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Ottawa Market Update, May 2019 - Chantel Brownlee
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Ottawa Market Update, May 2019 Posted on: June 6th, 2019 by Chantel Brownlee Despite the continuing low inventory, we have higher sales volume than this time last year. Members of the Ottawa Real Estate Board sold 2,423 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,271 in May 2018, an increase of 6.7%. Residential sales (1,869) increased 4.6% from this time last year while condo sales (554) increased 14.2% from May 2018. The five-year average for May unit sales is 2,167. Well priced and positioned properties are turning over quickly. Condo sales are bolstering the resale market, up 14% from a year ago, and provide an excellent opportunity for those wishing to enter the market or are ready to downsize. May’s figures show the average sale price for a condominium-class property was $297,731, an increase of 5.8% from last year (7.9% YTD) while the average sale price of a residential-class property was $493,691, a...
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