From the blog...

Ottawa Market Update for September 2012

Posted on: October 4th, 2012 by Chris Scott

According to the Ottawa Real Estate Board, September sales are historically on track in Ottawa.  The market here has not experienced volatility in prices or number of units sold.  Since 1956, the average price in the Ottawa area has decreased only five times (year over year) and has increased by 15% or more only five times as well.  Our market can be characterised as stable and steady.  This is a good thing!

It is possible that the new mortgage rules and continuing uncertainty about job losses in the public sector may have contributed to recent decreases in the number of units sold in the Ottawa market.  The number of sales through the MLS® System in September, 2012 was 993 units, down from a near record high in September, 2011 of 1,201 units.  The average price, however, was still up year over year at $351,585, an increase of 4.7% over September, 2011.

If you are curious to know what your home might be worth on today’s market – or what your neighbour’s house is selling for…do give me a call.  I can always make time for clients – new or past.


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