak in record home sales for the month of May. This achievement was attributed to the following factors:

 Record Sales in the Condo Market

• 444 condo units were sold compared to 1,612 units in May 2016, a 15 per cent increase.

• Most of the sales were in $150,000 and $249,999 price range, accounting for 50.7 per cent of the market.

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

• Most of the buyers purchased 2-storey homes and bungalows.

 Record Sales in the Residential Market

• 1,856 residential units were sold compared to 307 units in May 2016, a 45 per cent increase.

• Most of the sales were in residential properties in the $300,000 to $399,999 price range followed by the $400,000 to $499,999, which combined accounted for 56 per cent of the market.

• Most of the sales were sold in the following district areas: 
  • Morrisburg/Winchester
  • Hawkesbury/Casselman/Rockland
  • Metcalfe
  • Stittsville 
  • Carp
  • Kanata
  • Nepean
  • Central Ottawa
  • Orleans

• Most of the buyers purchased:
  • 1 1/2-storey, 2-storey and 3-storey homes
  • Bungalows
  • Duplexes
  • Mobile homes

Record Sales in Luxury Homes

• 83 units were sold compared to 53 units in May 2016 in the $750,000 - $999,999 price range, a 57 per cent increase.

• 38 units were sold compared to 20 units in May 2016 priced over $1,000,000, a 90 per cent increase.

• Most of the sales were sold in Rockcliffe Park.

Significant Price Gains For Single-Family Homes 

• Homeowners in the southern and western sections of Ottawa received significant increases in the market value of their homes. These neighbourhoods include:

• Hunt Club/Windsor Park – 19.8 per cent increase (average price: $448,900)
• Billings Bridge/Riverside - 15 per cent (average price: $450,400)
• Mooney’s Bay/Carleton Square – 13.4 per cent (average price: $461,600)
• Country Place/Pineglen/Crestview – 11.6 per cent (average price: $617,700)
• Woodroffe – 11.4 per cent (average price: $411,700)
• Ottawa West/Tunney’s Pasture – 10.6 per cent (average price: $619,300)
• Westboro/Hampton Park – 10.2 per cent (average price: $578,400)
• Meadowlands/Crestview – 10.1 per cent (average price: $455,500)
• Qualicum/Bruce Farm – 9.8 per cent (average price: $536,800)
• Belair Park/Copeland Park - 9.8 per cent (average price: $419,800)

Real Estate Tip: Whether you are looking for a new mortgage to purchase your new home, or renewing an existing one to keep staying in your current home, the lowest mortgage rate is not an important factor to consider in choosing a mortgage. There are other important features that you need to consider in choosing a mortgage that offers you convenience, flexibility and a peace of mind. Before choosing a mortgage, it is important to read this information guide to help you choose the right mortgage that meets your personal and financial needs: The ultimate mortgage checklist: 63 steps to negotiating the best deal