Why Bidding Wars in Ottawa – March 2018 Sales Stats for Ottawa – how do we compare to last year?

Why Bidding Wars in Ottawa – March 2018 Sales Stats for Ottawa – how do we compare to last year?

2018 Ottawa Real Estate Average Sales price for 2018 versus 2018 - residential

 

As you can see from the above chart the residential or freehold sales are up significantly price wise over last year – this is somewhat due to the shortage of listings.  If you look at the graph above the red bars are 2018, and the grey 2017.  The change is significant and has resulted in a multitude of bidding wars on properties and sales prices often over the asking price.  As the number of listing has been lower and the number of sales higher this is forcing up the prices in many locations. The time properties are taking to sell is also shorter.

Click the link below to view the complete stats for the month of March – prepared by Royal Lepage Performance Realty.  Or scroll down and click on the individual composite graphs to view.

MLS Stats- 2018-03 March Ottawa Real Estate Stats – PDF

You can also take a look at our review of List-To-Sale Prices, and our Ottawa Real Estate Market Report for March 2018 infographic.

Condos have also seen an uptick in sale prices over last year for February and March and a shortening of the selling time.  Similarly the number of listings available for sale is lower than 2017.

Ottawa Sales to Inventory Ratio shows that we’ve just now moved from a balanced market to a sellers market as we moved into march in both the freehold and condominium market and very much into sellers market in the freehold.

 

Ottawa Sales

 

 

 

 

 

Ottawa Unit Sales

Ottawa Real Estate Unit Sales as of March 2018

Ottawa Listing Inventory

Ottawa Listing Inventory

 

 

 

 

 

For extra details and more charts click the link below.

MLS Stats- 2018-03 March-compact

In that document you’ll find graphs for

Ottawa Residential Unit Sales
Ottawa Condominium Unit Sales
Ottawa Residential Sale Price
Ottawa Condominium Sale Price
Ottawa Residential Selling Time
Ottawa Condominium Selling Time
Ottawa Residential Listing Inventory
Ottawa Condominium Listing Inventory
Ottawa Residential Listings Taken
Ottawa Condominium Listings Taken
Ottawa Sales to Inventory Ratio
Ottawa Unit Sales
Ottawa Average Sale Price
Ottawa Listing Inventory
Ottawa Listings Taken

 

 

Check out more articles in the with similar categories – Article, Board Sales, Ottawa Real Estate Market