March 2015 property sales surpass February’s at a 41.8% increase, with an overall sale increase of 356 properties. Just as predicted in early February, a fast approaching spring market shows promise. Included in March sales are 980 residential class properties, and 228 condominium class properties, noting that any which style of property registered as a condominium falls under the condominium category. A great insight to what lies ahead in the midst of spring.
Properties are moving quickly in and out of market. January’s cumulative days on market averaged at 119, while March has pulled forward with an average of only 83 days. Ottawa’s resale market price has increased by 0.8% from first quarter 2014, and the amount of sales has increased by 1.8%.
Interestingly, the average sales price of property sold in Ottawa, March 2015 as whole was $361,572, $387,141 for residential class, and $251,666 for condominium class. The most popular style of property continues to be a two-story residential home, followed by one-level condos and bungalows.
Anticipation builds as we begin the next quarter, in hopes of a fully successful spring Market. For more information on buying or selling a home, finding an agent, or listings, contact Royal LePage Performance Realty.
All stats retracted from OREA at http://www1.ottawarealestate.org/home/NewsInformation/LatestNewsRelease.aspx