Ottawa Real Estate Market Snapshot – May 2020

Image may contain: ‎text that says '‎OTTAWA AREA REAL ESTATE MARKET SNAPSHOT MAY 2020 residential TOTAL PROPERTIES SOLD MAY 1 345, % condo AVERAGE SALE PRICE $548,140 11.2 % GHL VERAGE PROPERTIESSOLD $343,589 15.5% YTD HIGHLIGHTS year date average prices $546,177 for residential and $348,458 condominiums, these values 13.8 per 17.8 percent increase over 2019, respectively. over 1,066 43 % 2019 cent ov2019 PROPERTIES SOLD 279 /////////////ااااا ROYAL LEPAGE ///ااااااا Team Realty 49 % 2019 Questions? We're always here to help‎'‎

Real Estate Market Snapshot May 2020:

Buyers are still on the hunt and would love to have more inventory to choose from. Typically we see a boom in the spring market in terms of number of available listings and sales but, as with many other things these days, 2020 is not like any other year we’ve experienced. The unit sales in May dipped significantly which is no surprise, as our industry has quickly and wisely adapted to the new guidelines and measures, while actively assisting buyers and sellers. A 44% decrease in sales is significant, however compared to the 55% decrease in April, many experts in our industry see that it as a positive sign that as our economy gets back on track and people feel more comfortable and confident in the future, our real estate market will quickly follow suit. Thinking of making a move? There are several new practices, both in our policies and in our use of technology that are helping to minimize the health risks, if you have any questions we are always here to help. Let’s chat!