New Listings Coming to the Market

You are in the market for a new home or condo this Spring? The latest Canadian Real Estate Association report is in and newly listed homes rose 4.8% in February 2017 led by the Greater Toronto Area and nearby areas.

The GTA is one of the few cities in which newly listed homes rose after a sharp drop in January 2017. More than one third of all housing markets saw a decline in new listings from the previous month.

Across the country in the Greater Vancouver region new listings fell nearby 25% from their January levels.

The national sales-to-new listings ratio now sits at 69% up only from 68.7% in January. Ratio's between 40-60% are generally consistent with a balanced housing market.

There are currently 4.2 months of inventory on a national level down from 4.5 months in January and the lowest level in almost a decade.

Contemplating selling a property in the Ottawa area? Call Roch St-Georges at 613-889-7732 discuss average days on market and home prices in your area.