From the blog...

Ottawa Market Update for June, 2013

Posted on: July 4th, 2013 by Chris Scott

Members of the Ottawa Real Estate Board sold 1,594 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,662 in June 2012, a decrease of 4.1 per cent. Throughout the years, overall sales have consistently decreased from May to June so this is “normal” for the time of year.

June’s sales included 314 in the condominium property class, and 1,280 in the residential property class. The condo market has dipped slightly below average. The five-year average for June condo sales is 368 – putting June in at 17 per cent lower than the average. Residential units sold, without looking at condo sales, have decreased year to year only one per cent. Inventory on hand had been building up since the beginning of the year, but we’re now starting to see a small decrease, which will bring the Ottawa market into an even more balanced buyer/seller situation.

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $359,232, an increase of 1.9 per cent over June 2012. The average sale price for a condominium-class property was $265,410, a decrease of 4.3 per cent over June 2012. The average sale price of a residential-class property was $382,248, an increase of 2.2 per cent over June 2012.

Every area is slightly different.  If you would like to know what your home might be worth on today’s market, give me a call.


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