Statistically speaking the Ottawa Real Estate Market is heating up. Check out my chart below. A quick review reveals that # of sales have increased, $ value of the total sales has increased, average sales price increased, # of days on market has decreased, new listings taken has decreased, inventory of homes for sale has decreased and finally the time which it would take to sell our entire inventory of homes has decreased.
While we may not resemble the Toronto or Vancouver real estate markets the trend here in the Greater Ottawa area is moving towards a Sellers Market. Be prepared to see more multiple offers on homes, homes selling for over asking price & don’t blink otherwise the home you are interested in will already be sold.