Ottawa Real Estate Update: February Buyers Snap Up Limited Inventory
HIGHLIGHTS (RELEASED BY THE OTTAWA REAL ESTATE BOARD MARCH 5TH, 2019)
“February has been a strong month, and with year-to-date unit sales 8% higher in both the condo and residential categories, it is looking very favourable for the spring market,” states Ottawa Real Estate Board’s 2019 President.
“Days on market continue to decline, and although inventory has fallen to its lowest level in many years, we are still managing to satisfy demand even with 900 fewer listings than this time last year,” he adds. “If we had more supply, our unit sales would be even greater.”
“If you are thinking about selling, don’t wait – get a jump on the spring market! Now is the time to have a conversation with your REALTOR® who understands the best way to position your home in the market and has the experience to guide you through its complexities,” “This is the type of market you certainly wouldn’t want to navigate without one.” [Ottawa Real Estate Board’s 2019 President.]
*Average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.
At Royal LePage Team Realty, your happiness is our priority. We would be happy to set up a property match search that will email you as soon as new listings hit the market! View our listings or contact us, we’d love to help.
We know that your home is often your biggest investment. With the rapid appreciation of home prices in the Ottawa area you should know the market value of your home! It’s just a click away!
Lisa Fitzpatrick ABR, SRS
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