From the blog...
OTTAWA MARKET UPDATE FOR JULY 2018
It was another robust month of sales in Ottawa real estate. Over 1600 properties changed hands. That is a big number considering the 5-year trend is at about an average of 1500 units sold in July. Sales are up 6% compared to last year same time. Residential prices are up 5% over July of last year in both the condo and residential property markets. Nice gains for Ottawa homeowners for sure. Here is look at the numbers:
The 300k to 450k price range in residential properties accounted for 45% of all sales. This is a very active price range right now for Ottawa real estate. So hot right now! The condo market has made a great comeback and there are lots of factors to remain bullish on our local economy. It is a complex real estate market right now. Lots of moving parts on almost every deal. Including new financing requirements, shorter conditional periods, foreign buyers, and multiple offers. Lots to navigate right now. It is more important now to have the expertise of a great Realtor if you plan on buying or selling real estate in Ottawa.
If you are curious to know what’s happening in your neighbourhood please feel free to get in touch.
Tags: Average Ottawa Home Prices, bidding war, Buying in Ottawa, condos, Ottawa Home Prices, Ottawa Housing Market, Ottawa Market Stats, Ottawa MLS Sales, Ottawa Real Estate, Ottawa Realtor, Selling in Ottawa, shortage