From the blog...
Ottawa Market Update for August, 2013
Summer is over and kids are back at school. Before you know it, the holiday season will be here.
Members of the Ottawa Real Estate Board sold 1,219 residential properties in August through the Boards Multiple Listing Service® system, compared with 1,145 in August 2012, an increase of 6.5 per cent. The five-year average for August sales is 1,202. Both residential and condo unit sales have increased since last year, breaking the downward trend. Inventory has decreased over last month and is starting to return to more normal levels.
The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $348,519, a slight increase of 0.4 per cent over August 2012. The average sale price for a condominium-class property was $257,494, a decrease of 5.4 per cent over August 2012. The average sale price of a residential-class property was $374,663, an increase of 1.8 per cent over August 2012. There can be significant differences from one neighbourhood to another so if you would like to see what is happening in your neighbourhood, give me a call.
Ottawa continues to be a healthy, balanced market. We are all very lucky to live here.
Chris