From the blog...


Posted on: June 6th, 2017 by Chris Scott


It was raining sales in the Ottawa real estate market last month. Amid one of the rainiest months ever,  we also experienced the busiest real estate market in Ottawa history.  We absolutely shattered the previous record by over 315 units. The Ottawa residential market has been hot for a while now but the condo market is also coming alive which is leading to this extremely active market. Condos sales activity is up 44.6% over May of last year. In total 2300 units were sold last month! That is up from 1919 units sold in May of 2016. This includes both condos and residential freeholds.

In most neighbourhoods, Ottawa is in a seller’s market. There is just not much inventory and lots of demand. Multiple offer situations are very prevalent in the central neighbourhoods. Freehold prices are up 7.4% over May of 2016 while Condo’s are up 2.4% over May of last year.

Now more than ever it is important to get the advice of an agent. Pricing/marketing strategies are different for every neighbourhood. If you are interested to see what your home would sell for in this market please feel free to get in touch.

If you are curious about your homes worth please fill in this form for a no-obligation market assessment.

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