October resales comparative to five-year average
Ottawa, November 5, 2013 - Members of the Ottawa Real Estate Board sold 1,090 residential properties in
October through the Board’s Multiple Listing Service® system, compared with 1,069 in October 2012, an increase
of two per cent. The five-year average for October sales is 1,091.
“Resale units sold in October are right on par compared to the five-year average,” says Ansel Clarke, Past
President of the Ottawa Real Estate Board. “This is a welcome change from the first half of 2013, where
we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average
prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market.”
October’s sales included 211 in the condominium property class, and 879 in the residential property class.
The condominium property class includes any property, regardless of style (i.e. detached, semi-detached,
apartment, townhouse, etc.), which is registered as a condominium, as well as properties which are co-operatives,
life leases and timeshares. The residential property class includes all other residential properties.
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was
$360,085, an increase of 4.1 per cent over October 2012. The average sale price for a condominium-class
property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price of a residential-class
property was $381,580, an increase of 3.5 per cent over October 2012. 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.
“Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home. We do the homework so
you don’t have to.” Visit wedothehomework.ca for more information on working with a REALTOR®.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in
the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.