Today we will look at a market external to the GTA, namely Ottawa. The dynamics of market is shifting towards under-priced and under-valued cities as capital moves out of overproced locations.
Here is the skinny:
-Condo prices went up by nearly 10% annually, reaching $313,734. Sales of the property type grew by 12.2%, for a total of 330 transactions.
-A total of 1,288 homes were sold in the region last month, up by 10.9% from November 2018.
- 39% of the condo transactions during that period were in the $350,000-$499,999 segment, although the $500,000-$749,999 range is also exhibiting sustained growth, claiming 32% of November sales.
What does this mean to YOU, the buyer? There may be an investment opportunity, screaming at you! With the right private and/or investment mortgage you can capitalize on a good investment! Call us at 416-830-1510. We have an expert on Ottawa market in-house!
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