2019 is here and it’s the time to make your homeownership dreams come true. If you have been on the fence about buying your first home, there is no better time to do so than right now. This time of year means that Ottawa and Oshawa mortgage rates are at an all-time low. Mortgage professionals are expecting these rates to rise in the spring and summer, so schedule an appointment with a broker now so you benefit from these current low rates.
To help you get started, your local broker with The Mortgage Emporium has listed the most current market update for the Ottawa and Oshawa region.
Ottawa Market Update
In reference to Zolo.ca, the current average sold price for all property types in Ottawa is $515,000. According to the housing rates of the previous month, the current average price has massively increased by 160.4% and has increased by 30.4% since January 2018.
Prices are only expected to continue to rise throughout the year so it would be in your best interest, financially, to schedule an appointment with your Oshawa mortgage broker now before these rates become too expensive.
Houses are selling at a fast rate and the selling to listing ratio is at 100%, this makes Oshawa an excellent place to settle down and become a homeowner.
Oshawa Market Update
The current average sold price for a home in Oshawa is $476,000 according to Zolo.ca. This price is a 7.6% decrease since December 2018 and is a 2.8% decrease since January 2018. This current decrease in price is an excellent opportunity for those looking for an Oshawa mortgage.
As mentioned previously, experts are predicting that housing rates are going to get more expensive in the next few months, so take advantage of these current low prices and schedule a meeting with your broker today.
The housing inventory for Oshawa currently has about 293 listings. There were 117 homes sold within the last year, homes spend an average of 32 days on the market and the selling to listing ratio is 98%. Oshawa has a thriving residential market and would, therefore, be a wonderful place to purchase your dream home.
For more information about the current market trends for Oshawa and Ottawa or to get started on your home loan application, please contact your Ottawa and Oshawa mortgage broker with The Mortgage Emporium at 888-421-9330.