Home Buying

Ottawa Real Estate Market Update for November

Ottawa Home Buying 3A lot has happened lately on the Ottawa real estate market that we wanted to take a few moments to share with you.

Evidently, recent market data is showing a rise in sold residential properties in Ottawa. What’s more, home sales prices are also showing year-over-year increases.

If you’re considering entering the market anytime soon as a buyer or seller, we definitely recommend you continue reading to learn more about the current condition of the market.

Your November Update for the Ottawa Real Estate Market

Here are the highlights of the latest report from the Ottawa Real Estate Board:

  • Members of the Ottawa Real Estate Board sold 1,133 residential properties in September, compared with 1,118 in September 2013.
  • That’s an increase of 1.3 percent.
  • The five-year average for September sales is 1,103.
  • September sales included 232 in the condominium property class as well as 901 in the residential property class.
  • The average sales price for residential properties (including condos) sold in September in the Ottawa area was $356,915, up three per cent over September 2013.
  • The average sale price for a condominium-class property was $254,036, down 1.2 per cent over September 2013.
  • The average sale price of a residential-class property was $383,406, up 3.2 per cent over September 2013.
  • What’s more, Ottawa Real Estate Board members have helped clients with renting almost 2,000 units so far in 2013.

As you can see, the Ottawa housing market continues to show great signs of improvement, which is encouraging for everyone because it means that our local housing market is becoming more and more robust.

How Can We Help With Your Next Ottawa Real Estate Transaction?

Contact us, Geoff and Bobbie McGowan today to discuss your dream as a home buyer or home seller in Ottawa.

We would love to take the time to get to know you and your goals so that we can better assist you on the local housing market!

Until next time,

Bobbie