Hello Ottawa,

Having grown up in Chapel Hill, which is located in the east end of Ottawa, a large portion of my client base either lives in Chapel Hill or are looking to buy a home in Chapel Hill. The question that comes up frequently is, "how is the market doing?"  Let me answer that question specifically addressing the sales in Chapel Hill thus far in 2010.  If you're not familiar with Chapel Hill, I have attached a map with the basic outlining the neighbourhood.  Chapel Hill was developed in two stages, the first is the area north of Innes Rd which was developed in the 80's and the second state is South of Innes Rd and was developed in the 90's.  Chapel Hill is known for, and desirable due to the larger lot sizes then are generally found in newer areas, as well as it's relative proximity to downtown compared with the the rest of Orleans.  I will go into more detail on another post with the types of homes, lots, and other details of the neighbourhood.

Statistics:

• So far in 2010 there have been 168 sales taking an average of 17 days to sell compared to 161 sales in 2009 and an average sale time of 25 days.
• The average listing price of a home in Chapel Hill this year is $392, 000 with an average sale price of  $388, 000. Compared to last year which had an average sale price of $359, 000.
• The most expensive home to sell this year in Chapel Hill sold for $975, 000

If you have any further questions or would like an opinion on the value of your home I would encourage you to get in touch.