Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1
Members of the Ottawa Real Estate Board sold 1,573 residential properties, including condominiums, in April through the Board’s Multiple Listing Service® system, compared with 1,568 in April 2012, an increase of 0.3 per cent.
“The Ottawa market is doing well, and gaining ground back since the “cool-down” of the market for the past five months,” said Tim Lee, President of the Ottawa Real Estate Board. “We are on a par with the strong sales of last April and the resale market is up 34.9 per cent since last month. With the late onset of warmer weather, the traditional “spring market” saw its upswing a little later this year. With interest rates continuing to be low, Ottawa remains a healthy, stable market.” explains Mr. Lee.
The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $371,565, an increase of 2.12 per cent over April 2012. The average sales price for a condominium-class property was $266,596, a decrease of 2.3 per cent from April 2012. The average sale price for a residential property was $396, 507, an increase of 2.9 per cent over April 2012.
Single level condominium apartments: April’s figures showed 150 sales for the month, compared with 140 in April 2012. The average price in April 2013 was $288,832, a decrease of 7.8 per cent over the previous April.
Two story condominium townhomes: April’s figures showed 131 sales for the month, compared with 137 in April 2012. The average price in April 2013 was $240,729, an increase of 2.3 per cent over the previous year’s April.
To summarize, volume is increasing while prices have dropped slightly. With the return of good weather it seems that the buyers are also returning. Ottawa remains strong.