A total of 809 residential homes were sold in October 2011, which is very close to the number of homes sold in 2010.

The average sale price of a home in Ottawa in October was $362,341 which is up 3.5% over last year.

Condominium sales were up 14.5 % over 2010 as 253 Ottawa condos were sold, however, the average price of those condos was $259,316.  This represented a decrease of 1.5% over last year.

It is interesting to note, however, that condos are enjoying an increasing popularity in the Ottawa housing market, with residential real estate holding its own.

Ottawa real estate agents sold 1,329 home in August, which is an increase of almost 21% over August of 2010 (1,099 homes were sold).

The 1,329 homes that were sold can be further divided up as follows:

• 1,044 residential homes, and
• 285 condominiums in the Ottawa area.

The average sale price of a home in Ottawa was $337,372, which includes both residential and condominium units.

The average sale of a residential unit in August was $360,405. which represents an increase of 6.3% over August of 2010.

The average sale of a condominium unit in August was $252,999, which is 3.1% higher than condos sold a year ago.

Board President, Joann Tibbles notes that home were on the market longer in August than they were in July, but attributes that to the low interest rate leading to more buyers and, therefore, a longer selling time.

For more information on Ottawa’s changing housing market, contact one of our professional sales representatives at 613-288-0090.

The July Ottawa real estate market is up 18.8% over last year in sales.  Real estate agents in the Ottawa area sold 1,326 homes in July compared to 1,116 last year, according to the Ottawa Real Estate Board website.

Of the 1,326 homes sold in July, 306 were condominiums, while 1,019 were sales of residential homes.

The Board quotes President-Elect Ansel Clarke as saying, “What a difference a year makes. Last summer the real estate market was reeling from the implementation of the HST that saw many buyers and sellers move up their purchases to the winter and early spring. 2011 is a different story, one that looks a lot more like the average year for Ottawa’s resale housing market.”

The average sale price in July was $341,330, which is an increase over 2010 by 6.2%.

For a more detailed analysis of the July statistics, visit our Ottawa real estate website or contact one of our professional sales representatives at 613-288-0090.

1232 homes were sold in Ottawa during the month of March, as compared with 1495 during March 2010.  This represents a decrease of 17.6 percent.

The 1232 Ottawa homes that were sold consisted of 296 Ottawa area condominiums and 936 Ottawa residential homes.

Ottawa Real Estate Board Joanne Tibbles explains this decrease as a result of factors such as the introduction of the HST that affected the 2010 sales.  “Years in which there are unusual market forces, such as the HST in 2010, tend to create skewwed comparisons with subsequent years.  Ottawa’s housing market is ticking along much as it usually does in early Spring,” said Tibbles.  The five-year average of Ottawa home sales in March is 1256.

With respect to Ottawa area condos, the average sale price of the 296 condos that were sold was $253,763, which represents an increase of 6.5% over 2010.

The average sale price of an Ottawa residential unit was $375,364, which was an increase of 5.6% over the same period last year.

For more details on today’s housing market statistics, visit our Ottawa real estate website at http://www.ottawaproperties.com or call one of our experienced, professional Sales Representatives at 613-288-0090.

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.

January 2011 Statistics

January 2011 Ottawa home sale statistics

The number of homes sold in January 2011 is slightly down from the same period last year.  675 residential homes were sold in Ottawa during the month of January, compared to 719 in January 2010. Of those Ottawa homes that were sold this January, 135 of those were Ottawa condos, while 540 were residential homes.

The average sale price for both residential and condominium combined was $329,657, which is an increase of 3% over January 2010.

Ottawa residential home sales for January 2011

The average sale price of a residential home in Ottawa for January 2011 was $353,055.  This represents an increase of approximately 4.7% over the sale of residential homes in Ottawa for the January 2010 period.

Ottawa condominium sales for January 2011

Condominiums in the Ottawa area sold at slightly lower prices (on average) as compared to the same period in 2010.  The average sale price for an Ottawa condo in January 2011 was $236,065, which is a decrease of 8.7% over last year.

2010 Statistics

2010 Ottawa home sale statistics

In 2010, Realtors in the Ottawa real estate board sold a total of 14,199 residential homes.  This is decrease over the number of Ottawa homes sold in 2009 of approximately 3.6%. 

As far as Ottawa home prices go, the average price of a home sold in 2010 was $327,225, which is an increase over the average home sale price in 2009 of approximately 7.7%.

For more information on Ottawa home statistics and what you can expect to receive on the sale of your Ottawa area home, contact Ray Otten or one of our professional Sales Representatives at 613-288-0090 or email mail@ottawaproperteis.com

We will be happy to answer any of your questions.

A Conference Board economist stated in a recent article for the Ottawa Business Journal that the Ottawa real estate market will be “pretty decent”.

These comments came after the Board’s October resale index was released, showing that the average housing price increase of 3% was just below the rate of inflation, which was 3.3% in October.

The index also showed that for every 1,000 homes listed for sale, 570 were sold in October.  This represents a sales to new listing ratio of 0.570.  A balanced market range is defined as anywhere between 0.393 and 0.709.

For more information on this trend, read the entire Ottawa Business Journal article on the stability of the Ottawa housing market.

For more up to date market statistics, visit our Ottawa real estate website or contact one of our Ottawa Sales Representatives at 613-288-0090.

Here is a recent news article regarding Canada’s condominium market:

http://www.vancouversun.com/business/Condominium+market+Canada+heating/3757559/story.html

In a nutshell, the condominium market is up across many of Canada’s large markets such as Ottawa, Toronto and Vancouver.  In Ottawa, the condo market is up 11.9%  The actual average condo price in Ottawa is up, however, still an average of $100,000 less expensive that owning a single family home, making it a more realistic alternative for first-time home buyers.

If you are also thinking of owning a condo in the Ottawa area, check out:

http://www.condohotline.com/ottawa

Here you will find information on many of Ottawa’s condominium complexes including condo fees, lists of amenities, previously sold units and current units listed for sale.

If you have any questions regarding buying or selling an Ottawa area condo, contact us via our Ottawa real estate website, or by calling one of our Ottawa sales representatives at 613-288-2455.

Have a great day!

Hi everyone!  Hope you had a fabulous Canada Day.  The weather on the weekend was certainly hard to beat! 

So, the Ottawa real estate market is improving each month over last year.  Take a look at the number of houses listed for sale during the first part of 2010 as compared to 2009.  The year got off to a slow start but is now making up for lost time.

January
997 listings in 2009
787 listings in 2010

February
1095 listings in 2009
1054 listings in 2010

March
1483 listings in 2009
1531 listings in 2010

April
1549 listings in 2009
1676 listings in 2010

May
1414 listings in 2009
1585 listings in 2010

May of 2010 saw a 12% increase in listings over 2009.  What does this mean for you?  If you are looking to buy a home in the Ottawa area, it means that there are more homes on the market now than there were during the same time period last year.  Stay tuned for more market statistics as the summer unfolds.

To find out more about homes that are currently listed for sale in your area, contact one of our Sales Representatives at 613-288-2455.

Did you know that detached 1 1/2 storey homes in Nepean sold, on average, for over 100% of their asking price in 2009?  Or that Nepean attached row bungalows sold, on average, in only 15 days in 2009?

If you live in Nepean and are thinking about selling your home, we have very detailed statistics about every major type of home that sold in the area of Nepean in 2009 on our real estate website.  The information we have compiled consists of:

• Nepean property type
• number of Nepan homes of each property type sold in 2009
• minimum listing and sale prices
• maximum listing and sale prices
• average listing and sale prices
• average sale to listing price ratio, and
• average number of days on market for each Nepean home type

Why not check out our statistics and see how your Nepean home stacks up?  Maybe now is the perfect time for you to sell your Nepean home, based on the average sale price in 2009.

If you are considering buying a home in the Nepean area, our detailed Nepean home statistics can help you choose a style of home that will fit your budget.

For more information on  buying or selling a home in the Nepean area, or ANY area in Ottawa, ask us a question online, or call 613-288-2455 to speak to one of our Ottawa Sales Representatives today!