January is normally the 2nd lowest monthly sales in the Nation’s Capital which would be no surprise to most. This year however, buyers and sellers shook off the winter blues (and the snowiest January on record) and pumped out a 15.8% unit sales increase, in what was a record January.
Listing inventory remained a key factor, as residential inventory was 20.3% lower than a year ago and condo listing inventory was down 30.9%.
New listing trend is somewhat positive, as new residential listings were up 2.2% from a year ago, though condo listings were down 11.8%. So our seller’s market conditions continue.
Some average price growth, with residential properties sold up slightly by 1.5% to $432,829 and the average condo selling price was $283,990 up 7.7%
If you are contemplating a move to or around Ottawa this year, please give us a call and we would be happy to help you navigate this challenging market.
Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage 613-435-4592 www.oasisrealtyottawa.com