SPRINGTIME IN OTTAWA!

First off, let me start by saying that spring is rapidly approaching.  It’s supposed to go up to +6 next week, which for Ottawa, is essentially shorts weather 

And with spring approaching, we can expect the real estate markets to pick up again.  This time of year sees the highest number of buyers and sellers.  It’s also the time of year when prices start to climb again due to increased buyer demand.

As for sales statistics, we’re off to a good start for 2015.  And by that I mean, its business as usual.  Over the past month of February, OREB sold 853 properties, compared to February of 2014 where OREB sold 868 properties.  This number is slightly below the 5-year average number of 914 property sales (which we can possibly blame on the record cold temperatures that we experienced).

The hottest markets continue to be homes in the $300,000 to $400,000 range, with residential 2-storey homes and bungalows having the highest concentration of buyers.  This is exactly on par with what I’ve been telling buyers and investors.  The best performing markets in Ottawa will continue to be the more affordable bungalows and 2storeys.  If you’d like to know more exact details about where and what to buy, definitely contact me.

I’m also happy to say that Ottawa is set for some very cool upcoming developments, such as the new Zibi development by Windmill.  This is sure to be a very cool project mixing touristy commercial businesses and very modern, urban residential condos.  And the location is very unique, sitting on the islands in the middle of the Ottawa river just north of Lebreton Flats.  More info here:

If you read this far, I’m impressed.  For anyone with any questions on real estate and developments in Ottawa, please contact me, I’m always happy to help.  Take care, and let’s all say goodbye to winter