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Ottawa home shoppers voted with their wallets in October.
Despite predictions of a real estate slowdown as a cautious capital waited to see the makeup of a new government after Oct. 19, sales of existing houses in the month rose by nearly four per cent from October 2014, the Ottawa Real Estate Board reported.
“Buyer activity was expected to taper off leading up to the federal election,” said board president David Oikle in a release, “but it didn’t seem to affect our overall performance by very much.”
A 4.1-per-cent jump in the sales of condominiums, a slow category for several years, helped drive the increase. The board said 202 condos and 959 other homes were sold through its Multiple Listing Service in October for an overall increase of 3.8 per cent.
For the first 10 months of 2015, sales are up 4.7 per cent, the board said. Condo sales over that period are down 0.5 per cent, but sales of other homes are up 5.9 per cent.
The average sale price for condos in the first 10 months was $258,995, a drop of 1.9 per cent from 2014. For other housing classes the average price rose 1.8 per cent to $393,078.
The board’s figures do not include private transactions or other non-MLS sales.
Oikle said the number of unsold homes continued to slide in October, “bringing us back into balanced territory” from the buyers’ market of last spring. The number of days on market for listings slipped to 86 from 93.
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Despite predictions of a real estate slowdown as a cautious capital waited to see the makeup of a new government after Oct. 19, sales of existing houses in the month rose by nearly four per cent from October 2014, the Ottawa Real Estate Board reported.
“Buyer activity was expected to taper off leading up to the federal election,” said board president David Oikle in a release, “but it didn’t seem to affect our overall performance by very much.”
A 4.1-per-cent jump in the sales of condominiums, a slow category for several years, helped drive the increase. The board said 202 condos and 959 other homes were sold through its Multiple Listing Service in October for an overall increase of 3.8 per cent.
For the first 10 months of 2015, sales are up 4.7 per cent, the board said. Condo sales over that period are down 0.5 per cent, but sales of other homes are up 5.9 per cent.
The average sale price for condos in the first 10 months was $258,995, a drop of 1.9 per cent from 2014. For other housing classes the average price rose 1.8 per cent to $393,078.
The board’s figures do not include private transactions or other non-MLS sales.
Oikle said the number of unsold homes continued to slide in October, “bringing us back into balanced territory” from the buyers’ market of last spring. The number of days on market for listings slipped to 86 from 93.
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