“January is typically one of the slowest months of the year for local real estate. Yet, in spite of the record cold and snowfall, unit sales are up almost 16%. This is the highest number of January transactions we have experienced in decades,” – OREB President 2019
Motivated buyers aren’t being scared away by the cold, properties are moving quickly. While many sellers might believe it’s best to “wait for spring” if you’re looking to sell, it’s a good idea to speak to your realtor now.
When asked what he forecasts for the upcoming year, [OREB PRESIDENT] speculates, “Based on last month’s sales, I’d say we go with Wiarton Willie’s prediction – it will likely be an early spring for the real estate market as well.”
*Note that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood .
Read the full news real release from the Ottawa Real Estate Board