Every month we take a closer look at the sales data for the previous month for the top five "downtown" area's - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebretown Flats), Hintonburg, and Westboro. The information will be specific to apartment style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period which in Ottawa is almost every single transaction to be roughly 10-14 days. Questions?
CENTRETOWN
Huge jump in the average selling price for Centretown condos this year compared to September of 2017. Part of the reason for the large jump was due to a number of sales over the $500k mark. Over last month, we saw a similar number of new listings, while we saw quite a few more properties sell (33 vs 24). The list to sold price ratio stayed about the same, with the days on market increasing slightly (63 vs 51).
BYWARD MARKET AND SANDY HILL
(INCLUDES LOWERTOWN)
Compared to last month, the Byward Market saw a healthy jump in average sold price with the number of sold condo units fell over last month (16 vs 24). Other than the differences in sold price, September of 2018 is pretty much the same as last year.
LITTLE ITALY
(INCLUDING LEBRETON FLATS)
Little Italy continues to see fewer sales compared to new listings which is great if you are a buyer looking to enter. The average selling price is up over last month (362,330) and last year (329,086). Take the sold data with a grain of salt, since there is only a few sales to provide an average.
HINTONBURG
Hintonburg continues to be an area with healthy demand and very few options for buyers. Lots of older product with very few modern buildings that continue to cause havoc on the numbers. Like last month, we saw the same amount of new listings that ended up selling, providing no increase or decrease to number of available product. With that, the DOM and list to sold price continue to weaken. We are seeing first hand that nice product that is priced right will sell quick!
Westboro
Westboro continues to stay in great shape with one of the highest average selling prices. The DOM tightened up over last month, however we saw more activity which brought the other numbers more in line with what we are seeing across the city.
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