Ottawa, February 3, 2011 - Members of the Ottawa Real Estate Board sold 675 residential properties in January through the Board’s Multiple Listing Service® (MLS®) system compared with 719 in January 2010, a decrease of 6.1%.
Of those sales, 135 were in the condominium property class, while 540 were in the residential property class. The condominium property class includes any property, regardless of style (i.e., detached, semi-detached, apartment, stacked etc.) that 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.
“These are normal sales numbers for January in Ottawa – the average number of sales for the previous five Januaries was 662, so we’re even a little ahead of that, and prices continued to rise incrementally. Winter is usually a quieter time of year in the resale market and 2011 appears to be no exception,” said Board President Joanne Tibbles. “Our market remains balanced, with no significant advantage towards either buyers or sellers, so it’s fair game for everyone,” she added.
The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $329,657, an increase of 3% over January 2010. The average sale price for a condominium-class property was $236,065, a decrease of 8.7% over January 2010. The average sale price of a residential-class property was $353,055, an increase of 4% over January 2010.