How's the housing market in Ottawa?

How's the housing market in Ottawa? November was a great and successful month in Real Estate sales. Many buyers and sellers in Ottawa were all trying to get into their new homes before the Christmas holidays. There are still many multiple offer situations and a shortage of homes on the market but all in all the Real estate market in Ottawa is still going strong!

According the Ottawa real estate board President Rick Snell "November home sales back on track after slow 2008"! During the month of November members sold 916 residential properties through the MLS system which is an amazing increase of 42.5% over November of last year!

"The dramatic increase in sales can be explained by last year's sales being affected by the crisis in the financial markets," said Board President Rick Snell. "The five-year average for November sales is 809. Listing inventory remains at a low level and we are still in a seller's market," he added.

Below you'll find a review of November's real estate numbers - another great month with more price increases!

The average sale prices are as follows:
- Average residential/condo sale $313,370 increase of 7.4% over Nov of last year
- Average condo sale $225,767 increase of 1.7% over Nov of last year
- Average residential sale $340,075 increase of 9.8% over Nov of last year

With Christmas a little over 2 weeks away there is still time to buy or sell your home in Ottawa - we will still predict the seller's market to continue in the new year but we're hoping the spring market brings more properties for sale and increased inventory.

Check back in a month to see How's the housing market in Ottawa for the month of December. And wether you're a buyer or a seller in orleans, pineview or ottawa i'd love to help! Visit http://www.christianelafleur.com/ or call me directly anytime (613) 859-0809.