Insurance Claims Adjuster, Claims News, INSURANCE/CLAIMS, Hot Ottawa Real Estate Market Shows No Signs of Slowing Down

Become a member and contribute content to Add your company to the Vendor Directory Add job openings to the Career Center
Claims-Portal.comClaims News
My Claims-Portal
Nov 29, 2022    
 - Member Benefits
 - Become a Member
 - About Us
 - Advertising

this page!
Independent Adjusters
Claims Software

Browse Categories
Claims News Sections
  Association Announcements
  Business Announcements
  NAIIA Member Announcements
  Other Categories
C2Track Claims Management System


Print Story

Hot Ottawa Real Estate Market Shows No Signs of Slowing Down
By Simon Mulh

Claims Software

According to the Ottawa Real Estate Board the number of homes sold in Ottawa during the month of November increased over 8 percent from the previous November. While the five year average number of homes sold in November is 881, real estate agents sold 1020 residential properties in November 2011. November 2011 was the best November ever for residential homes sold in Ottawa setting the new record number of 1020.
This high sales activity speaks volumes about the stability and strength of the Ottawa housing market. With the coming of winter and the cooling weather home purchase activity normally slows down but this year all bets seem to be off. The air might be chillier but real estate market activity is very much hot in Ottawa.

The balanced market shows the confident of both home sellers and buyers. The historically low interest rates, people relocating to Ottawa and stable employment all help to make the Ottawa properties an attractive choice for both families and investors causing a healthy and balanced real estate sales conditions.3

Prices in November 2011 increased a very commendable 7.3% over the November 2010 home prices. Yet Ottawa remains one of the most affordable metropolitan areas in Canada with the average residential home price now at just over $347,000 which makes it possible for couples and young families to enter the real estate market fairly easily early in the life cycle.

Condominiums continue to be the popular choice for many in Ottawa and it is impossible to miss the number of new condominium building constructions in the city’s central areas such as on Bank street and the Westboro areas. Young professionals and baby boomers downsizing are driving the condo market which does not show signs of a slowdown. The city also proves attractive to young families with its various suburbs, parks, community centres and modern shopping malls. The construction of the bridge connecting the modern neighborhoods of Riverside South to Barrhaven will have a major impact on both of these outlying areas making them more accessible and even more attractive to home buyers in the near future.

Ottawa is clearly a city with a great future. The real estate market reflects this realistically and the trend seems to be that this robust development will continue into the next year and more. The cold weather may come soon but the Ottawa real estate market shows no signs of cooling down.

Print Story
Send This Story To Someone
Your Email:
Their Email:

Claims News Home Page   |   RSS Feeds
Announcements   |   Member Blogs   |   Newsletters   |   Letters
Submit A News Story   |   Contact The Editor

  •  Announcements
  •  Claims Events
  •  Insurance News
  •  Special Offers
  •  Newsletters
  •  Blogs
  •  RSS Feeds
  •  Directory
  •  insURLinks
  •  Classifieds
  •  About Us
  •  Contact Us
  •  Advertising
  •  Member Search

  •  Registration
  •  Login
  •  E-Mail Lists
  • Home  |   Privacy Policy  |   Terms of Service  |   Site Map
    © 1998-2022, LLC