There are a lot of new faces in the neighbourhood! You have likely noticed how quickly homes are selling over the past little while. A number have been sold before they were even listed. We decided to do a little digging into the stats, to see how our local market has evolved in the past 3 years.
In 2016, the average sale price was $394,000, with an average of 46 days on market. So far this year, the average sale price is $479,000, with an average of 13 days on the market. That’s an increase of 40% in the average sale price of a bungalow.
2-storey, 3-storey, split levels
In 2016, the average sale price was $525,000, compared to $660,000 in 2019. That’s a 25% increase. And the average number of days on the market has dropped from 43 to 33 days since 2016.
Data provided by Ana Ideias, Coldwell Banker First Ottawa.