Booming – Ottawa Real Estate Market Report for September 2020

 

Homes in the Ottawa Real Estate Market are still selling like crazy.

Prices for both freehold and condos are up over 16% year over year.  The average price of a condo this September is up 20% over September 2019.  And freehold!!  Up over 28% compared to September 2019!

The number of sales in both categories is interesting as well.  Year-over-year shows fewer homes sold 2019/2020 compared to the same period in 2018/2019, which is not surprising given the slowdown when COVID-19 first hit.  But the last couple of months have been records sales, and September 2020 is continuing that trend.  30% more condos sold this September than last year, and 55% more freehold properties!  Interestingly, properties in the towns and areas surrounding Ottawa are also seeing record-breaking sales with multiple-offers and dramatic increases in prices.  With so many people now able to – or required to – work from home, getting a larger home in a near community like Almonte or Arnprior is making sense to many people.

So it’s still a Seller’s market, which is when there are fewer homes available than there are people looking to buy.

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