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The real estate market in February 2021 remained an extremely strong sellers market with the number of homes sold up 9.6% and the average price increasing to $669,626.00 up 32.9%. Demand is highest in the entry level townhome segment and prices are seeing significant gains. There are still market segments that haven’t increase as quickly. The expectation is that demand will remain high through the spring months and while inventory should increase it will be outpaced by demand resulting in further price increase.
Fueling the market are historically low interest rates, limited new builder options, high buyer demand and the historically stable Ottawa employment environment. Even during the Pandemic employment in Ottawa has remained stable allowing many to venture into real estate.
If you are are considering buying or selling in 2021, feel free to give me a call, i’d be happy to discuss your circumstances and provide you with a plan of action. No cost or obligation. Give me a call at 613-867-9921 or email me at david.armstrong@c21.ca
