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Ottawa Market Update for February 2014

Posted on: March 5th, 2014 by Chris Scott

I think we are all wondering if Spring will ever come or even more– if Winter will ever end!

Members of the Ottawa Real Estate Board sold 870 residential properties in February through the Board’s Multiple Listing Service® system, compared with 903 in February 2013, a decrease of 3.7 per cent.

This year over year decrease in sales is perhaps due to the unusually cold weather or the distraction of the Olympics, but sales ARE up on a month-to-month basis. The market has picked up as we approach the busiest time of the year – 282 more homes were sold in February, over January.”  February’s sales included 197 in the condominium property class, and 673 in the residential property class.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $353,407, an increase of two per cent over February 2013. The average sale price for a condominium-class property was $257,752, a decrease of 2.3 per cent over February 2013. The average sale price of a residential-class property was $381,407, an increase of 2.1 per cent over February 2013.   Each area, however, has differences so if you are interested in what your property might be worth on today’s market, give me a call.


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