REAL ESTATE BROKER

Ottawa home sales surpass $500K average price for first time: OREB


Ottawa’s housing market passed a symbolic milestone in June, as the average sale price of a home in the capital surpassed $500,000 for the first time ever.

Residential-class properties sold at an average of $500,716 last month according to the Ottawa Real Estate Board, an increase of 11.6 per cent year-over-year. Condo sales were up 6.2 per cent to an average $308,482.

 

OREB president Dwight Delahunt said in a statement that competition for homes is “brisk” in Ottawa, a trend he expects to continue with Ottawa’s strong employment and growing population – now past the one-million mark.

Members of the OREB sold a total of 2,105 properties in June, up two per cent year-over-year. Residential-class sales totalled 1,612 – on par with 2018 figures – while 493 condos traded hands last month, an increase of 8.8 per cent from last year. Delahunt said condo sales have been driving market activity in the first half of 2019.

Properties in the $350,000-$499,999 price range accounted for 43 per cent of residential sales in Ottawa last month, with 29 per cent falling in the $500,000-$749,999 range. Some 55 per cent of condo units sold in the $225,000-$349,999 range in June.



RE/MAX Agents Continue to Outsell


A Slow March into Spring Market for Ottawa Real Estate

RE/MAX Agents Continue to Outsell
Competitors by More than 2:1 in National Survey


For the ninth consecutive year, the 2019 REAL Trends 500 survey—one of the most widely followed reports in the real estate industry—showed RE/MAX agents at participating brokerages outsold competing agents on average by more than 2-to-1*, averaging 16.3 transaction sides, compared to an average of 7.1 for agents from all other participating large brokerages.
 
In an industry where world-class customer service matters, RE/MAX agents continue to deliver. As part of a network of 125,000 agents in more than 110 countries and territories, RE/MAX brokerages that qualified for the REAL Trends 500 report embrace innovative tools, training and technology to stand out from the competition. When home buyers or sellers choose a RE/MAX agent, they’re choosing a professional with real experience to help them through one of the biggest financial decisions of their lives.
 
Now in its 32nd year, the REAL Trends 500 ranks the performance of top residential brokerage firms in the country based on transaction sides and sales volume for the previous year. Firms needed to close a minimum of 500 transaction sides in 2018 to qualify for the 2019 REAL Trends survey.

Highlights from the 2019 REAL Trends survey include:

  • RE/MAX agents outsold the competition in 2018 by 2:1—among national franchise brands, large RE/MAX brokerages had the highest per-agent home sales in 2018.
  • When all participating brokerages are ranked by average sides per agent, RE/MAX brokerages claim 87 of the top 100 placings. RE/MAX agents in those brokerages averaged 29 transaction sides last year
  • The RE/MAX per-agent average of 16.3 transaction sides more than doubled the average of 7.1 for all other agents included in the survey. 
  • More RE/MAX brokerages qualified for the survey than any other real estate brand with 559—almost one-third of all brokerages included in the survey. The closest competitor qualified with 416.

Every year for nearly a decade, the REAL Trends 500 has confirmed our 2-to-1 advantage in per-agent productivity. The results really say a lot about the quality of RE/MAX agents, the strength of RE/MAX brokerages and the incredible value RE/MAX professionals deliver each and every day.