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Ottawa Real Estate Report for June 2014

Ottawa Real EstateWhat a month it’s been here on the Ottawa real estate market!

According to a recent report, the sales of existing homes in the city grew substantially from April to May, signaling growth on the local housing market.

And that’s not the only good news that home sellers learned about the market, either!

Ottawa Canada Homes for Sale

Here’s an overview of recent activity on the market, based on the most recent data from the Ottawa Real Estate Board:

  • Sales of existing houses in Ottawa jumped 26 per cent in May from a month earlier,
  • In all, 1,792 units sold through the board’s Multiple Listing Service.
  • That figure was slightly above the five-year average for May, suggesting that the market is improving.
  • Still, it’s important to note that sales in 2014 are about 3 per cent below where they were year-to-date last year.
  • Meanwhile, condo sales dropped seven per cent compared with May 2013.
  • For the year, condo sales are down nine per cent.
  • But across the board, prices continue to be stable. For instance, the average condo closing price of $263,687 for the year is up by 0.2 per cent.
  • And the average of $392,108 for single homes is 1.3-per cent higher than last year.

Helping You List Your Ottawa Home

You can enjoy a successful experience on the Ottawa real estate market as a seller too. All it takes is a comprehensive marketing strategy and expert guidance.

So contact us, Geoff and Bobbie McGowan, your expert Ottawa REALTORS® today to learn how we can help you with your home selling efforts.

We would be happy to help you every step of the way!

Until next time,

Bobbie