From the blog...

Ottawa Market Update for 2012

Posted on: January 5th, 2013 by Chris Scott

Happy New Year Everyone!

We are fortunate to live and work in a city with a stable real estate market. While the number of residential units sold in December 2012 (618) through the Board’s Multiple Listing Service® system was lower than units sold in December 2011 (695), we are still on track to the five-year average for December sales (617).

The total number of homes sold through the Boards MLS® system in 2012 was 14,308, slightly down from the 14,389 homes sold in 2011 but still above the five-year average of 14,274. The overall average sale price for 2012 was $351,792, an increase of 2.3 per cent over 2011.

When we look back at 2012, home sales took off in the first half compared to the same period for 2011, but with the tighter mortgage rules introduced in July and potential government layoffs, the market cooled for the second half of the year.  Ottawa remains steady and balanced, without some of the large fluctuations in resale activity you see in other Canadian markets.

The average sale price of all residential properties sold in December in the Ottawa area was $336,591, an increase of 1.3 per cent over December 2011. The average sale price for a condominium-class property was $258,498, a decrease of 1.5 per cent over December 2011. The average sale price of a residential-class property was $358,211, an increase of 0.6 per cent over December 2011.   Each neighbourhood can be different so please give me a shout if you are curious to know what your home might be worth on today’s market (or maybe even the home down the street!).

Referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move. I’d be delighted to have the opportunity to provide them with my real estate services.


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