About Ottawa Real Estate

August Property Statistics

Temperatures Cool, but Not Ottawa’s Resale Market
September 3, 2020

Members of the Ottawa Real Estate Board sold 2,017 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,725 in August 2019, a year over year increase of 17 per cent. August’s sales included 1,576 in the residential-property class, up 22 per cent from a year ago, and 441 in the condominium-property category, an increase of 2 per cent from August 2019. The five-year average for August unit sales is 1,668.

August’s average sale price for a condominium-class property was $383,640, an increase of 24 per cent from this time last year, while the average sale price of a residential-class property was $592,548, an increase of 22 per cent from a year ago. With year to date average sale prices at $566,291 for residential and $357,779 for condominiums, these values represent a 17 per cent and 19 percent increase over 2019, respectively.*

“This is an extremely challenging market for many, especially those on the buying side. Many are experiencing what we call ‘buyer burnout’, having placed many offers without success. We perceive a change in buyers behaviour regarding expectations, that were perhaps, until recently ‘hyped’, or a product of watching a myriad of home improvement shows and/or visiting new builder model homes. Our current reality is perhaps making some buyers more pragmatic and compromising on what they accept, whether it’s a home’s condition, age, or location,” Burgoyne suggests.

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2,017

Properties Sold

17%

Increase in Homes Sold

$592,548

Average sale price (residential)

$383,640

Average sale price (condos)

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Craig has gone above and beyond my expectations. From the very first conversation, Craig was intuitive, caring, and patient. He was honest and upfront about everything. Anything he didn't know/wasn't aware of, he was willing to admit, find out and got back to me very promptly. I couldn't have asked for a better Realtor and very grateful for everything Craig has done for me.

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We were looking for a rural home and had Craig drive us around the Ottawa Valley for a few months, usually taking up all hours of the evening. He was incredibly patient, kind and honest when it was needed. Our time with Craig was enjoyable, and when it came time to get down to business he was incredibly professional, answered all questions we had (we had a lot as first time home buyers). Because of Craig's advice, we were able to land our first dream home. I truly believe that if we didn't listen to Craig we may not be in the house we are in now. I will thank him forever for that. Thank you for being assertive and knowledgeable. I would absolutely recommend Craig to anyone purchasing a home.