Ottawa new home sales plunge 55.1% in October

[yycivang]

New home sales plunged 55.1 per cent in October as potential homebuyers worried about the global economic crisis and the outcome of the federal election.Only 267 single-family, semi-detached and townhouse units were sold across the Ottawa region compared to 595 units a year earlier, according to the Greater Ottawa Homebuilders Association report prepared by the Corporate Research Group.

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The Ottawa Citizen
Published: Tuesday, July 08, 2008
The average price of a home in Ottawa is inching closer to $300,000.

According to the Ottawa Real Estate Board, the average price of residential properties, including condominiums, was $298,484 last month, an increase of seven per cent over June 2007.

source: Ottawa citizen.
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November 4, 2008 : Resale housing market eases in October; average sale price increases

Members of the Ottawa Real Estate Board sold 961 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,094 in October 2007, a decrease of 12.2 per cent. There were 1,206 sales in September 2008.

The average price of residential properties, including condominiums, sold in October in the Ottawa area was $280,470,

source: Ottawa real estate board.

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A drop of 6% since June 2008, in 4 months.


Ottawa new home sales plunge 55.1% in October

 

[他山之石]

The prices in resale market are higher.

"Some of the potential new house buyers may have shifted their attention to the resale market in September rather than sat on the fence.

Sales rose 6.1 per cent to 1,208 sales, thanks to sales of two-storey houses. With inventories of unsold houses growing, sellers of other housing classes generally had to compromise in setting prices. Average prices of bungalows and condominium townhouses declined between August and September though they were still about four per cent higher than a year earlier.

However, two-storey house prices rose between the two months and were 5.1 per cent higher than a year earlier."