Ottawa Condo Market History and Predictions for 2019

Quick overview of what’s happened in Ottawa’s condo (re)sale market over the last several years and what may happen going forward in 2019. Also checkout my Ottawa Real Estate Commentary for January 2019.

Not getting in to specific statistics or specific locations or buildings within the Ottawa area. Happy to go deeper with specifics if you like, message me in your preferred manner.

It’s January 21, 2019! What’s going on with condos?

Condo market has picked up in last 18-24 months.

Many large new condo buildings were “delayed” in the 2015-2016 range. Some are coming back now.

Bus strike in ’08/’09 seems to have led more younger buyers to consider their housing choices more deeply. Many decided to come closer to the core.

Centretown got busy and then price jumped…led to Hintonburg effect (LINK)…

Two years ago condos were generally selling under previous sale price.

Newer and older condo units now selling MUCH faster.

MPAC showed the reductions as well.

What’s going to happen this year with Condos?

Watch the video and let me know what you think!!!