Ottawa Real Estate

Ottawa housing sales near average in SeptemberMembers of the Ottawa Real Estate Board sold 1,074 residential properties in September through the Board's Multiple Listing Service® system compared with 1,218 in September 2009, a decrease of 11.8 per cent.

Of those sales, 240 were in the condominium property class, while 834 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"After record-breaking sales in September of 2009, this year's sales were closer to the five-year average for this time of year. Home prices continued to appreciate but not skyrocket, as they generally do in Ottawa. I would describe the current state of the housing market in our region as balanced, with a good supply of homes available for sale," said Immediate Past President Rick Snell.

The average sale price of residential properties, including condominiums, sold in September in the Ottawa area was $324,745, an increase of 6.6 per cent over September 2009. The average sale price for a condominium-class property was $240,050a decrease of 0.8 per cent over September 2009. The average sale price of a residential-class property was $349,117, an increase of 8.2 per cent over September 2009. 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.