Happy September everyone!
So I’ll just start by saying that even I’m surprised to find out that there has been an 18 per cent rise in condominium sales this past August (hard to believe, I know. And let’s be honest, for a while there many of you were wondering if the condo market was going to tank worse than Detroit in 2009). This has been the second month in a row of increase on condo sales. Please note that this does not mean that Ottawa’s condo market is completely out of its slump and that all condos will sell right away for top dollar (that’s my disclaimer ;-))
This August has topped the 5 year average, with 1279 sales on record. This is a solid increase over last year’s 1200 sales. Surprisingly, things are not slowing down even after Prime Minister Stephen Harper’s election call. Sales of homes in Ottawa in August rose 6.6 percent over August of 2014. (Finally :-)) Buyers are typically reluctant around election time, however this year they don’t seem to be phased. Maybe they’ve decided that being fearful of an election isn’t going to help anything 
On the downside, average number of days on market, has risen from 78 in July to 89 in August. It’s a time for sellers to be patient. Relax and enjoy the last of the summer weather; the buyer’s will come….eventually.
In other news, I’ve switched to working with a new brokerage; Capital Homes Realty. They’re a locally founded and run, brokerage, that is doing some awesome stuff, with a young and energetic vibe. We all work as a team at Capital, to stay up to date with all real estate trends, and to provide our clients with the absolute best service. I have to say that I’m very happy to be working with a great group of people doing great work!
That’s it for now, so everyone get outside and make the most of the summer. It’s still 27 degrees and sunny, and it’s a long weekend. Call me on Tuesday, and we can talk about your next home purchase or sale in this lovely city
For all your real estate needs, contact me at www.chrissteeves.ca/contact
CHRIS STEEVES