Now is a great time to be actively for sale in Ottawa!
The spring weather has unleashed the spring market for resale homes across the region. In the month of May, according to the Ottawa Real Estate Board statistics, we have enjoyed a significant increase in the number of sales both Residential and Condiminium over the month of April along with a slight increase to the average sale price. What's more interesting, if you are considering a move in the near future, is that the number of new listings were down by almost 4% from May of 2015. This could lead Ottawa's resale market into more of a Seller's market. Read further details below:
Members of the Ottawa Real Estate Board sold 1,921 residential properties in May through the Board’s Multiple Listing Service® system, compared with similar sales of 1,926 in May 2015. The five-year average for May sales is 1,864.
“As the weather warmed, the Ottawa resale market continued its steady pace upwards, continuing an above average trend for the month of May,” says Shane Silva, President of the Ottawa Real Estate Board. “Units sold are up 207 since April, increasing in both the residential and condominium property class.”
To take advantage of your investment, find out what your home is worth in today's market