From the blog...

Ottawa Market Update, April 2014

Posted on: May 5th, 2014 by Chris Scott

Members of the Ottawa Real Estate Board sold 1,420 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,569 in April 2013, a decrease of 9.5 per cent.  With a late spring in terms of weather, it isn’t unexpected to see the market have a later upswing than normal.

That being said, properties sold in April were on the market an average of 45 days, a few days less than what was indicated in March.  In addition, 233 more properties changed hands in April than was the case in March so there has been a continued steady pace upwards since year-beginning.

Average sale prices are on par with prices from a year ago, even year-to-date price comparisons remain steady.  The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $374,015, an increase of 0.8 per cent over April 2013. The average sale price for a condominium-class property was $258,500, a decrease of three per cent over April 2013. The average sale price of a residential-class property was $399,541, an increase of 0.9 per cent over April 2013.

Every area, however, shows different trends.  If you are interested in knowing the value of your property, please give me a call.


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