Every month we take a closer look and drill down the sales data of Ottawa condos from the previous month. Here are the statistics for January and the top five "downtown" areas - Centretown, Byward Market and Sandyhill, Little Italy (which includes Lebreton Flats), Hintonburg, and Westboro. The information will be specific to apartment-style condominiums, and only what sold through the MLS. Also, DOM (Day's On Market) is calculated to include the conditional period, which in Ottawa is almost every single transaction to be roughly 14 days.
“There is no snow in condo land.” Damn, how could there be? It is WAY to hot out there for any snow. In January, every neighbourhood has averaged over 100% list to sold price, with Westboro and Hintonburg seeing over 102%. We are seeing set offer dates on more and more listings - making it more frustrating for buyers. What’s worse? It is only the beginning. There is no end in sight and we are hearing more reports about condos having double-digit price increases over 2020. For buyers, for those who are serious, buy now, don’t hesitate. Longer you wait, the “worse” it is going to get.
Sellers? Hello?? Where are you? Stop hiding, we need you! In this market, the worst thing you can do is to just list your property. Now more than ever before it calls for a plan - one that is formulated from experience and executed with precision. We are seeing part-time agents or ones who don’t have any REAL condo experience - who are leaving their clients dollars on the table. Thinking about selling, let’s chat. Take full advantage of the market and the experience of a condo professional.
Want to chat about your options? Fill out the form at the bottom of the page, or call me directly 613-286-9501.
Do you have any questions about how this information affects your investment or looking for more information to make the best decision about your purchase? Let’s chat! Fill out the form on the bottom of the page.
