March real estate market springs to action

The March stats are out. Here are the 3 key details to keep in mind:

  1. 1,166 residential properties were sold in March, a decrease of 2.8 per cent over March 2015. 256 more properties sold in March over February, “indicating that we are heading into our busy spring market,” says Shane Silva, President of the Ottawa Real Estate Board.
  2. The average sale price of a residential-class property sold in March was $394,951, and the majority of Ottawa buyers continue to buy properties in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 range.
  3. The average residential sale price has increased 2 per cent over March 2015.

Source: Ottawa Real Estate Board

sold for sale sign

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