From the blog...
Ottawa Market Stats, June 2015
Year to date sales for the first half of 2015 are up 4.9% over the same period in 2014. This is very positive news for the Ottawa real estate market. Low interest rates and a good local economy have helped sustain these levels. There is more inventory this year than in years past so Buyers do have more choice. Even so, with the increase in sales this June, our market is in a balanced position except for the condo market which remains a Buyers’ Market.
Members of the Ottawa Real Estate Board sold 1,694 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,657 in June 2014, an increase of 2.2 per cent. The five-year average for June sales is 1,664.
Properties continue to move consistently and inventory levels at the end of the month are higher than usual but still healthy and on par with May levels. Average cumulative days on market is steady at 74 days.
The average sale price of a residential-class property sold in June in the Ottawa area was $404,254. The average sale price for a condominium-class property was $271,415
The number of residential units sold in June increased in every price range from $350,000 and above, and the $300,000 to $400,000 price range continues to have the highest concentration of properties sold.
Every area is different so if you are thinking of buying or selling, I do hope you will get in touch with me. Referrals are the basis of my successful business so keep them coming! I always have time for Real Estate questions.