Ottawa Market Hits New Record In 2016

In the month of December, it was reported by Ottawa Real Estate Board that the year ended off with strong sales of homes in Ottawa, which experienced an increase of 6 percent in 2016, unlike the previous year. MLS sold 715 homes in that period, with an increase of 1.7 percent compared to 2015.

Rick Eisert, the 2017 President of the Ottawa Real Estate Board said; “No matter what is said in the history books about 2016, it proved overall to be a great year for Ottawa real estate. While prices remained fairly flat over the course of the year, the unit sales recorded in five separate months were the highest on record, including December.”

In total, the annual sales amounted to 15,537 with residential class property’s average sale figure inclined by 8.7 percent to $420,750. For condo class property, they saw an increase of 4.9 per cent to $262,698.