Thursday 7 April 2016

The Gunn Team Announce How Leap Year Creates Sales Opportunities for Ottawa Housing Market

Ottawa, ON – March 11, 2016—Sales in the Ottawa housing market received an unexpected boost this year. The extra 24 hours of the Leap Year day provided just enough time for Ottawa real estate agents to reach 911 total sales for the month. After years of slow sales, the increase is a sign that the Ottawa housing market may be poised for strong growth in 2016.
In February 2015, agents sold 850 units, a slight increase over the previous year, but well under the 908 unit five-year average. There was some indication that the Ottawa housing market might be in trouble for much of the year; however, strong sales at the end of 2015 and a good start to 2016 have alleviated many of those fears.
The Gunn Team, a leader in the Ottawa housing market, pointed to an increase in the value of the listed properties as a sign of strength in the market. Citing an increase of more than 10 percent in the value of home inventory between January and February, as well as an increase of more than 1.2 percent in average home prices, the Gunn Team is pleased to report positive indicators for the Spring selling season.
Members of the Gunn Team anticipate a robust housing market at least through the rest of the year, with advances in both condominium and residential housing sales. The distribution of property sales in February pointed to especially lucrative opportunities for sellers who wish to unload bungalows, town homes or multi-storey properties between $300,000 and $400,000.
About The Gunn Team
Almost a decade of experience has made the Gunn Team a leader in sales and analysis of the Ottawa housing market. The Gunn Team’s personal approach to home sales enables buyers to sift through the dozens of properties on the market to find a place that matches their needs and their finances. Sellers enjoy working with the Gunn Team because of the team’s ability to attract qualified and motivated buyers.
For more information, please visit thegunnteam.ca or call (613) 614-0498.

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