September Ottawa Home & Condo Market Report

Members of the Ottawa Real Estate Board sold 1,202 residential properties in September through the Board’s Multiple Listing Service┬« system compared with 1,071 in September 2010, an increase of 12.2 per cent. The five-year average for September sales is 1,160.

Of those sales, 280 were in the condominium property class, while 922 were in the residential property class.

“Not much has changed in the Ottawa resale housing market since last month. Sales remain slightly above average, prices continue to appreciate at a moderate rate, and homes are taking about the same amount of time to sell,” said Board President Joanne Tibbles. “The stability and affordability of our housing market, coupled with low interest rates, is still appealing for investors and for home buyers who want to make Ottawa the best place to call home,” she added.

The average sale price of residential properties, including condominiums, sold in September in the Ottawa area was $335,765, an increase of 3.4 per cent over September 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.