Home Selling

Ottawa Real Estate Activity is On the Rise!

Ottawa Home Selling 2Great news for anyone thinking about entering the real estate market anytime soon as an Ottawa home seller: Residential sales activity is on the rise!

That’s according to a recent report released by the Ottawa real estate board.

Evidently, residential sales in June noticeably increased as did other market indicators to suggest that the market is becoming more robust. Continue reading to discover more about these latest real estate trends.

Home Sellers Encouraged by the Latest Ottawa Sales Activity

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

  • Residential sales in June were up 4.3 percent compared with the same month a year earlier
  • Ottawa Real Estate Board members sold 1,661 residential properties last month, up from 1,593 in June 2013.
  • This year’s number is also above the five-year average of 1,636.
  • The Ottawa market is also doing well in comparison to the first six months of 2013
  • Year-to-date units sold are now only slightly off (by about 106 units). And the average sale price has increased 1.5 per cent when compared to a year ago.
  • Last month, 1,345 residential properties and 316 condominium properties were sold.
  • The average sale price of all of these properties increased 1.4 per cent compared with a year ago, at $364,264.
  • Broken down, condominium prices were down 2.8 percent at $258,135. Meanwhile, residential properties were up 1.8 per cent at $389,198.
  • Available inventory is up 13 per cent, although experts say that that is typical for an active spring market.

We’ll Help You Navigate the Market to Your Advantage

As you can see, it’s definitely a great time to be a home seller, with plenty of promise that you’re going to be able to get the price you want for your Ottawa home for sale – and in a fairly short amount of time as well.

But it takes working with an experienced real estate agent to really harness the powers of the market in your favor. So contact us, Geoff and Bobbie McGowan, today to discover how we can help you with all of your home selling needs.

Until next time,

Bobbie