Whats going on in Riverside South?
It’s been a robust real estate market this spring and one of the clear winners of this years market is riverside south. I’m writing this on Friday, May 25th , so the numbers will already be better by the time you read this. Keith Bray, our team expert on Riverside South, and resident has been just abuzz about it, so we gave him an outlet, this blog.
So Keith, how’s the Real Estate Market in Riverside South?
In one word, Awesome! Right now we have 56 homes of various sizes for sale in the area, from nice and affordable town homes starting at $284,900 right up to 1.9 Million Dollar Mansions (that’s the one I’d like to live in, mostly cause it’s got a pool and that’s what the wife is pushing for this summer). In case you are wondering, only 8 of these homes have pools, so they will be (pardon the pun) the Hot Properties over the next few weeks.
Wow, 56 for sale, isn’t that a lot?
Sure, it’s a lot of options and choices, but these homes run the full gambit of price ranges and styles. Take a look at the last 3 months and you’ll find 57 homes have sold in the area, which means we only have enough homes to sell for the next 3 months. Those 57 Homes sold on average in 23 days (median of 20 if your a stats person) which we feel makes Riverside South a sellers market!
So Break it down for us.
Ok, there are 4 Homes for sale right now under $300,000, and in the last 3 month 7 Sold for under $300,000 so these 4 properties will be in very high demand,
There are 18 Homes in the $300,000 to $400,000 price range and 23 Sold in the last 3 month so again a high demand,
in the $400,000 – $500,000 band we have 14 properties offered and 15 Sales in the last 3 Month,
now here’s where is starts to slow down a bit, from $500K to $750K we have 14 homes for sale but only 12 have sold in that price range over the last 3 months, so the higher price band starts to take a little longer to sell, and over that we have 6 properties for sale without a sing sale over $650,000 in the last 3 months, so those pools may come in handy. Don’t be surprise thought, the higher price ranges typically do take longer to sell.
Alright, any parting words of wisdom Keith?
Aside from the typical “Call me if you need to buy or sell spiel?”
Yah, Aside from that.
Although the bridge has been delayed for the time being, as soon as it’s open there will be some drastic gains in the real estate market as Barrhaven and Riverside South home prices come into sync, so now (2012) is the time to buy and build some equity before the Real Estate Speculators starts snapping up properties.
Great thanks Keith, and if someone did want to give you a call?
Got questions of your own, ask us at http://www.OttawaRealEstateQuestions.ca
Keith Bray is a Sales Representative with Keller Williams Ottawa Realty
Not intended to solicit business from anyone under contract with a REALTOR ®
©Dave Williams -2011-