The ghouls and goblins of Halloween left behind an October treat with a slight increase in units sold, along with an increase in the average sale price. Members of the local Ottawa Real Estate Board sold 1,073 properties through the Board's MLS® system in October 2012, compared with 1,059 over the same month in 2011, a 1.3% increase. Ottawa’s five-year average sales figure for October is 1,067. This month’s figure is comprised of 237 condos, and 836 residential properties.
"Compared to the five-year average, Ottawa is right on track, indicating that we are not experiencing a real estate downturn in Ottawa, but a slow, steady incline in units sold and average sale price," notes Ansel Clarke, President of the Ottawa Real Estate Board. "Ottawa continues to be a great place to buy and /or sell a home."
Historically Ottawa’s real estate market continues to be on track in the number of sales year-to-date with 12,768 sales in the first ten months of the year. Since 1999 the number of sales in Ottawa through the MLS® has ranged from a low of 11,329 to a high of 14,783. Year-to-date average sale prices are also up over 2011.
The average Ottawa sale price of all condominium and residential-class properties sold in October was $346,492, an increase of 2.5% over October 2011. The average sale price for all condos was $267,037, an increase of 3.0%, while residential-class properties increased 1.8% to $369,016 from the prior October.
Should you have questions about the October statistics, the Ottawa real estate market, or home values in your specific neighbourhood please contact me.
(Information courtesy of the OREB)