According to a report released today by the Ottawa Real Estate Board, home sales in November of this year are on par with sales in the same period of 2012. November was a “slower than average” month for the resale market in Ottawa, with 891 residential properties sold through the Board’s Multiple Listing Service (MLS). This is a decrease of 4% compared to November of 2012, during which time 928 residential properties were sold through MLS.
Tim Lee, President of the Ottawa Real Estate Board, notes that residential sales, excluding condos, were “only down by 5 units compared to this time last year.” Of the 891 sales in November of this year, 174 were in the condominium class, which consists of all properties registered as condominiums, and 717 were in the residential property class, which is made up of all other residential property types.
November 2013 saw a slight increase in home prices over the same month of last year, with the average sale price up 1.9% to $356,675. The average price for the residential property class saw an increase of 1.2% to $380,593, while the average price for the condominium class was $258,118, which was the same as the average price in November 2012.
Despite market fluctuations, Lee adds that “the Ottawa market remains in stable territory.” You can read the full report below, or read more on the Ottawa Real Estate Board website.
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