In a recent article in the Financial Post May 5, 2009* quoted Scotia representatives with encouraging statistics for the Canadian and Ottawa Housing Markets.
It would seem that a rise in demand and a lack of inventory is resulting in an improved market in March and continued into April; with the Ottawa Real Estate Board actually giving totals in sales for March and April 2009 in Ottawa as being above those of the same period in March and April 2008.
According to Scotia there was a 2.2 ratio of listings to sales down from the 2.7 ratio in November. A 2.0 level is considered a balanced market.
The prices have "steadied" throughout Canada according to the Post and the latest average sale in Ottawa is in fact slightly up overall (this always being offered with a caveat that it is based on the average which may not be 100 % reliable when applied to individual neighbourhoods) so asking a Century 21 Local Expert on your neighbourhood would be wise if you are considering putting your house up for sale.
As always if you or anyone you know is thinking real estate I am alway grateful for your referrals.