Housing Market In Ottawa Remains Hot

In the month of September, the numbers obtained from real estate agents in Ottawa indicated that the market continues to strive well and sturdily. The figures for the sales of homes in Ottawa were up to 1,371, which is 10.5 per cent more than the previous year and lasted higher than the 1,171 5-year average for last month.

“Again this month, we have broken the record for residential and condominium units sold, with 200 more units sold more than the five-year average for September sales. With average sale prices remaining virtually unchanged since the beginning of the year, this could be an indication that prices have adjusted to market expectations and sales have rebounded as a result,” said the President of the Ottawa Real Estate Board, Shane Silva.

The prices cool down as the residential homes were sold for a normal price of $383,793; which decreased by 0.1 per cent from the previous year. The price for condos averaged to $252,136,a decline by 0.2 per cent over the years.