Ottawa Real Estate Market

Steady as she goes for the Ottawa real estate market in 2012

618 residential properties sold in December 2012 through the Ottawa MLS system compared with 695 in December 2011, a decrease of 11.1 per cent. The five-year average for December sales for the Otatwa real estate market is 617.

In 2012 the total number of homes sold in the Ottawa real estate market was 14,308, which is a small  decrease from the 14,389 homes sold in 2011. However, resale home sales in 2012 were slightly above the five-year average of 14,274.  However the average  sale price for the Ottawa Real estate for 2012 was $351,792, an increase of 2.3 per cent over 2011.

2012 Ottawa Real estate market

Home sales increaesed in the 1st half of 2012 in comparison to the first half of 2011. The market seemed to cool down with the introduction of tighter mortgage rules back in July as well as looming government layoffs. Although the government has succeeded in its plan to “cool down” the market, Ottawa real estate market remains steady and balanced.  Devoid of large fluctuations in resale activity. We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home.”

Ottawa real estate market sales.

In December the Ottawa real estate market had sales  of 134 condominium properties and 484 sales in residential properties. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

Ottawa real estate market home prices still on the rise.

The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $336,591, an increase of 1.3 per cent over December 2011. The average sale price for a condominium-class property was $258,498, a decrease of 1.5 per cent over December 2011. The average sale price of a residential-class property was $358,211, an increase of 0.6 per cent over December 2011. The Ottawa Real Estate Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

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