From the blog...
Ottawa Housing Market – January 2015
The Ottawa housing market in January was reasonably brisk compared with sales numbers from one year ago.
Realtors in Ottawa sold 627 residential properties in January through the Multiple Listing Service® system, compared with 587 in January, 2014 – an increase of 6.8%. The 5-year average for January sales is 633. Essentially we are right on track for another year of steady sales.
The change in Ottawa’s housing market comes in the form of inventory. There are lots of choices for Ottawa home Buyers! The number of residential and condo properties listed in January (2,018) more than doubled the amount of newly listed properties from December. Many sellers this year are trying to get ahead of what might be a crowded spring listing season. Buyers will continue to have some good inventory to choose from.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $348,617, an increase of 0.5% over January 2014. The average condo property was $250,406, down 5.7% over January 2014. The average residential class property was $370,442, an increase of 0.5% over January 2014. Condos continue lag behind price gains on the residential side. This could be a challenging year again for condominium sellers.
The high amount of inventory and the record low interest rates will provide even more opportunity for Ottawa homebuyers. Our real estate market here in Ottawa remains stable, and the year ahead looks promising.
Every neighbourhood is different. If you are interested in knowing the value of your property – or maybe even the property down the street – give me a call. I’m always happy to help when it comes to real estate.
Chris