Ottawa real estate monthly report month of May, 2018
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The number of sold properties in Ottawa in April 2018,416 condominiums and 1,616 residential properties,
the total of 2,032 compared with 1,788 in April 2017 an increase of 13.6%.
The average sale price for condominium-class property was $269,294 an increase of 0.3% from April 2017.
The average sale price for residential-class property was $455,212 an increase of 4.2% from April 2017.
Ottawa is now a seller’s market for the first time in 16 years. Houses in range of $300,000 and $449,000 are in a high demand. also inventory is so lower than the demand. On the other hand the mortgage stress test has not affected on the market so much , and housing affordability is still within reach.
"But across the country right now is the exact opposite story. According to the Canadian Real Estate Association,
home sales were down nationally by 22.7%. Toronto and Vancouver had the largest declines in sales, with 40.2% and 29.8% respectively.
On the flip side, Montreal was up 6.4% and Ottawa, taking the top spot at 10.2%."
Our role in this exciting new Ottawa Community is to act as your trusted Real Estate Advisors helping you protect property values and enhance the quality of life. Call us anytime, it is never too early or too late to speak to us. We look forward to your call.
We are able to determine the market growth in every neighbourhood in Ottawa, So if you are interested to know about real estate trends in any areas in Ottawa, please contact us
Feedback:
The number of sold properties in Ottawa in April 2018,416 condominiums and 1,616 residential properties,
the total of 2,032 compared with 1,788 in April 2017 an increase of 13.6%.
The average sale price for condominium-class property was $269,294 an increase of 0.3% from April 2017.
The average sale price for residential-class property was $455,212 an increase of 4.2% from April 2017.
Where is the current Ottawa Real Estate Market?
Ottawa is now a seller’s market for the first time in 16 years. Houses in range of $300,000 and $449,000 are in a high demand. also inventory is so lower than the demand. On the other hand the mortgage stress test has not affected on the market so much , and housing affordability is still within reach.
"But across the country right now is the exact opposite story. According to the Canadian Real Estate Association,
home sales were down nationally by 22.7%. Toronto and Vancouver had the largest declines in sales, with 40.2% and 29.8% respectively.
On the flip side, Montreal was up 6.4% and Ottawa, taking the top spot at 10.2%."
Our role in this exciting new Ottawa Community is to act as your trusted Real Estate Advisors helping you protect property values and enhance the quality of life. Call us anytime, it is never too early or too late to speak to us. We look forward to your call.
We are able to determine the market growth in every neighbourhood in Ottawa, So if you are interested to know about real estate trends in any areas in Ottawa, please contact us
Feedback:
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