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Ottawa Market Update, October 2019 - Chantel Brownlee
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Ottawa Market Update, October 2019 Posted on: November 6th, 2019 by Chantel Brownlee Members of the Ottawa Real Estate Board sold 1,607 residential properties in October through the Board’s Multiple Listing Service® System, compared with 1,375 in October 2018, an increase of 16.9%. October’s 1,211 residential sales were up 15% from a year ago, and 396 condo sales represented an increase of 23% from October 2018. The five-year average for October unit sales is 1,319. New listings are down, inventory remains scarce, and transactions are taking place at a breakneck pace. Home buyers and sellers are often required to make swift, on-the-spot decisions. October’s average Days on Market (DOM) for residential properties decreased by 10 days to 33 days, and for condominiums, DOM decreased to 28 days from the average 47 days experienced this time last year. Year to date figures show 31 DOM (down 8 days) for resident...
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Chantel Brownlee
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