Ottawa Neighbourhood Market Update: Bel Air (November 2009)

Here's an update on the Real Estate Market in the Ottawa west end neighbourhood of Bel Air.  For our purposes, we include areas 5401, 5403, 5405, and 5406 which are Bel Air Park, Bel Air Heights, and the two Copeland Park neighbourhoods.  5402 (Braemer Park) and 5404 (Industrial) are excluded as they are less uniform in neighbourhood characteristics and as a result do not tend to have similar market values to the other area 54 neighbourhoods.

You may have read that YTD market data to the end of October shows Ottawa still in the heat of a strong Seller's market.  Low inventory, sales to new listing ratios over .6, increasing prices and volume all continue.  It is always much more interesting to look at specific neighbourhoods (or even Streets!) and compare to the city-wide results.  End of October prices were up over 13% year over year, and volume was up more than 25% year over year.  So Bel Air is doing well, but actually a little slower than the overall Ottawa average on price and volume.  Days on market is very low, however, especially for Residential properties (non Condominium.)

Data is provided by the Ottawa Real Estate Board to its REALTOR members through the MLS system and statistical reports.  Facts are believed to be accurate but are not warranted.