The Ottawa home resale market is no closer to jumping out of its 2013 slowdown after June numbers showed a year-over-year drop in sales of 4.1 per cent.
The number of properties sold last month clocked in at 1,594, according to figured the Ottawa Real Estate Board released Thursday. That’s down from 1,662 sold in June 2012.
The new figures mean home resales have fallen in four of the year’s first six months, dropping the year-to-date sales by seven per cent when compared to last year.
OBJ360 (Sponsored)
A new signature event is set to grace the Ottawa business and philanthropic calendar this summer. CHEO Foundation and the prestigious The Royal Ottawa Golf Club are proud to announce
Care, Serve, & Give: Dr. Helen Tang is redefining what it means to lead with purpose
Dr. Helen Tang is a dynamic and multifaceted leader whose passion for community and philanthropy is at the heart of everything she does. As a devoted mother of two and
But that isn’t of particular concern to realtors in the area, who believe 2013 is right in line with results from the past decade.
“June sales are down a bit since last month, but even though there’s a slight decrease, it seems to be the norm throughout the years,” said Ansel Clarke, immediate past president of the OREB, in a statement.
Prices continued to increase, climbing 1.9 per cent from $352,587 in June 2012 to $359,232 last month.
There were also fewer condominium class properties sold in June, falling to 314 from 369 last year.
“The condo market has dipped below average,” said Mr. Clarke in the statement. “The five-year average for June condo sales is 368 – putting June in at 17 per cent lower than the average.”
