OTTAWA REAL ESTATE – Market Watch, October 2016

Well, in true fashion to the 2016 Real Estate Market here in Ottawa, we saw yet again OUTSTANDING numbers in October!

– Since June sales have been consistently higher compared to the same month of 2015.

– Sales of Condos at last are increasing after a pretty flat period. They were up 27.2 % compared to sales in October 2015.

– We are even deeper into a Sellers’ Market with inventory that is even lower than it was in 2013

– Total sales in the Ottawa Real Estate Board for October 2016 was 1214 units (957 Residential sales and 257 Condos) which is a 4.7% increase over October 2015.

We still haven’t been able to determine the effects of the new mortgage rules, all in due time.  If you or anyone you know are contemplating making a move, let me know.

As usual, thanks to my fellow coworkers over at REMAX HALLMARK REALTY GROUP, Bill Meyer, Sylvie Begin and Dave Williams for putting together and analysing the numbers.