The word form the Ottawa Real Estate Board for October 2009 is that Resale home sales in Ottawa are still riding high. During the month of October members of the Ottawa Real Estate Board sold 1,202 residential properties through the Board's Multiple Listing Service compared to 964 in October 2008. This represents an increase of 24.7%. The breakdown of October 2009 sales...270 were in the condominium class while 932 were residential. The condominium class includes any property regardless of style (i.e. detached, semi-detached, apartment, terrace, townhouse etc.) which is registered as a condominium as well as properties which are co-operatives, life leases and timeshares. The residential class includes all other freehold residential properties. “Once again we saw record-setting sales numbers for the month of October. This brings our sales year-to-date to four percentage points higher than the same period last year. Ottawa’s resale market has been buoyed by buyers taking advantage of low interest rates,” said Board President Rick Snell. “Listing inventory remains at a low level, and combined with brisk sales, indicates that we are still in a strong sellers’ market here in the capital,” he added. Average sale price of residential properties including condominiums sold during the month of October in Ottawa was $318,655 this is an increase of 13.6% over October 2008. Average sale price of condominium-class properties was $232,046 representing an increase of 14.6% of October 2008. Average sale price of residential-class properties was $343,745 representing an increase of 13.3% of October 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. source: The Ottawa Real Estate Board |