According to the Ottawa Real Estate Board just over 1,000 residential properties were sold in October, and increase of 2.3%. The breakdown is as follows: 253 condominiums and 809 residences. Condos include, but are not exclusive to detached, semi-detached, apartment, stacked as well as properties, which are co-operatives, life leases and timeshares. Residential property includes all other residential properties.
According to Board President Joanne Tibbles “Condos were the main driver of resale home sales in October, with condo sales up 14.5 per cent from the same month in 2010, whereas residential property sales numbers were near-identical to last year’s.” The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $337,797, an increase of 2 per cent over October 2010. The average sale price for a condominium-class property was $259,316, a decrease of 1.5 per cent over October 2010. The average sale price of a residential-class property was $362,341, an increase of 3.7 per cent over October 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.
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