Will the Ottawa real estate market ever slow down? Not anytime soon, according to the latest record home sales generated in June. What stood out from these record home sales were the following factors:

Record Sales in the Condo Market

• 408 condo units were sold compared to 331 units in June 2016, a 23.3 per cent increase.

• Most of the sales were in $150,000 and $249,999 price range, accounting for 50.8 per cent of the market.

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

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

Record Sales in the Residential Market

• 1,754 residential units were sold compared to 1,654 units in May 2016, a 6 per cent increase.

• Most of the sales were in residential properties in the $300,000 to $399,999 price range, which combined accounted for 35.1 per cent of the market.

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

• Most of the buyers purchased:
  • 2-and 3-storey homes
  • Bungalows
  • Hi-Ranch homes
  • Split-level homes

Record Sales in Lifestyle Luxury Homes

• 80 units were sold compared to 61 units in June 2016 in the $750,000 - $999,999 price range, a 31.1 per cent increase.

• 40 units were sold compared to 17 units in June 2016 priced over $1,000,000, a 135.3 per cent increase.

Continuous Price Increases For Single-Family Homes 

• Homeowners in the southern and western sections of Ottawa continue to benefit financially from the significant increases in the market value of their homes. The neighbourhoods that benefitted from this financial gain include:

1. Hunt Club/Windsor Park – 26.9 per cent increase (average price: $461,500)
2. Mooney’s Bay/Carleton Square – 16.7 per cent (average price: $474,100)
3. Billings Bridge/Riverside - 16.5 per cent (average price: $455,000)
4. Woodroffe – 14.9 per cent (average price: $421,700)
5. McKellar Heights – 14.4 per cent (average price: $548,100)
6. Country Place/Pineglen/Crestview – 13.7 per cent (average price: $632,800)
7. Hintonburg/West Centretown - 13 per cent (average price: $483,200)
8. Carlingwood/Westboro – 11.7 per cent (average price: $735,600)
9. Dow's Lake/Civic Hospital – 11.4 per cent (average price: $662,100)
10. Parkway Park/Queensway – 11.2 per cent (average price: $393,800)

Real Estate Tip: If you need to quickly calculate your closing costs for buying and/or selling your home, property taxes, mortgage payments, or to find out which type of mortgage can save you money, you can use this convenient, easy-to-use tool called the Canadian Mortgage App on your mobile phone or tablet. Here is the link to download the app: Canadian Mortgage App