As we wait for our final statistics to our Spring Market of 2009 we are expecting another month of great record breaking sales.
In May the Ottawa Real Estate board members sold 1969 residential sales through the MLS system. This doesn’t include new home sales or sales that we represented privately. This is at an increase of almost 4% compared to last May of 2008.
An even more impressive number is that we actually have a 19% increase over the sales we produced in April. Making May a really strong spring month for our housing market in Ottawa.
“This was the best May on record for residential resale home sales in Ottawa,” said Board President Rick Snell. “Homes in every price range are selling well, from starter homes to luxury properties. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market,” he added.
Our average sale price increased to $312,045 which is over a 5% increase from last year at the same time. Incredible increase!!!
So although the economy all over the world is being effected by change, our market is still going very strong.
Our interest rates are at an all time low and expected to go down further in August. So as rates go down and average home sale prices go up, this is a great time to be investing in the Ottawa real estate market.
Looking forward to our June numbers soon!
Your Real Estate Professional,
Mary-Anne
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