Ottawa saw its best May on record for housing sales, with the capital city’s Real Estate Board reporting a 19 per cent increase in sales from the previous month and a 5.3 per cent increase in house prices over May 2008.
Homes in every price range are sell well, right from starter homes to luxury properties, according to the president of the Ottawa Real Estate Board. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market.
They reported that 1,969 residential properties were sold in May at an average price of $312,045, a slight rise in mortgage financing has been noted for the same time period. Ottawa hasn’t seen as much of a slowdown as the rest of the country because it is more isolated than the rest of the country and there is more guaranteed income due to the large number of government jobs the capital city has to offer.
Warmly
Mary Wozny
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