Ottawa Real Estate Market Sees Improvement in New Home Sales
Last updated on May 11th, 2021 at 01:11 pm
Evidently the sales of these new homes have increased, signaling increased home buyer interest in the Ottawa area.
This is not only a good thing for home builders but also current home sellers. After all, as the new home market heats up, it will help drive up prices on the existing home market.
What You Should Know About Ottawa’s New Home Market
Here’s the latest data on the current state of the new home market in Ottawa, according to the most recent report from industry analyst PMA Brethour Realty Group:
- Sales in May were up 8.1 per cent from May 2013, albeit they were not different from the month of April.
- Meanwhile, year-to-date, sales had increased 2.6 per cent for the year to date over the same period last year
- There were 446 sales reported in May, with a total of 1,789 new homes sold for the year so far.
- While this is an improvement year-over-year, it is still well off the 10-year average for the year to date, which is 2,122.
- Single-family homes comprised nearly half of the May sales, followed by freehold townhomes.
- Condos (which includes apartment and towns) came in third with just 17 per cent of the market.
- Minto had the most homes sold with just over 32 per cent of market share, followed by Tamarack and then Mattamy.
How Can We Help You Sell Your Ottawa Home?
We would be happy to discuss with you how you can maximize your profit on the Ottawa real estate market by harnessing recent market activity as well as useful resources.
Until next time,