home pricing

February Sales in Ottawa Strong Despite the Cold

home pricingThe month of February saw some favorable real estate activity despite a cold winter, according to a recent article I was reading.

Evidently, both new homes and resale homes saw robust sales during the last several weeks.

If you’re considering listing your home anytime soon on the Ottawa real estate market, we invite you to continue reading to learn more.

A Closer Look at Recent Ottawa Housing Market Activity

Here’s what you should know about recent market activity in Ottawa, , according to the latest report from industry analyst PMA Brethour Realty Group:

  • New home sales in February 2015 were virtually the same as they were last year.
  • There were 285 new home sales in February, compared to 283 the year before.
  • There were 551 new home sales for the year to date, which is the exact same number that sold in the first two months last year.
  • In resale homes, there were 853 sales for the month through the Multiple Listing Service, down 1.7 per cent from the 868 sold in February 2014.
  • The average sale price overall was $358,206, an increase of 1.3 per cent over February 2014.
  • Broken down, the average condo price was $267,880, an increase of 3.8 per cent.
  • And the average home price was $380,358, a decrease of 0.3 per cent.
  • The hottest segments of the market in February were those homes priced between $300,000 and $400,000.
  • Those homes priced between $200,000 and $300,000 were a close second.
  • The only area that the cold did negatively impact was housing starts.

How Can We Help With Your Next Ottawa Home Purchase or Sale?

If you want to navigate the Ottawa housing market like an expert, it’s critical that you have a good sense of recent market activity.

That’s why we work so hard to provide you with the most up-to-date information on the market.

To discuss further how recent activity may impact you as a buyer or seller, please contact us, Geoff & Bobbie McGowan, today. We would love to assist you by answering your questions and providing you with valuable real estate resources.

Until next time,