The average sale price which includes both residential properties and condos was $356,735 which was a slight decrease from July of last year. These average sale prices can be slightly skewed however. In this case, there were significantly less homes over the 1 million dollar mark sold in 2014 than there were in 2013. This factors in greatly to the decrease over last year.
With <a href="http://www.ctvnews.ca/business/td-doesn-t-expect-bank-of-canada-to-cut-interest-rates-1.1925825">interest rates likely not increasing in the near future</a>, most Ottawa real estate agents we've spoken with expect these strong sales in the Nation's Capital Region to continue. If you're looking to buy a home in the area, now is definitely a great time with a large number of homes on the market and favorable interest rates. So get started and <a href="http://www.ottawarealestate.ca/idx/">start searching</a> now!