Kris Sherry's Blog

Ottawa Market Update For February, 2014

Posted on: March 5th, 2014 by Kris Sherry
I think we are all wondering if Spring will ever come -or even more – if winter will ever end! 
 
Members of the Ottawa Real Estate Board sold 870 residential properties in February through the Board’s Multiple Listing Service® system, compared with 903 in February 2013, a decrease of 3.7 per cent.

This year over year decrease in sales is perhaps due to the unusually cold weather or the distraction of the Olympics, but sales ARE up on a month-to-month basis. The market has picked up as we approach the busiest time of the year – 282 more homes were sold in February, over January.”  February’s sales included 197 in the condominium property class, and 673 in the residential property class.

 
The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $353,407, an increase of two per cent over February 2013. The average sale price for a condominium-class property was $257,752, a decrease of 2.3 per cent over February 2013. The average sale price of a residential-class property was $381,407, an increase of 2.1 per cent over February 2013. Every area is, however, slightly different so please give me a call if you are interested in knowing the value of your property.
 
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.
Kris

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