If January is any indication, it looks like the real estate market in Ottawa is going to have another busy year. And another very good year for sellers.
More homes are selling more quickly and for more money in Ottawa than previously.
Prices are up about 10% for both freehold and condo properties, for the 12 months year-over-year. And prices were up an average of almost 20% in January 2020 compared to January 2019! It’s usually best to compare more than one month because there may be unusual circumstances, but you also need to keep this in mind when considering to sell or to buy.
We’re also including detailed charts this month showing the year-over-year comparisons for both condos and freehold homes. (Note how the number of freehold sales in January drops below January 2019 for the first time in a year…)
We welcome your questions! Contact us to find out more specifically about your neighbourhood or condo building – overall stats are interesting, but they don’t necessarily reflect your property.