Healthy market in November; new Board President
Members of the Ottawa Real Estate Board sold 942 residential properties in November through the Board’s Multiple Listing Service® system compared with 913 in November 2009, an increase of 3.2 per cent.
Of those sales, 221 were in the condominium property class, while 721 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.
“Both the residential and condo classes showed slightly higher sales than last year, selling prices increased at nearly the same rate, and the number of properties available for sale rose from a year ago as well. These are all good indicators that Ottawa’s housing market is healthy and stable, and that buyers and sellers are confident that a home purchase in our city is a wise investment,” said Immediate Past President Pierre de Varennes.
“I’d also like to take this opportunity to welcome 2011 Board President Joanne Tibbles, who was sworn in as President on December 2 and will act as Board spokesperson for the next twelve months. I wish Joanne all the best during her term,” de Varennes added.
The average sale price of residential properties, including condominiums, sold in November in the Ottawa area was $324,218, an increase of 3.4 per cent over November 2009. The average sale price for a condominium-class property was $265,704, an increase of 17.4 per cent over November 2009. The average sale price of a residential-class property was $342,154, an increase of 0.6 per cent over November 2009.
MERRY CHRISTMAS AND A HAPPY NEW YEAR!
Source Ottawa Real Estate Board December 2010
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