Members of the Ottawa Real Estate Board sold 1,020 residential properties in November through the Board's Multiple Listing Service® system compared with 940 in November 2010, an increase of 8.5 per cent. The five-year average for November sales is 881.
Of those 1,020 sales, 244 were in the condominium property class, while 776 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.
"Last month was the best November on record for resale home sales in Ottawa. The last time we saw sales numbers anywhere close to that number was in 2001. It speaks well for the stability of our market that even in the quieter months of the year, our market is still thriving," said Board Past President Joanne Tibbles. "The number of properties available for sale is higher than at this time last year, indicating that homeowners are confident that it's a good time to put their home on the market, and based on these great sales numbers, buyers are also confident, especially as interest rates remain stable," she added.
The average sale price of residential properties, including condominiums, sold in November in the Ottawa area was $347,795, an increase of 7.3 per cent over November 2010. The average sale price for a condominium-class property was $265,800, nearly unchanged from November 2010. The average sale price of a residential-class property was $373,577, an increase of 9.2 per cent over November 2010. 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.
courtesty of the Ottawa Real Estate Board
Showing posts with label for sale. Show all posts
Showing posts with label for sale. Show all posts
Monday, December 5, 2011
Monday, March 7, 2011
Market Update:Resale homes sold more quickly in February
Members of the Ottawa Real Estate Board sold 936 residential properties in February through the Board's Multiple Listing Service® system compared with 1,030 in February 2010, a decrease of 9.1 per cent.
Of those sales, 213 were in the condominium property class, while 723 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.
"Once again we're seeing sales numbers very close to the five-year average for February, which is 962 sales. It's important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa," said Board President Joanne Tibbles. "This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they're going after it, perhaps even going up against other bidders," Tibbles added.
The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $338,408, an increase of 6.7 per cent over February 2010. The average sale price for a condominium-class property was $260,112, an increase of 6 per cent over February 2010. The average sale price of a residential-class property was $361,475, an increase of 6.9 per cent over February 2010. 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.
courtesy of the Ottawa Real Estate Board.
Of those sales, 213 were in the condominium property class, while 723 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.
"Once again we're seeing sales numbers very close to the five-year average for February, which is 962 sales. It's important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa," said Board President Joanne Tibbles. "This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they're going after it, perhaps even going up against other bidders," Tibbles added.
The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $338,408, an increase of 6.7 per cent over February 2010. The average sale price for a condominium-class property was $260,112, an increase of 6 per cent over February 2010. The average sale price of a residential-class property was $361,475, an increase of 6.9 per cent over February 2010. 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.
courtesy of the Ottawa Real Estate Board.
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