April Ottawa Real Estate Summary
The month of April has been monumental for the real estate industry in Ontario. New provincial real estate policies and an ongoing conversation about cooling the real estate market in Toronto are continually bringing real estate to the news. Meanwhile, here in Ottawa, the April resale market in 2017 did not break any records. Nonetheless, it continues to experience an ever-increasing trend of sales activity.
According to Rick Eisert, the President of the Ottawa Real Estate Board, “sales activity is indicating a trend towards a seller’s market. Lower inventory, combined with increased demand, is creating many more multiple offer situations and quicker moving properties, with the average cumulative days on market dipping to just 71 days.”[1] Beyond the growing sales trends in the Ottawa real estate market, the Ottawa Real Estate Board Members helped Ottawa residents rent 865 properties since January 2017.
Highlights: April Real Estate in Ottawa Summary
- 312 condominium property class sales at an average sale price of $268,553
- The sale price for a condominium property class sold this past April was 2.9% higher than April 2016.
- 1,483 residential property class sales at an average sale price of $435,883
- The sale price for a residential class property sold this past April was 7.9% higher than the average in April 2016.
- The most common price point in the residential market in Ottawa this March was between $300,000 and $399,000.
- The most common price point in the condominium market in Ottawa this March was between $150,000 and $249,999.
If you are seeking any kind of support in listing your home, purchasing a new home, or learning more about the Ottawa real estate market, please contact our team of expert Realtors® at Royal LePage Performance Realty today to learn more.
[1] http://www1.ottawarealestate.org/home/NewsInformation/LatestNewsRelease.aspx
