Good morning Ottawa Real Estate!
According to the Ottawa Real Estate Board, “Units sold in the residential property class alone, excluding condos, are up four per cent year-over-year. And average sale price has increased for both the residential and condo class.” While August was bit of a slower month, sales are slightly higher than the five-year average, and continue to be on par with year-to-date sales compared to last year.”
Things are still steady in Ottawa, with no forecast of any major crashes in our near future. Freehold homes have been doing quite well, as they typically do, while on the other hand, condos continue to be somewhat slower. On a more positive note for condo owners, Genworth has forecasted that they are “expecting condo resales to improve in 2015 and continue rising for several years.” For detailed information on how specific markets in Ottawa are performing, please contact me: https://chrissteeves.ca/contact_chris/
And for anyone interested in downtown condo living, or investing, micro-condos are coming to Centretown. Yes, they’re getting smaller 
Fortunately, they appear to have been well-designed, which is refreshing change for most of Ottawa’s condo market. Here’s a rendering of this interesting project:
The Ottawa Sun wrote a short article on this project last week: http://www.ottawasun.com/2014/08/27/micro-condos-on-the-way
This one promises to be a very nice option for anyone looking for the urban lifestyle in a great location, without the higher price tag.
