Ottawa real estate agents enjoy steady January market

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The January deep freeze had no adverse effect on home sales in the capital, according to the Ottawa Real Estate Board.

In numbers released Wednesday, OREB said its members sold 627 properties in the first month of 2015, 40 more than January 2014, and just six short of the five-year average.

“The cold weather proved not to be a deterrent for buyers in January,” OREB president David Oikle said in a statement, adding OREB members also assisted clients rent 183 properties.

The January sales included 513 residential properties and 114 condominiums.

New listings in January doubled that of December, something Mr.Oikle called normal as the spring market – usually a busy time – approaches.

The average sale price of all properties was $348,617, up 0.5 per cent from January 2014. The average condo went for $250,406, down 5.8 per cent from last year. The average residence sold for $370,442, up 0.5 per cent from last January.

Mr. Oikle said the board is anticipating a busy 2015.

“The possibility of interest rates approaching record lows will provide even more opportunity for homebuyers,” he said.