From the blog...

Ottawa Market Update, February 2015

Posted on: March 16th, 2015 by Chris Scott

Buyers are just starting to come out of hibernation. It was a harsh winter and this extra cold weather did have an effect on resale numbers in Ottawa. Ottawa Realtors sold 868 properties  residential properties in Ottawa for February. Our 5 year average is 914. Condo sales were down 10% from the same period last year. Not bad numbers considering. 


The average sale price of residential properties including condos was $358,206. The hottest segment of the Ottawa re-sale market is between $300,000-$400,000 followed by $200,000 – $300,000. 


As I look through our monthly sales numbers one thing has caught my eye. The average days on market is way up as compared with last year. When I examine days on market(DOM) it looks like a reasonable 59 days as compared with 57 from last year at first glance. However, when you look at the combined days on market, the number is much higher. Some homes get re-listed a few times and this time on market is included with the CDOM. The number increases to a very high 106 days. Last year it was 58.  With inventory levels up and buyers a little shy to pull the trigger; houses will take longer to sell this year. All of this is very neighbourhood dependant. Sellers will need to be extra patient this year. 


The good news is that sales appear to be at steady levels and prices are holding. So far it is shaping up to be a stable 2015 housing market here in Ottawa. If you have any questions about your home feel free to get in touch! 

Screenshot Feb 2015 Stats


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