Ottawa Real Estate Board members were busy in August, with sales exceeding both the same month in 2014 and the five-year average, the board said Thursday.
Members sold 1,279 residential properties in the month, 79 more than in August 2014. The five-year average is 1,234.
“In addition to an increase in units sold, inventory levels of residential and condominium properties dropped by 5.3 per cent since last month, and cumulative days on the market was an average of 89 days,” board president David Oikle said in a statement.
(Sponsored)
Invest with confidence: Hydro Ottawa funds technical studies for business retrofits
For Ottawa businesses, the opportunity to improve building performance has never been greater. Energy retrofits can cut emissions, strengthen operations, extend the life of assets, reduce operating costs, and position
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
Condominiums made up 259 of the sales, while the other 1,020 came in the residential property class.
The average residential price was $379,946, down 0.1 per cent from August 2014. The average condo price dropped 7.3 per cent from a year earlier to $244,801.
“It is important to note that the increase in units sold is for both residential and condominium properties,” Mr. Oikle said, adding the number of condo sales continues to rise.
“Year-to-date condominium sales are now close to on par with last year,” he said.
The majority of the properties sold were in the $300,000 to $400,000 range, Mr. Oikle said, followed closely by the $200,000 to $300,000 range.
