Strong July puts real estate market on par with 2013

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Ottawa real estate sales jumped in July, putting sales so far this year on par with 2013 despite a slow start.

The Ottawa Real Estate Board sold 1,445 existing homes and condos in the month, an 8.2-per-cent rise over the 1,336 sales in July 2013.

Board president Randy Oickle said the month was the second strongest July on record, trailing only the 1,578 sales of July 2009.

“This year is shaping up to be another strong and stable year for the Ottawa market, despite the lacklustre sales in the first few months,” Oickle said in a release.

The average sale price of all properties declined 0.8. per cent to $356,735, a drop Oickle attributed to six fewer sales of properties in the $1-million range in July compared with a year earlier.

For the first seven months of 2014, the average price is up 1.1 per cent to $364,966.

The July sales boost was driven by single, semi-detached and freehold homes. Condominium sales fell 3.3 per cent in July with the average condo price dropping 5.3 per cent to $261,663.

The figures are drawn from the board’s Multiple Listing Service and do not include private transactions or other forms of real estate sales.

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