home sales in Ottawa
increased by 10.6 per cent in April, compared to the same month last year.
New figures from the Ottawa Real Estate Board showed that there were 1,570 homes sold in the month, building on last year’s figure and beating the five-year average for April (1,531).
David Oikle, president of the board, says that buyers were out despite the lingering cold weather: “Sales continued their steady pace upwards since the beginning of the year, with 362 more properties sold this April over March.”
The region’s condo-class properties, including timeshares and co-operatives, made up 258 of the sales.
“The average cumulative days on market has improved even more in April, coming in at 74 days, compared to 83 in March,” says Oikle.
“Properties are moving faster and inventory is plentiful, with just under 9,000 residential properties, including condos, available for sale going into May.”
Sale prices in Ottawa
increased too; condo-class homes now average $265,371, up 2.7 per cent from a year ago; other home types rose by 0.9 per cent to $403,239.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Petit-Saguenay, Fredericton Junction, Centreville, Halbrite, Newton