Record-breaking 2016 for Ottawa housing market

Home sales in Ottawa were up 6 per cent in 2016 compared with the previous year.

Ottawa Real Estate Board reports that the strong year ended with a year-over-year rise for sales in December, with 715 homes sold through its MLS, up 1.7 per cent from a year earlier.

“No matter what is said in the history books about 2016, it proved overall to be a great year for Ottawa real estate,” says Rick Eisert, 2017 President of the Ottawa Real Estate Board. “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.”

Overall annual sales totalled 15,537 while the average sale price for a residential class property increased 8.7 per cent to $420,750; and for a condo class property by 4.9 per cent to $262,698.

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