Ottawa Real Estate Upswing in Sales for the April Market

Members of the Ottawa Real Estate Board sold 1,573
residential properties in April through the Board’s Multiple Listing Service┬«
system, compared with 1,568 in April 2012, an increase of 0.3 per cent.

“The Ottawa market is doing well, and gaining ground back since the
“cool-down” of the market for the past five months,” says Tim Lee, President of
the Ottawa Real Estate Board. “We are on par with the strong sales of last
April, and the resale market is up 34.9 per cent since last month. With the late
onset of warmer weather, the traditional “spring market” saw its upswing a
little later this year. With interest rates continuing to be low, Ottawa remains
a healthy, stable market.”

April’s sales included 302 in the condominium
property class, and 1,271 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.

The average sale price of residential properties, including condominiums, sold in
April in the Ottawa area was $371,565, an increase of 2.1 per cent over April
2012. The average sale price for a condominium-class property was $266,596, a
decrease of 2.3 per cent over April 2012. The average sale price of a
residential-class property was $396,507, an increase of 2.9 per cent over April
2012.