Alright, here’s the quick breakdown of why this past month was such a strong one for home sales in Ottawa:
– New home sales are up 36% over November of 2014. Yes, that’s a huge jump.
– Overall home sales are up 11% over Nov. 2014. They are also above the 5 year average.
– Condo sales are up 9.9% over condo sales of Nov. 2014. Looks like even the condo market is heating up 
What is the reason for this increase in sales and volume? Speculation is that it stems from a number of factors including:
– warmer fall weather
– confidence in a new government
– more government hiring after the election
– 2 new condo projects were just released: www.zibi.ca & www.greystonevillage.com
– and on top of all this, builders in Ottawa have slowed down considerably
There you have it. Ottawa’s real estate market appears to be in good shape lately. For a forecast of what’s to come in 2016, contact me for a chat about what you can expect in your neighborhood.
For more info on recent real estate stats, you can read this article:
http://ottawacitizen.com/life/homes/ottawa-home-sales-strong-in-november
As always, if you have any questions about investments, properties, or markets here in Ottawa, definitely ask me.
CHRIS STEEVES