The Ottawa Resale Housing Market had a fairly typical January although inventory of homes for sale is higher than a year ago, offering more choice for buyers. 

Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board’s Multiple Listing Service® system compared with 677 in January, 2011, an increase of 1%. The five-year average for January sales is 652. Of those sales, 138 were condominiums while 546 were in the residential property class. 

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $349,415, an increase of 5.6 per cent over January 2011. The average sale price for a condominium-class property was $253,210, an increase of 6.8 per cent over January 2011. The average sale price of a residential-class property was $373,731, an increase of 5.5 per cent over January 2011. 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. 

If you have any questions about the market or know anyone else who would like to receive my Real Estate Market Update, please call or e-mail me.   

By the way, referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move.  I’d be delighted to have the opportunity to provide them with my real estate services.