The Ottawa Real Estate Market continues on a steady course.  Re-sale housing inventory is up by 6.9% since last year and interest rates remain low – all indicating that Ottawa remains a healthy, stable market.

Members of the Ottawa Real Estate Board sold 1,568 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,530 in April 2011, an increase of 2.5 per cent.  April’s sales included 300 in the condominium property class, and 1,268 in the residential property class..

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $364,077, an increase of 3.7 per cent over April 2011. The average sale price for a condominium-class property was $272,851, an increase of 6.7 per cent over April 2011. The average sale price of a residential-class property was $385,660, an increase of 2.6 per cent over April 2011.

 Since each area shows slightly different trends, if you would like to see what is happening in your neighbourhood, contact me and I can send you the recent sales, average prices and any other additional information that you may wish to have. 

If you have any questions about the market or know anyone else who would like to receive my Real Estate Market Update, please call or e-mail me.   

By the way, referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move.  I’d be delighted to have the opportunity to provide them with my real estate services.