Excerpt from The Ottawa Citizen - - Nov 3rd 2011
Housing sales were down 12.9 per cent in Ottawa in October, compared with the same month last year.
The Ottawa Real Estate Board said Tuesday that 1,042 residential properties were sold, compared with 1,197 in October, 2009. “Six months ago we were in a strong seller’s market, now we have moved into a more balanced market position,’’ said immediate past-president Rick Snell. “Some properties are still receiving multiple offers but this is happening much less often than was the case in the spring.’’
Housing sales were down 12.9 per cent in Ottawa in October, compared with the same month last year.
The Ottawa Real Estate Board said Tuesday that 1,042 residential properties were sold, compared with 1,197 in October, 2009. “Six months ago we were in a strong seller’s market, now we have moved into a more balanced market position,’’ said immediate past-president Rick Snell. “Some properties are still receiving multiple offers but this is happening much less often than was the case in the spring.’’
Year to date, the number of properties that have been sold has declined two per cent compared to the same period last year, which was a record-setting year.
The average sale price of residential properties, including condos, was $340,719, an increase of 6.8 per cent.
The average condo price was $263,292, up 13.4 per cent.
An average residential property, excluding condos, was $361,560, an increase of five per cent.
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