A great article in the Ottawa Citizen about the Ottawa housing market! October was another record breaker. Double digit increases in value over last year!!! WOW!!! It's a Seller's market all the way. If you're thinking of Selling, let's get your home on the market. List your home with a Realtor that has internet presence and can drive traffic to your property's OWN WEBSITE! Thinking outside the box is what makes me stand alone. The Realtor of the 21st Century understands social networking and the importance of the internet. Call me today for a FREE MARKET EVALUATION. If you're looking to buy, don't wait! The home buying tax credits end soon. Housing prices are going up not down, so the sooner you buy, the sooner you start reaping the rewards of home ownership. Don't know what you can afford? Call me and I'll hook you up with a great mortgage broker that can help!
Read on to see happened in the Ottawa Real Estate Board in October!
Ottawa housing market is hot
A total of 1,202 units changed hands in a record for the month, led by strong demand for condominium apartments, bungalows and two-story singles,
Average housing prices for all classes of houses were $318,655, a 13.6 per cent increase over a year earlier when sales and prices were under pressure as the global economic crisis hit.
For the first 10 months of the year, sales of resale units are running 4.2 per cent ahead of a year earlier and average prices of $303,031 are 4.4 per cent higher.
Ottawa Real Estate Board President Rick Snell said that low mortgage interest rates are driving the action.
"Listing inventory remains at a low level, and combined with brisk sales, indicates we are still in a strong sellers market here in the capital."
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