Ottawa Real Estate Market Report for April 2019
Like the Energizer Bunny… Ottawa home sales posted another very strong month in April 2019. Both freehold and condo properties did very well.
Prices are up very strongly in both categories of property. Condos sold for about 13.9% higher prices in April this year than April 2018, and freehold properties were up almost 9%!
More importantly, because a particular month can have some unusual event or events that impact prices, the year-over-year figures are also up significantly: condo prices are up more than 6% for the year ended April 2019 compared to the year ending last April. And freehold prices are up almost 6% for the same comparison.
The number of condos sold is showing a healthy recovery: up over 4% April-over-April, and over 8% year-over-year.
Freehold sales are still showing the effects of low inventory – strong price gains, but a drop in number of sales because there’s so little available that they are sold very quickly when they appear on the market.
Still very good for sellers and difficult for buyers. (Also known as a sellers market.)