OTTAWA MARKET UPDATE – MARCH 2021
The month of March has continued to show how HOT the Ottawa Real Estate Market is! Ottawa has seen 2,285 residential properties in March through MLS, compared to 1,514 in March 2020, an increase of 51 per cent! March’s sales included 1,705 in the residential-property class, up 47 per cent from a year ago, and 580 in the condominium-property category, an increase of 65 per cent from March 2020!
March’s average sale price for a condos in Ottawa was $437,041, an increase of 18 % from last year, while the average sale price for a residential property in Ottawa was $758,802, an increase of 35 per cent from a year ago!
Some may wonder, why work with a realtor while homes sell so fast? Having a professional realtor help you navigate this competitive, fast paced market will yield you more in your pocket and you have the peace of mind that it’s being handled professionally. How to get a bidding war going? How to deal with pre-emptive offers? How to handle the multiple bids properly once received? What upgrades are worth doing? What needs to be done and not done prior to listing your home? Access to contractors, painters, staging, mortgage contacts, lawyers, inspectors, any professionals needed along the way. We pride ourselves in taking on the selling process from start to finish and alleviate the stress for our clients. Sellers benefit from the advice of a professional realtor who can ensure you are marketing and pricing your property competitively and strategically to yield the highest sale price! Contact us for our professional advice!
The market is continuously shifting, if you have any questions about the current market and want to know if now is the right time to Buy, Sell or Invest, Contact us Today! We are happy to help!
Source: Ottawa Real Estate Board, www.oreb.ca
Leave a Reply