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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