The Ottawa real estate market is seeing a low inventory of homes and condos. The City has seen good price growth in most urban and suburbans neighbourhoods since January. Although most homes are selling quickly with the average days on market for condos 51 days which is a 13.3% decrease from November of last year. Residential homes are also selling 10.5% quicker than November 2017. The average days on market for residential homes was 44 in November of 2018.
The most active price point continues to be the $300,000 to $499,999 price range. This price bracket accounts for 47% of all home sales in Ottawa. The $500,000 to $750,000 price bracket represents 20% of property sales.
When it comes to condo sales in Ottawa the most active price point was $175,000 to $274,999 bracket which represented close to 47% of the sales in November.
If you are thinking of buying or selling a home in Ottawa in the coming months call Roch St-Georges, real estate broker with EXIT Realty Matrix in Ottawa, ON. 613-889-7732
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