Ottawa resales up 7% in February

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Ottawa Real Estate Board members sold 1,009 houses and condominiums in February, an increase of 7.3 per cent over last year.

The average sales price for all property types was $350,046, up 3.2 per cent from last year. The price is based on the total dollar volume of all properties sold.

The sales included 244 condominiums and 765 residential properties.

"This month's results indicate a steady incline in resale housing in the Ottawa area," stated OREB past president Joanne Tibbles.

"The number of sales increased since January, and the inventory of properties for sale is back to a normal rate – still offering plenty of options for buyers, and this indicates a healthy balanced market as we head into spring."