November – a blockbuster month!
Numbers have very strong persuasive power. When global economist talk about overpriced market in Canada, Ottawa doesn’t care at all and keeps buying. The latest statistics paint a very boisterous real estate market in our capital city.
See for yourself:
Through the MLS system 1,020 residential properties were sold in November. This is 8.5% more than last year. These numbers are comparable only to the booming times (for real estate) of 2001.
The average sale price was $347,795, another increase of 7.3% compare to a year ago.
One can keep scratching his head thinking what is moving those numbers up and up in Ottawa. The trivial explanation “oh, it’s a government town, stable job market, etc” is not satisfactory to myself at least. But time will tell.