Ottawa Home Sales Take-Off!
The Ottawa housing market has been buzzing with activity during the past couple of months. Traditionally, the Spring market is launched as the snow is melting. During this past year we saw a bit of a delayed reaction to the housing market, as the poor economy results in the last quarter of 2008 caused many home-buyers and sellers to proceed with caution. I had my own condo for sale in Ottawa during the winter months of 2009. When the month of March approached we were sure that buyers would start showing up on our doorstep, then April passed and May hit! May was an extremely active month for those in the real estate industry as phones started ringing off the hook with first-time homebuyers who were ready to take the plunge. The super low interest rates definately played a role in the number of buyers and sellers who entered the Ottawa housing market.
According to the CREA (Canadian Real Estate Association) website, the average price of an Ottawa home in June 2008 was $298,336. The results for June 2009 show an increase to the average Ottawa home sold – $307,793! This increase is both encouraging and exciting for the Ottawa housing market. We have proven, once again, that the housing market in Ottawa can remain stable…and even show growth…during some of the lowest points in the history of our global economy.
For more information, visit CREA website: Home Sales Rebound in Second Quarter