Here’s a snapshot of Ottawa’s Market up till the end of June 2019. Pay attention to the 12 month figures to get a more accurate picture as the month of June versus last June can be more chaotic as some times the sales may be higher in the month before or after. Looking at the 12 month figures shows condo prices up 7.0% and freehold up 6.3% overall.
And take a peek at the graphs below which show the 5 year average price history. You’ll see that condos have only recently come up, mostly since January 2018.
You’ll see the freehold average price has gone pretty steadily up over the 5 year period with a noticeable spike up since January of this year, which is consistent with a sellers market. Also notice that the number of condo sales has been rising each of the past few years whereas the number of freehold home sales has stayed roughly the same for the past 3 years.
As always, keep in mind that these are average properties for the Ottawa urban area. We’d be happy to do a review of your home or neighbourhood – let let us know.