According to the Ottawa Real Estate Board, resale homes sold more quickly during the month of February.

A total of 936 homes were sold in February, which represents a reduction of 9.1% over the 1030 homes that were sold in February 2010.  It is, however, very close to the 5 year average of 962 homes.  Also, these homes sold in an average of just 33 days, which is quicker than in January.

“Once again we’re seeing sales numbers very close to the five-year average for February, which is 962 sales. It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa,” said Board President Joanne Tibbles. “This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it, perhaps even going up against other bidders,” Tibbles added.

Of the 936 sales in February, 213 were condos, while 723 were Ottawa residential homes.  The average sale price of the 213 condos in Ottawa was $260,112, while the average sale price of a residential unit was $361,475.  Both of these amounts are up over 6% from the same period in 2010.

For more up-to-date statistics, contact our Ottawa real estate team at 613-288-0090.  Visit our Ottawa real estate website to see photos and videos of our hottest Ottawa listings.