One Bedroom vs Two Bedroom Condos in Ottawa
by Dave Williams
An investor wonders how do One bedroom and Two bedroom condos measure up, so we took a look.
One bedroom condos sales have been increasing in numbers (up 9% when comparing 2011 and 2012) while decreasing in average price (down 2.5%) over the last few years, which could be due to a supply of cheaper condos hitting the market.
While 2 bedroom condo sales have been declining in sales #’s (down 15% from 2011 to 2012) while increasing in price from 2011 to 2012 by about 8%.
What I really found telling is the current inventory, 163 singles and 227 doubles currently for sale in those areas which represents 62% and 76% of 2012’s sales respectively. There are so many for sale that buyers really have their choice. This makes it a great time for buy & hold investors as the prices are being driven down because of inventory.