Once again, the Ottawa real estate market achieved record-breaking sales in the resale market in December 2016. There were a total of 715 residential and condo properties sold, a 1.7-per-cent increase where 703 properties were sold during the same month in 2015. Here are the highlights of the market’s performance in December:

● The majority of the sales were from homes sold for more than $500,000.

● The highest average sale price increases for residential properties were in:
– two-storey homes at $454,392 (up by 13%);
– bungalow homes at $378,191 (up by 11.2%); and
– duplex homes at $558,483 (up by 29.6%).

● The highest average sale price increase with the increased number of units sold for condos were in:
– one-level homes at $299,159 (up by 8.7%) with 88 homes sold (up by 23.9%)

● For residential properties, 1 1/2 storey homes had an increased number of units sold at 29 (up by 93.3%) at an average sale price of $278,612 (down by 1.2%).

You can read more about this market update here.

Stay tuned for my next article where I will provide a year-in-review of the 2016 Ottawa real estate market, and explain the factors that contributed to the market’s record-breaking year.