Ottawa Home Loan – Ottawa Market Update

Are you looking to purchase a home in the Ottawa area? If so, look no further than The Mortgage Emporium for your Ottawa home loan needs!

Our team of experienced mortgage professionals is here to help you through the entire process, from getting pre-approved to finding the right home that fits within your budget, to closing on your mortgage contract.

Once you have been pre-approved for your loan, you can begin searching for your dream home!

We understand that the process of finding the perfect home at the right price point can be difficult so we strive to make that process as easy as possible for our clients. In addition to working with real estate partners that can make the search feel less like work, we also like to provide our clients with relevant information, such as regular market updates.

In April of this year, there were a total of 379 completions across all property types – freehold, condominium, and rental. Of these completed properties, 258 were in the freehold market, 12 were in the condominium market and 109 were in the rental market. Overall, there were 27 more completions this April than there were in the same month last year.

The volume of sales this April is down year over year from 349 in 2016 to 275 in 2017. The majority of these sales were made on homes in the $350,000 – $449,999 price range, with the $450,000 – $499,999 price range coming in close behind. This is the opposite from last year when the $450,000 – $499,999 price range had the most sales.

At The Mortgage Emporium, we like to think of these market updates as tools that can be used, in combination with the services we provide, to help our clients move through the process and into their dream home as quickly and with as little stress as possible!

Whether you are looking to buy a home in the local area, or have questions about the other mortgage products we offer, give us a call to set up your mortgage consultation today! We can’t wait to help you save on your home financing!

Source: https://www.cmhc-schl.gc.ca/odpub/esub/64187/64187_2017_M05.pdf?lang=en

Leave a Reply

Your email address will not be published. Required fields are marked *