24 Nov Ottawa Home Sales Are Down but Home Prices Up
Greetings from your friends on the Ottawa real estate market!
We just wanted to take a few minutes to update you on the current state of the housing market in case you’re planning on entering anytime soon as a buyer or seller.
According to the most recent report, even though home sales are down, those home sellers who are reaching closing are raking in great profits. Continue reading to learn more.
An Overview of the Current State of the Ottawa Real Estate Market
Here are the highlights of the most recent report I read from the Ottawa Sun, based on data from the Ottawa Real Estate Board:
- In September, 5,139 units were sold, down from 7,172 in August.
- Still, the average sale price of residential properties was $356,915, up 3 percent compared to the same time last year.
- Those homes priced between the $400,000 to $500,000 range are evidently having the hardest time finding prospective buyers.
- Meanwhile, homes priced between $299,000 and $399,000 are seeing an increase in demand and sales
- And according to the latest data available, the average price for a 500-square-foot downtown condo is about $275,000, while smaller condos are being advertised for about $179,000.
We Can Help You Sell Your Ottawa Home
As you can see, there are some great profits to be made on the real estate market in Ottawa, but only if you’re able to successfully market your home to the right buyers.
That’s where we come in. As your dedicated Ottawa real estate experts, we will work hard to advertise your home to the right home buyers so that you can get an excellent price for your home.
Until next time,