We had a slow start in the beginning of 2013 with the introduction of tighter mortgage rules in July 2012, continuing to affect the market. However, as the year progressed, the market picked up again, then leveled out in November and December, ending the year with a total of 13,873 homes sold through the Ottawa Board’s MLS system in 2013. The average sale price of residential properties, including condominiums, increased in 2013 over 2012.
“Although the government succeeded in its plan to “cool down” the market over the past year and a half, Ottawa remains steady and balanced, devoid of large fluctuations in resale activity”, says new President of the Ottawa Real Estate Board, Randy Oickle. “We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home.”
To download a pdf of the ‘Snapshot of the Ottawa Housing Market’ as it appears below, click here.
To download a pdf of the ‘Absortion Rates for the Ottawa Housing Market’ as it appears below, click here.