Ottawa,
May 3, 2012 -Members
of the Ottawa Real Estate Board sold 1,568 residential
properties in April through the Board’s Multiple Listing
Service® system, compared with 1,530 in April 2011, an
increase of 2.5 per cent.
April’s
sales included 300 in the condominium property class, and
1,268 in the residential property class. The condominium
property class includes any property, regardless of style
(i.e. detached, semi-detached, apartment, stacked 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.
“Sales
in April indicate a steady Ottawa market as we sail through
spring,” remarks Ansel Clarke, President of the Ottawa Real
Estate Board. “Re-sale housing inventory is up by 6.9 per cent
since last year, and interest rates continue to be low,
indicating that Ottawa remains in a healthy, stable
market.”
The
average sale price of residential properties, including
condominiums, sold in April in the Ottawa area was $364,077,
an increase of 3.7 per cent over April 2011. The average sale
price for a condominium-class property was $272,851, an
increase of 6.7 per cent over April 2011. The average sale
price of a residential-class property was $385,660, an
increase of 2.6 per cent over April 2011. 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.
The Ottawa Real Estate Board is an
industry association of 2,765 sales representatives and
brokers in the Ottawa area, and in 2011 is celebrating 90
years of service to its members. Members of the Board are also
members of the Canadian Real Estate Association
.
