Is it a good time to sell your Ottawa Condo? (Trend Analysis)
I've explained how the Ottawa real estate market is seeing rapid growth early on in 2018. In February 2018 the condo sales were essentially driving the market. Quality rentals are hard to find in Ottawa as vacancy rate is quite low. Because of increase in the downtown rental rates many tenants are choosing to purchase small condo condos instead of renting.
Below are some trend analysis including historical charts for condos for both the average sale price and number of units sold. The hottest segments continues to be condos priced between $175,000 and $249,900 representing close to 1/3 of all condo sales in February. 2017 was a strong year for condo sales with many builders unloading much of their built but unsold inventory.
If you would like to discuss the purchase or sale of a Ottawa condo call Roch St-Georges at 613-889-7732. I would love to discuss your real estate goals with you.