Resale home sales in 2011 were slightly above the five-year average of 14,326 and that’s really the story of the year. The market started off the year quietly, but gained momentum as the year progressed, including the best November on record.
The total number of homes sold through the Board’s Multiple LIsting Service® system in 2011 was 14,412, an increase of 1.7% over 2010. The average price for 2011 was $343,701, an increase of 5.2% over 2010.
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%. The five-year average for December sales is 611. Of those sales,177 were condominiums while 522 were in the residential property class.
The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $332,527, an increase of 2.6 per cent over December 2010. The average sale price for a condominium-class property was $262,514, an increase of 3 per cent over December 2010. The average sale price of a residential-class property was $356,267, an increase of 0.2 per cent over December 2010. Since each area shows slightly different trends, if you would like to see what is happening in your neighbourhood, contact me and I can send you the recent sales, average prices and any other additional information that you may wish to have.
Give me a call if I can be of assistance with any real estate questions – and don’t forget that referrals can get your Aeroplan points!