Good morning Ottawa!
As you may be aware, Ottawa is the most stable and predictable real estate market of any major city in Canada, and the sales numbers for January reflect just that. Business as usual around here:
Members of the Ottawa Real Estate Board sold 589 residential properties in January through the Board’s Multiple Listing Service® system, compared with 594 in January 2013.
“The market activity is encouraging for homeowners considering the deep freeze Ottawa experienced this past month – a time when people are more apt to stay in and stay warm instead of venturing out to search for a home.”
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $346,744, an increase of one per cent over January 2013. The average sale price for a condominium-class property was $265,775, a decrease of 1.1 per cent over January 2013. The average sale price of a residential-class property was $368,779, an increase of 0.9 per cent over January 2013
As for interest rates, “Interest rates continue to be low, with some whisperings of the rates decreasing and not increasing, as had been predicted in the last half of 2013″.
What isn’t mentioned here is that inventories levels have increased. So while sales remain steady, there is increased inventory which can lead to either lower prices and/or longer days on the market.
For anyone looking for more details and info on certain neighborhoods, please contact me at 613 262 1697, or https://chrissteeves.ca/contact_chris/
Also, please contact to find out all the benefits of working with me as your agent for buying and selling property in Ottawa!