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Flat Rate Realty Ottawa: Low, Discount Commission Real Estate Fees
January
5, 2012
Members of the Ottawa Real Estate
Board sold 699 residential properties in December through the
Board’s Multiple Listing Service® system compared with 618 in
December 2010, an increase of 13.1 per cent. The five-year average
for December sales is 611. The total number of homes sold through
the Board’s MLS® system in 2011 was 14,412, an increase of 1.7 per
cent over 2010. The average price for 2011 was $343,701, an increase
of 5.2 per cent over 2010. Source: Ottawa Real Estate Board
December 5, 2011 Members of the Ottawa
Real Estate Board sold 1,020 residential properties in November
through the Board’s Multiple Listing Service® system compared with
940 in November 2010, an increase of 8.5 per cent. The five-year
average for November sales is 881. Source: Ottawa Real Estate Board November 3, 2011 Members of the Ottawa Real Estate Board sold 1,062 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,038 in October 2010, an increase of 2.3 per cent. The five-year average for October sales is 1,071. Of those sales, 253 were in the condominium property class, while 809 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which 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. “Condos were the main driver of resale home sales in October, with condo sales up 14.5 per cent from the same month in 2010, whereas residential property sales numbers were near-identical to last year’s,” said Board President Joanne Tibbles. “We’ve been hearing a lot about the rising popularity of condos in Ottawa and these numbers certainly support that, but it’s just one piece of our steady resale market, with sales very near the five-year average for October. Also, listing inventory and days on market are both up slightly as we move towards the end of the year,” she added. The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $337,797, an increase of 2 per cent over October 2010. The average sale price for a condominium-class property was $259,316, a decrease of 1.5 per cent over October 2010. The average sale price of a residential-class property was $362,341, an increase of 3.7 per cent over October 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board October 5, 2011 Members of the Ottawa
Real Estate Board sold 1,202 residential properties in September
through the Board’s Multiple Listing Service® system compared with
1,071 in September 2010, an increase of 12.2 per cent. The five-year
average for September sales is 1,160. Source: Ottawa Real Estate Board September 6, 2011 Members of the Ottawa
Real Estate Board sold 1,329 residential properties in August
through the Board’s Multiple Listing Service® system compared with
1,099 in August 2010, an increase of 20.9 per cent. The five-year
average for August sales is 1,225. Source: Ottawa Real Estate Board June 3, 2011 Members of the Ottawa
Real Estate Board sold 1,659 residential properties in May through
the Board’s Multiple Listing Service® system compared with 1,686 in
May 2010, a decrease of 1.6 per cent. Source: Ottawa Real Estate Board May 4, 2011 Members of the Ottawa Real Estate Board sold 1,536 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,814 in April 2010, a decrease of 15.3 per cent. The five-year average for home sales in April is 1,612. Of those sales, 316 were in the condominium property class, while 1,220 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which 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. “Sales in April 2010 soared well above average in advance of the implementation of the Harmonized Sales Tax in Ontario last July. Normally in Ottawa, we see a brisker sales period beginning at the end of April or early May, but last year’s spring market started earlier by about three months due to the HST. That surge in sales pushed April’s five-year average up significantly; it’s not out of the ordinary for about 1,500 homes to be sold in April in our market,” said Board President Joanne Tibbles. “Home prices still continued to rise at the usual moderate rate last month, demonstrating a solid demand for resale homes in Ottawa. Re-sale housing inventory is up 17.2 per cent from this time last year, indicating that Ottawa is clearly in a healthy, balanced market,” Tibbles added. The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $351,226, an increase of 5.4 per cent over April 2010. The average sale price for a condominium-class property was $255,232, an increase of 2.1 per cent over April 2010. The average sale price of a residential-class property was $376,090, an increase of 5.4 per cent over April 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board April 5, 2011 Members of the Ottawa Real Estate Board sold 1,232 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,495 in March 2010, a decrease of 17.6per cent. The five-year average for home sales in March is 1,256. Of those sales, 296 were in the condominium property class, while 936 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “As you can see, last month was an extremely average one in terms of resale home sales, in a way that 2010 was certainly not. The effects of the introduction of the Harmonized Sales Tax in July were already being felt in March as buyers leapt into the market to try to avoid taxes on the services associated with a real estate transaction,” said Board President Joanne Tibbles. “Years in which there are unusual market forces, such as the HST in 2010, tend to create skewed comparisons with subsequent years. Ottawa’s housing market is ticking along much as it usually does in early spring,” Tibbles added. The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $346,148, an increase of 4.9 per cent over March 2010. The average sale price for a condominium-class property was $253,763, an increase of 6.5 per cent over March 2010. The average sale price of a residential-class property was $375,364, an increase of 5.6 per cent over March 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board March 3, 2011 Members of the Ottawa Real Estate Board sold 936 residential properties in February through the Board’s Multiple Listing Service® system compared with 1,030 in February 2010, a decrease of 9.1 per cent. Of those sales, 213 were in the condominium property class, while 723 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Once again we’re seeing sales numbers very close to the five-year average for February, which is 962 sales. It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa,” said Board President Joanne Tibbles. “This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it, perhaps even going up against other bidders,” Tibbles added. The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $338,408, an increase of 6.7 per cent over February 2010. The average sale price for a condominium-class property was $260,112, an increase of 6 per cent over February 2010. The average sale price of a residential-class property was $361,475, an increase of 6.9 per cent over February 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board
Members of the Ottawa Real Estate Board sold 675 residential properties in January through the Board’s Multiple Listing Service® system compared with 719 in January 2010, a decrease of 6.1 per cent. 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.) which 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 per cent over January 2010. The average sale price for a condominium-class property was $236,065, a decrease of 8.7 per cent over January 2010. The average sale price of a residential-class property was $353,055, an increase of 4.7 per cent over January 2010. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board January 6, 2011 Members of the Ottawa Real Estate Board sold 620 residential properties in December through the Board’s Multiple Listing Service® system compared with 687 in December 2009, a decrease of 9.8 per cent. The total number of residential properties sold through the Board’s Multiple Listing Service® system in 2010 was 14,199, down 3.6 per cent from 2009. The average price for 2010 was $327,225, an increase of 7.7 per cent over 2009. Of December’s sales, 192 were in the condominium property class, while 428 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “2010 was an interesting year because of the introduction of HST. This, and changes to mortgage regulations affected spring and summer home sales, pushing many buyers and sellers into the market earlier in the year,” said Board President Joanne Tibbles. “However, we see from these numbers how stable Ottawa’s housing market remained, partly due to our diversified employment base that continues to weather unstable economic conditions with relative ease. Sales may have declined from what was, in fact, a record year in 2009, but prices have continued to rise at a healthy rate, demonstrating continued demand for resale housing in Ottawa,” she added. The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $324,556, an increase of 5.6 per cent over December 2009. The average sale price for a condominium-class property was $254,776, an increase of 3.5 per cent over December 2009. The average sale price of a residential-class property was $355,860, an increase of 7.8 per cent over December 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board December 3, 2010
Source: Ottawa Real Estate Board November 2, 2010 Members of the Ottawa Real Estate Board sold 1,042 residential properties in October through the Board’s Multiple Listing Service® system compared with 1,197 in October 2009, a decrease of 12.9 per cent. Year to date, the number of properties sold has declined 2% compared to the same period last year, a record setting year. Of those sales, 221 were in the condominium property class, while 821 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “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.” The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $340,719, an increase of 6.8 per cent over October 2009. The average sale price for a condominium-class property was $263,292, an increase of 13.4 per cent over October 2009. The average sale price of a residential-class property was $361,560, an increase of 5 per cent over October 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board October 5, 2010 Members of the Ottawa Real Estate Board sold 1,074 residential properties in September through the Board’s Multiple Listing Service® system compared with 1,218 in September 2009, a decrease of 11.8 per cent. Of those sales, 240 were in the condominium property class, while 834 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “After record-breaking sales in September of 2009, this year’s sales were closer to the five-year average for this time of year. Home prices continued to appreciate but not skyrocket, as they generally do in Ottawa. I would describe the current state of the housing market in our region as balanced, with a good supply of homes available for sale,” said Immediate Past President Rick Snell. The average sale price of residential properties, including condominiums, sold in September in the Ottawa area was $324,745, an increase of 6.6 per cent over September 2009. The average sale price for a condominium-class property was $240,050, a decrease of 0.8 per cent over September 2009. The average sale price of a residential-class property was $349,117, an increase of 8.2 per cent over September 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board September 3, 2010 After an HST- influenced dip in sales in July, August saw a return to a more normal number of sales. Members of the Ottawa Real Estate Board sold 1,122 residential properties in August through the Board’s Multiple Listing Service® system compared with 1,211 in August 2009, a decrease of 7.3 per cent. Of those sales, 266 were in the condominium property class, while 856 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “The number of sales year-to-date is slightly ahead of last year’s sales for the same period, and last year’s sales volume was the highest ever. This shows the stability of the Ottawa Real Estate Market. ” said Immediate Past President Rick Snell. “The market is in a balanced position in relation to the number of homes for sale and the demand for properties. This is a good market for both buyers and sellers. I expect to see a normal fall market with longer selling times and stable prices,” he added. The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $321,969, an increase of 2.1 per cent over August 2009. The average sale price for a condominium-class property was $262,999, an increase of 16.8 per cent over August 2009. The average sale price of a residential-class property was $340,294, an increase of 0.1 per cent over August 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board July 6, 2010 Members of the Ottawa Real Estate Board sold 1,615 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,897 in June 2009, a decrease of 14.9 per cent. Of those sales, 418 were in the condominium property class, while 1,197 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “For the first time in 2010, inventory increased year-over-year in June, by almost six per cent. The Ottawa housing market is now moving towards balance, rather than the seller’s market we have been in for most of the past year,” said Board President Pierre de Varennes. “Sales last month were very close to the five-year average for June, so what we see here is a return to the stable, steady market conditions that Ottawa tends to experience. Home sale prices continued to grow at a healthy rate in June,” he added. The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $326,572, an increase of 6.4 per cent over June 2009. The average sale price for a condominium-class property was $256,969, an increase of 8.3 per cent over June 2009. The average sale price of a residential-class property was $350,878, an increase of 7.4 per cent over June 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board June 3, 2010 Members of the Ottawa Real Estate Board sold 1,694 residential properties in May through the Board’s Multiple Listing Service® system compared with 1,967 in May 2009, a decrease of 13.9 per cent. Of those sales, 353 were in the condominium property class, while 1,341 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Many of the sales that would normally have occurred in May were pulled back to April, due to buyers trying to avoid the May 1st transitional implementation date for the HST, as well as new mortgage regulations that came into effect April 19,” said Board President Pierre de Varennes. “Buyers knew they would be paying eight per cent more for all of the service costs associated with a real estate transaction if their closing date was after July 1, and that it might be more difficult to qualify for financing, so they moved quickly to avoid either situation. In addition, by comparison May 2009 was a record-breaking month as the floodgates opened on pent-up demand following the brief downturn in the market,” he added. The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $333,408, an increase of 6.9 per cent over May 2009. The average sale price for a condominium-class property was $246,116, an increase of 6.4 per cent over May 2009. The average sale price of a residential-class property was $356,387, an increase of 8.3 per cent over May 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board May 5, 2010 Members of the Ottawa Real Estate Board sold 1,841 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,591 in April 2009, an increase of 15.7 per cent. Of those sales, 425 were in the condominium property class, while 1,416 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Last month’s sales blew away the record for April, which is always one of the busiest months of the year for our market,” said Board President Pierre de Varennes. “The increased sales activity may be partially due to buyers trying to avoid the impending HST and the mortgage changes that came into effect on April 19, but also demonstrates that consumers feel confident about our local economy,” he added. The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $332,979, an increase of 11.6 per cent over April 2009. The average sale price for a condominium-class property was $254,220, an increase of 17.4 per cent over April 2009. The average sale price of a residential-class property was $356,617, an increase of 11.7 per cent over April 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board
April 7, 2010 Members of the Ottawa Real Estate Board sold 1,499 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,161 in March 2009, an increase of 29.1 per cent. Of those sales, 327 were in the condominium property class, while 1,172 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March,” said Board President Pierre de Varennes. “Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months,” he added. The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $329,767, an increase of 15 per cent over March 2009. The average sale price for a condominium-class property was $240,409, an increase of 15.1 per cent over March 2009. The average sale price of a residential-class property was $354,698, an increase of 15.1 per cent over March 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board March 5, 2010 Members of the Ottawa Real Estate Board sold 1,118 residential properties in February through the Board’s Multiple Listing Service® system compared with 787 in February 2009, an increase of 42.1 per cent. Of those sales, 323 were in the condominium property class, while 795 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Last month’s sales were near the top of the usual range for this time of year, as opposed to February of 2009, which was the end of the brief slowdown we saw in Ottawa’s resale housing market due to global economic conditions,” said Board President Pierre de Varennes. “So far in 2010, OREB Members have sold 1,838 properties, putting us well ahead of the 1,316 properties sold in the first two months of 2009. Inventory remains low and the homes that are listed are selling quickly, keeping Ottawa in a seller’s market for the moment,” he added. The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $317,030, an increase of 15.8 per cent over February 2009. The average sale price for a condominium-class property was $265,938, an increase of 30.3 per cent over February 2009. The average sale price of a residential-class property was $337,788, an increase of 15.6 per cent over February 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board February 3, 2010 Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent. Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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 numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added. The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board January 6, 2010 Members of the Ottawa Real Estate Board sold 689 residential properties in December through the Board’s Multiple Listing Service® system compared with 467 in December 2008, an increase of 47.5 per cent. This brings the total number of residential properties sold through the Board’s Multiple Listing Service® system in 2009 to 14,742, up 7.4 per cent from 2008 and setting a new record. The previous record of 14,565 sales was set in 2007. The average price for all of 2009 was $303,888, an increase of 4.9 per cent over 2008. Of December’s sales, 185 were in the condominium property class, while 504 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Ottawa’s housing market felt the chill of the global financial crisis last winter, but sales warmed up even before the spring weather arrived, and over the course of the year Ottawa had five record-breaking months of sales. Listing inventory was at a low level throughout 2009, which led to many multiple-offer situations,” said Board President Pierre de Varennes. “Ottawa’s housing market bounced back very strongly from its brief downturn, and we ended the year ahead of the previous annual sales record, which certainly no one expected back in January,” he added. The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $307,807, an increase of 13.1 per cent over December 2008. The average sale price for a condominium-class property was $246,062, an increase of 17.9 per cent over December 2008. The average sale price of a residential-class property was $330,471, an increase of 12.8 per cent over December 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board November 4, 2009 Members of the Ottawa Real Estate Board sold 1,202 residential properties in October through the Board’s Multiple Listing Service® system compared with 964 in October 2008, an increase of 24.7 per cent. Of those sales, 270 were in the condominium property class, while 932 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which 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. “Once again we saw record-setting sales numbers for the month of October. This brings our sales year-to-date to four percentage points higher than the same period last year. Ottawa’s resale market has been buoyed by buyers taking advantage of low interest rates,” said Board President Rick Snell. “Listing inventory remains at a low level, and combined with brisk sales, indicates that we are still in a strong sellers’ market here in the capital,” he added. The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $318,655, an increase of 13.6 per cent over October 2008. The average sale price for a condominium-class property was $232,046, an increase of 14.6 per cent over October 2008. The average sale price of a residential-class property was $343,745, an increase of 13.3 per cent over October 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board October 5, 2009 Members of the Ottawa Real Estate Board sold 1,220 residential properties in September through the Board’s Multiple Listing Service® system compared with 1,204 in September 2008, an increase of 1.3 per cent. Of those sales, 272 were in the condominium property class, while 948 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “September was another record-breaking month for Ottawa resale home sales, capping off a very busy and active summer for Ottawa Real Estate Board members,” said Board President Rick Snell. “Inventory levels rose from last month but remain lower than in September 2008, and that low supply coupled with continued strong demand for resale housing helped nudge selling prices higher,” he added. The average sale price of residential properties, including condominiums, sold in September in the Ottawa area was $304,789, an increase of 5.7 per cent over September 2008. The average sale price for a condominium-class property was $241,458, an increase of 17.3 per cent over September 2008. The average sale price of a residential-class property was $322,960, an increase of 4.1 per cent over September 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board September 3, 2009 Members of the Ottawa Real Estate Board sold 1,216 residential properties in August through the Board’s Multiple Listing Service® system compared with 1,181 in August 2008. This is an increase of 3 per cent. Of those sales, 259 were in the condominium property class, while 957 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “August was another solid month for home sales in Ottawa. With strong sales and a listing inventory that is still very low, the capital remains in a seller’s market position,” said Board President Rick Snell. “Sales year-to-date are now up 2.6% over last year’s sales for the same period, which reflects consumer confidence in the local real estate market.” The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $315,074, an increase of 12.3 per cent over August 2008. The average sale price for a condominium-class property was $225,167, an increase of 5.1 per cent over August 2008. The average sale price of a residential-class property was $339,406, an increase of 13 per cent over August 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board August 10, 2009 Members of the Ottawa Real Estate Board sold 1,577 residential properties in July through the Board’s Multiple Listing Service® system compared with 1,414 in July 2008. This is an increase of 11.5 per cent. Of those sales, 339 were in the condominium property class, while 1,238 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “Ottawa’s resale housing market had another strong month in July, and strong sales in the past few months have brought year-to-date sales to 2.6 per cent higher than in 2008,” said Board President Rick Snell. “High demand combined with a very low listing inventory is creating a very strong seller's market with multiple offers and an increase in prices,” he added. The average sale price
of residential properties, including condominiums, sold in July in
the Ottawa area was $300,016, an increase of 1.7 per cent over July
2008. The average sale price for a condominium-class property was
$216,826, an increase of 2.9 per cent over July 2008. The average
sale price of a residential-class property was $322,795, an increase
of 1.2 per cent over July 2008. The Board cautions that average sale
price information can be useful in establishing trends over time but
should not be used as an indicator that specific properties have
increased or decreased in value. The average sale price is
calculated based on the total dollar volume of all properties sold.
Source: Ottawa Real Estate Board July 6, 2009 Members of the Ottawa Real Estate Board sold 1,895 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,685 in June 2008. This is an increase of 12.5 per cent. Listing inventory is at a very low level, which has led to competitive bidding on many properties. Of those sales, 418 were in the condominium property class, while 1,477 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “This is the third consecutive record setting month this year and the fourth month where sales exceeded the previous year’s sales,” said Board President Rick Snell. “Year-to-date sales as of the end of June are up one per cent over the same time period in 2008. We have seen a strong recovery from the slow start to this year,” he added. The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $306,924, an increase of 3 per cent over June 2008. The average sale price for a condominium-class property was $236,830, an increase of 8.3 per cent over June 2008. The average sale price of a residential-class property was $326,761, an increase of 2.5 per cent over June 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board June 3, 2009
Of those sales, 348 were in the condominium property class, while 1,621 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “This was the best May on record for residential resale home sales in Ottawa,” said Board President Rick Snell. “Homes in every price range are selling well, from starter homes to luxury properties. Homebuyers and sellers are showing a lot of confidence in the Ottawa real estate market,” he added. The average sale price of residential properties, including condominiums, sold in May in the Ottawa area was $312,045, an increase of 5.3 per cent over May 2008. The average sale price for a condominium-class property was $231,351, an increase of 4.6 per cent over May 2008. The average sale price of a residential-class property was $329,368, an increase of 4.7 per cent over May 2008. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board Spring Market in full bloom in Ottawa Members of the Ottawa Real Estate Board sold 1,594 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,560 in April 2008, an increase of 2.2 per cent. There were 1,162 sales in March 2009. Of those sales, 323 were in the condominium property class, while 1,271 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, etc.) which 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. “Spring is historically the busiest time in the Ottawa real estate market, and it is clear that this year is no exception. Out-of-town buyers as well as local buyers are taking advantage of the low interest rates and our stable real estate market,” said Board President Rick Snell. “I’m hearing from Board members that some properties are even attracting multiple offers, which shows me the confidence buyers have in our market,” he added. The average price of residential properties, including condominiums, sold in April in the Ottawa area was $298,150, an increase of 1 per cent over April 2008. The average price for a condominium-class property was $216,502, an increase of 2.8 per cent over April 2008. The average price of a residential-class property was $318,900, an increase of 0.7 per cent over April 2008. The Board cautions that average price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board Dazed and confused? Members of the Ottawa Real Estate Board sold 787 residential properties in February through the Board’s Multiple Listing Service® system compared with 980 in February 2008, a decrease of 19.7 per cent. There were 530 sales in January 2009. “What I am hearing from fellow REALTORS® is that many buyers are out there looking, but seem nervous about making offers. They’re confused by what they’ve been reading and hearing about the state of the real estate market. The fact is, although sales and prices have both declined here in Ottawa, they have remained relatively steady when compared with the sharp decreases seen in other parts of Canada,” said Board President Rick Snell. “Ottawa’s resale housing market is balanced, which offers opportunities for both sellers and buyers, especially first-time buyers,” Snell added. “More competitively-priced homes combined with current low interest rates make it a fantastic time for first-time buyers to get into the market.” The average price of residential properties, including condominiums, sold in February in the Ottawa area was $273,719, a decrease of 2.9 per cent over February 2008. The Board cautions that average price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average price is calculated based on the total dollar volume of all properties sold. Source: Ottawa Real Estate Board Flat Rate Realty Ottawa - Low Fees - Full Service |
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