What an incredible month for the real estate market in Ottawa! The highest number of homes sold in one month EVER! 2300 homes. + 19.9% over last year's volume.
Why? So many great factors. The Ottawa economy is strong. Jobs, new business, optimism with federal government employees. Relocations from less affordable cities - people are cashing in and moving here! Investors are taking notice of our city which has less taxes now than the Toronto Horseshoe and Vancouver. Low mortgage rates, and plenty of first time buyers.
The luxury market has doubled its volume over last year - up +200%. Multiple offers, scarcity of inventory in some areas of Ottawa.
There are opportunities in the market, and it is important to have someone navigate you through it. Call myself, Cynthia or Michael and we would be happy to discuss the trends with you. I have been saying it for many months, there ARE indications of the Toronto phenomena starting here.