28 May More Great News Released on Ottawa Real Estate Market
The news just keeps getting better and better here on the Ottawa real estate market!
According to the latest report from the Ottawa Real Estate Board, the number of properties that sold during the month of April saw year-over-year increases.
And more market indicators further suggest that the housing market in Ottawa is growing in strength!
Interested in learning more about this encouraging trend? We encourage you to continue reading!
A Closer Look at Recent Ottawa Housing Market Activity
The Ottawa Real Estate Report recently released the numbers for activity in April. Here’s what they showed:
- Board members sold 1,570 properties in April, up 10.6 per cent from the 1,419 sold in April 2014.
- The five-year average for April is 1,531.
- Sales also showed growth since the beginning of the year, with 362 more properties sold this April over March.
- Of the April sales, 1,312 were classed as residential and 258 were condominiums.
- The average residential-class property sold for $403,239, up 0.9 per cent from the same month a year earlier.
- The average price for a condo was $265,371, a 2.7 per cent increase from April 2014.
- Meanwhile, the average number of cumulative days homes spent on the market in April was 74, down from 83 in March.
- And here’s another encouraging sign of the times. For the first time in months, properties priced between $300,000 and $349,999 and $350,000 and $399,999 did not account for the majority of the sales.
- The $400,000 to $450,000 range saw an increase of 37.3 per cent, while the $500,000 to $750,000 range saw a 25.4 per cent increase.
- Bungalows and two-storey homes remain the top-selling property types in the city, according to the real estate board.
We’ll Help You With the Sale of Your Ottawa Home
The above data suggests that now is a great time to enter the housing market as a home seller.
Thus, if you’ve been on the fence about whether to enter the market, we encourage you to do so now! What’s more, we’d be happy to help you at every stage of the process.
Until next time,