Housing Market – Ottawa – January and February

Posted on March 29, 2010 
Filed Under Comparable Properties Sales Statistics, Ottawa Neighbourhoods, Valerie Zinger

Buyers are having a sense of buying urgency in the past two months of 2010.  It seems that houses are just listed and – boom – sold.  I looked at three neighbourhoods to see if sales are really faster paced than last year.  Based on MLS® listings for sold residential units (not condos or multiple family dwellings, January and February last year and this:

Blackburn Hamlet:  5 units sold within an average 21 days in 2009.  This year, 9 units sold within an average of 10 days.

Central Park:  14 units sold within an average of 27 days in 2009.  This year 7 units sold within an average of 14 days.

Barrhaven:  100 units sold within an average of 27 days.  This year 103 units sold within an average of 17 days. 

Homes are definitely on the market for less time this year than last year.  For the prudent Buyer – know what you want and where you want to live, have a pre-approved, not just a pre-qualified, mortgage and be ready to have your agent write offers.

This market is not for the timid.

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