A Great Start to 2010 for Ottawa’s Housing Market
Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class.
Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class.
These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009.
If you have any thoughts of putting your current property on the market in 2010, this would be a great time to do so. The market is such that anything that is priced properly and staged to show well, is selling quickly and often with multiple offers bumping the selling price up over asking.
FOR ALL YOUR REAL ESTATE NEEDS, PLEASE CALL MARIANNE BAIRD ANDERSON AT 613-786-2447 or Marianne@kwottawa.ca.
Source: Ottawa Real Estate Board
