Ottawa's Spring Real Estate Market

Despite the snow that you still see on the ground, the Spring market is heating up in Ottawa and the surrounding areas like Stittsville, Carp and Carleton Place! You have probably started to see for sale signs popping up in your neighbourhood. In fact, in February alone there have been 914 residential sales in the Ottawa board, and that's 315 more than were sold in January.

The February sales are down from last year (1008 sales in February 2012, or 9.3%), and that can be primarily attributed to the federal government's plan to "cool down" the real estate market. The bonus is that, although the mortgage rules are still rather strict, the rates are still very low which still allows first-time buyers to begin home ownership.

Many people like to list their homes in the Spring to be a part of this booming time in the market. The problem is that many sellers wait too long. Now is the time to list! Since most properties take 30-45 days to sell - which takes us to the end of April at this point! - the longer you wait, the more difficult it will be to sell. That's not to say that your home won't sell in the Summer, but selling earlier means you can buy earlier and enjoy your Summer instead of moving in the heat!

As you can see from the graph here, historically in Ottawa you will get the best price for your home in April and May. Buyers are already looking. Talk to any full-time Realtor, and you will likely hear that they have buyers looking but there aren't many properties to show! Listing now means that you'll beat the rush next month.

Don't forget - lots of buyers with few properties available = probably more money for you!

So, get your home on the market now. Do it before the snow melts and you have to start taking care of your lawn :) Invite me into your home to chat about the current market value of your home, and let's get a plan together to sell your home and get you into something new, all in time for Summer BBQs!

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