Sellers Market in Ottawa

By
Real Estate Agent with Keller Williams Ottawa Realty

One of the Ottawa Real Estate Questions I often get asked is tell me about the Sellers Market in Ottawa`

well here are some Spring Market statistics from the Ottawa Real Estate Board RealtorLink website

 Ottawa, April 7,2010 : Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board's Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent. Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March," said Board President Pierre de Varennes. "Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months," he added.

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

 

So if you would like to participate in this HOT SELLERS MARKET  or for any other Ottawa Real Estate Questions, please contact me at http:OttawaRealEstateQuestions.com

 

Posted by

Lara Kaplan

Comments (2)

Fred Carver Personal Real Estate Corporation
RE/MAX Camosun Victoria BC Real Estate - Victoria, BC
Accredited Real Estate Consultant

Hi Lara..Sounds like you have some great house Buys..you are half Price to Victoria. I could advertise 50% off and send the Buyers your way..Good Idea ? :O))

Apr 23, 2010 04:38 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Lara,

Ottawa is a fine city. It makes good sense that the market should be hot this Spring.

It might even make a fine retirement community.

Brian

 

Apr 24, 2010 04:16 AM