From the blog...

Ottawa Market Update for May 2012

The real estate market in the Ottawa area continues to be a healthy one!  When you look at the statistics year over year, the increase in sales is significant.  When you add to this an increased inventory and gradual price increases,  you have all indications of a continued strong, steady market.

Members of the Ottawa Real Estate Board sold 1,896 residential properties in May through the Board’s Multiple Listing Service® system, compared with 1,659 in May 2011, an increase of 14.3 per cent. May’s sales included 364 in the condominium property class, and 1,532 in the residential property class.

The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $362,837, an increase of 3.2 per cent over May 2011. The average sale price for a condominium-class property was $268,831, an increase of 2.5 per cent over May 2011. The average sale price of a residential-class property was $385,172, an increase of 2.1 per cent over May 2011.

If you have any questions about the market or would like to know what’s happening in your own neighbourhood, please contact me. 

Chris