Ottawa Real Estate Market Update for November 2019
Home sales are still very strong in Ottawa, both year-over-year and November 2018-over-2019.
Average prices are up over 8% for both condos and freehold homes.
The average price of a freehold home was almost 18% higher this November than November 2018! Even the comparing the running 12 months (which is a better measure because of the larger sample) the prices are up over 8%!
As we’ve said in other posts this year, we’re seeing the effect of low numbers of properties for sale. It’s still a “sellers market”. After this type of market goes on for a while it snowballs because people who want to sell to downsize – or upsize – can’t sell until they find a new home. But they can’t find a new home because other people are waiting as well…
If you know anyone looking to buy or sell their home we’d be honoured if you’d refer us to them. We’re never too busy to help!
And we’re always ready to answer any questions you might have – perhaps info about your particular neighbourhood. The sales in one area or condo can vary a lot from the average for the city!