Ottawa home sales remain above average
The number of home sales in the Ottawa market in May was largely unchanged from a year earlier. There were 1,921 sales thorough the MLS of the Ottawa Real Estate Board, slightly below the 1,926 sold in May 2015 but remaining above the 5-year average of 1,864. Month-over-month there was an increase of 207 properties sold and the average sale prices edged higher; for residential class properties there was a 0.6 per cent rise to $406,063; for condominium class there was a 1.5 per cent rise to $264,801. “In May, 3,635 homes were listed, keeping pace with listing numbers in April, but down slightly by 4.4 per cent compared to May 2015,” said OREB president Shane Silva. “With the number of sales since the beginning of the year on a steady incline, coupled with increased inventory, Ottawa is riding a strong and steady spring market.”
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Source: Canadian Real Estate Wealth, Steve Randall, 9 June 2016