The fall/winter is always one of the best times to buy and this year is no exception.
Seasonal Crunch for Ottawa Condo & Home Sellers
Sellers are feeling the seasonal crunch as they missed their goals of selling in the spring or summer. Low interest rates, 1736 homes+ to choose from within the Greenbelt and many in Ottawa’s top neighbourhoods combine for great opportunities for Ottawa home & condo buyers:
24 homes average asking price of $1,288,797 – 2 Sales since July – 8.72 Months of Inventory – Year to date sale to list price – 91% – 141 days on market – 1,292,500 average sales price
- Centretown and the Golden Triangle
$423,465 average list price – 125 Listings – 33 Sold – 3.78 Months of Inventory – Year to date sales to list – 98.8% – 18 Days on Market – $381,331 Sales price
- Glebe, Old Ottawa South, Canal East – Carleton University
125 Listings $471,505 average list – 16 sold – 7.8 Months of inventory – 4 – 98.9% – 26 Days on Market – $563,854 average sale
- Old Ottawa West – Westboro, Wellington Village, Civic Hospital, Hintonburg
119 available – $509,635 – 19 sold in August – $471,420 average price – 6.3 Month Inventory – $419,609 Sales price
- Beechwood Village – New Edinburgh / Lindenlea
42 Active, $391,357 – 13 sold since July – 6.46 Months of Inventory – $606,372 average sales price ytd
- Byward Market / Lower Town
78 Active – $385,026 – 5.57 Months of Inventory, 19 DOM, 98.6 Sales to list price $394,031 average sales price
- Sandy Hill – University of Ottawa
38 listings – $406,178 asking price – $462,747 average sales price – 23 days on Market – 98.3 sales to list price –
What This Means for Your Ottawa Move
What does this mean to you when you are moving into Ottawa? Learn the neighbourhoods – get to know what is happening in each micro market. With a 99% occupancy rate in rental properties we are seeing multiple offers on rentals so don’t count of finding something will enjoy renting under $2,000 per month.
As for moving out of town, I still believe that Ottawa is the most affordable capital city in the world based on price per square footage and living standards.
The most important thing is to select an agent that is actively selling homes and helping buyers buy as they are in tune with the market. You can count on my team to deliver the news you need to hear and not what you want to hear.
If you would like a market update for your neighbourhood of interest it would be our pleasure to assist.