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April 2018 Archives

Our Real Estate Team Is Growing

Merovitz Potechin LLP is seeking a commercial real estate lawyer to join our growing team.The ideal candidate will offer experience assisting clients with a wide variety of real estate matters including buying, selling and refinancing commercial and residential real estate. Previous experience declaring condominiums and with other land development work, including land titles absolute applications, is a valuable asset.

Fewer listings, higher prices in Ottawa's real estate market

When there are significantly more prospective real estate buyers than sellers or vice versa, things can get competitive in any market. This appears to be the situation in Ottawa's real estate market, where there was a 21 percent decrease in residential properties for sale in Feb. 2018 compared to Feb. 2017. This is resulting in more real estate bidding wars in the city than in years prior, leading to some properties selling significantly over asking price.There were only 3,028 residential real estate and 1,064 condominium listings in Ottawa in Feb. 2018. Hot areas in the city have seen higher closing prices as a result, mainly those along the Ottawa river to the east and west of downtown. The benchmark price for single family homes in Feb. 2018 was $409,200, a 8.5 percent increase from the year prior.

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Merovitz Potechin LLP
300-1565 Carling Avenue
Ottawa, ON K1Z 8R1

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