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October resales comparable to five-year average

Members of the Ottawa Real Estate Board sold 1,090 residential properties in October through the Board’s Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of 2 per cent.  The five-year average for October sales is 1,091.

“Resale units sold in October are right on par compared to the five-year average,” says Ansel Clarke, Past President of the Ottawa Real Estate Board. “This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be steady and balanced.”

The average sale price of all residential properties, including condominiums, sold in October in the Ottawa area was $360,085, an increase of 4.1per cent over October 2012. The average sale price for a condominium property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price for a residential property was $381,580, an increase of 3.5 per cent over October 2012.

Single level condominium apartments: October’s figures showed 116 sales for the month, compared with 100 in October 2012. The average price in October 2013 was $296,265, a decrease of 4.3 per cent over the previous year’s October.

Two story condominium townhomes: October’s figures showed 81 sales for the month, compared with 114 in October 2012. The average price in October 2013 was $231,317, a decrease of 0.7 per cent over the previous year’s October.

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