Kris Sherry's Blog

Ottawa Market Update, January 2015

Posted on: February 6th, 2015 by Kris Sherry

The recent onslaught of cold weather didn’t stop Home Buyers in January!

Members of the Ottawa Real Estate Board sold 627 residential properties in January through the Board’s Multiple Listing Service® system, compared with 587 in January, 2014 – an increase of 6.8%.  The 5-year average for January sales is 633.

There is a lot for Buyers to choose from!  The number of residential and condo properties listed in January (2,018) more than doubled the amount of newly listed properties from December – which is normal at year-beginning in advance of the usual busy spring market.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $348,617, an increase of 0.5% over January 2014.  The average condo property was $250,406, down 5.7% over January 2014.  The average residential class property was $370,442, an increase of 0.5% over January 2014.

The possibility of interest rates approaching record lows will provide even more opportunity for buyers.  Our real estate market here in Ottawa remains stable, and the year ahead looks promising.

Every area is different, so please give me a call if you are thinking of moving – buying or selling.  Referrals are always welcome – they are the cornerstone of my business!

Kris

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