October 2009
September resale home sales highest on record
Members of the Ottawa Real Estate Board sold 1,220 residential properties in September through the Board’s Multiple Listing Service® system compared with 1,204 in September 2008. This is an increase of 1.3 per cent.
“September was another record-breaking month for Ottawa home sales, capping off a very busy and active summer for Ottawa Real Estate Board Members,” said Board President Rick Snell. “Inventory levels rose from last month but remain lower than in September 2008, and that low supply, coupled with continued a strong demand for resale housing, helped nudged selling prices higher,” he added
The average price of residential properties, including condominiums, sold in September in the Ottawa area was $304,789, an increase of 5.7 per cent over September 2008. The average price for a condominium property was $241,458, an increase of 17.3 percent over September 2008. The average price for a residential property was $322,960, an increase of 4.1 per cent over September 2008.
With particular reference to residential homes, MLS statistics for September 2009 show a total of 948 sales of homes, a minimal decrease of 0.3 per cent from September 2008. September 2009’s average sale price was $322,960, an increase of 4.1 per cent over the previous September’s $310,177. These figures of course are averages for the entire city. If you would like more specific statistical information, I’ll be happy to provide it.
Heading into the glories of fall and the hopefully late onset of winter, the market remains as hot as ever. Resale homes are selling, selling, selling. This market is a great opportunity for sellers and if a move is in your plans, I urge you to take action now.
If you require additional information, whether or not you are considering selling, don’t hesitate to call me for an informal chat.