June In Review

Members of the Ottawa Real Estate Board sold 1,712 residential properties in June through the Board’s Multiple Listing Service® system compared with 1,543 in June 2010, an increase of 11 per cent. The five-year average for June sales is 1,695.

Of those sales, 378 were in the condominium property class, while 1,334 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.

“It’s obvious that the dream of home ownership is alive and well in Ottawa, with solid sales numbers like these. First-time buyers are out in the market in a big way, due to continued low interest rates, and after last year’s HST-affected spring, we’re seeing a return to what the June resale market usually looks like in Ottawa,” said Board President Joanne Tibbles.

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $353,560, an increase of 8 per cent over June 2010. The average sale price for a condominium-class property was $275,996, an increase of 9.6 per cent over June 2010. The average sale price of a residential-class property was $375,539, an increase of 7.3 per cent over June 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.

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About tylerlaird
Having been born and raised in Ottawa, this city is more than my home, it is a part of who I am and the basis from which all other cities must be compared. I have watched it grow and progress in its size and over time I found myself naturally drawn to the different neighbourhoods, with their varying characters, layouts and styles. After earning a BA in Law from Carleton University, Tyler discovered a new passion, real estate. In 2010, he began to use his passion for Ottawa’s various housing styles and diverse neighbourhoods, to help many people find that place that they can call home.

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