Realtors sold 1010 residential properties in February, a 11.2% increase over last year. Ottawa realtors listed 25% more inventory than January - but its still less than last year. Friends you really need to get on the market NOW - call me to discuss.
Average residential home is $417,374. Thats a 8.5% increase over last year! And average condominium is $258,397. A 4% increase over last year.
However, one of the things that makes me go hmmmm....something I have been watching for a sign that the crazy markets in Vancouver and Toronto may bring a positive spin off to our higher end here in Ottawa, I believe is occurring....
50 homes over $750,000 sold in February versus 23 last year! And year to date in 2017 there have been 67 sold versus 44 last year. Thats a 52% increase. Condos over $750,000, 7 sold versus zero! I know its a small portion of the Ottawa market, but its an interesting development and shows you we can be impacted by other markets.
55% of the entire residential market was in the $300,000 - $500,000 range. And 55% of the condo market was in the $150,000 to $250,000 range.
We are seeing multiple offers in some neighborhoods and in different types of commodities. Spring market is here, despite the winter storms. So don't hesitate to ask us what's up in your area, and with your home. We are here to help! #whoyouworkwithmatters