After blazing through the worst of the recession, Canadian Real Estate is poised to remain a strong Seller's market in the first half of 2010. According to the Bank of Canada: "A hot housing market is part of the natural flow of economic recovery." We have emergency low interest rates that are stimulating demand and encouraging Buyers back into the market. What exactly does this mean for homeowners? With the seasonal low inventory of homes for sale, paired with an increase in Buyer demand, it sets up an equation that equals time to make a move! With competition among Buyers, Sellers receive multiple offers and home prices appreciate significantly. Numbers will say it all, in the last quarter of 2009 the average sale price of residential properties in the Ottawa area was $330,471. This was an increase of 12.8% over Decemeber 2008, and the average sale price of standard condominiums rose 17.9% to $246,062. Why not make a move while the market is on your side!
Please feel free to get in touch with our Team anytime at info@myottawarealestate.com to review your options.