Nov 19, 2019
Similar to September 2019, the Ottawa residential property
market in October saw low inventory levels, and yet strong resale market
of the Ottawa Real Estate Board, reports that it’s perplexing at
first; however, when you consider the current breakneck transaction pace in the
Ottawa resale market, often requiring homebuyers and sellers to make swift
decisions, it makes sense.”
the month of October, 1,607 residential properties were sold, an increase of 16.9%
compared to last year. Of these sales, 1,211 were residential homes and 396
date figures show that average sales prices for residential homes increased by
8.3% and condominiums prices increased by 9.1%. According to Delahunt, these home
prices are slightly above average, which is great for homeowners as their
properties increase in equity.
also notes that approximately 36% of homes are selling over asking. These cases
are mostly affecting specific pockets of the city, but not every neighbourhood
or property type.
news release: October’s Whirlwind Resale Market.
anticipated that the real estate market will continue to grow as Ottawa
maintains its reputation of being one of the Canada’s most affordable cities
with a high quality of life
join this growing market and find your perfect home? Set up a
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