How's the housing market?
OTTAWA, January 5, 2012 - 2011 A typical year for home sales in Ottawa.
Board’s Multiple Listing Service® system compared with 618 in December 2010, an increase of 13.1 per
cent. The five-year average for December sales is 611. The total number of homes sold through the
Board’s MLS® system in 2011 was 14,412, an increase of 1.7 per cent over 2010. The average price for
2011 was $343,701, an increase of 5.2 per cent over 2010. Of December’s sales, 177 were in
the condominium property class, while 522 were in the residential property class. 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.
“Resale home sales in 2011 were slightly above the five-year average of 14,326, and that’s really the
story for the year. The market started off the year quietly, but gained momentum as we headed into
spring and summer, losing very little steam during the fall and posting the best November on record,
which leaves us with a very solid balance sheet for 2011,” said Past President Joanne Tibbles. “In many
ways, it epitomized Ottawa’s real estate market: no dizzying highs, no dramatic lows, just slow and
steady growth over the long term,” she added. The average sale price of residential properties, including
condominiums, sold in December in the Ottawa area was $332,527, an increase of 2.6 per cent over
December 2010. The average sale price for a condominiumclass property was $262,514,
an increase of 3 per cent over December 2010. The average sale price of a residential-class property
was $356,267, an increase of 0.2 per cent over December 2010. The 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.
Source: Oreb.ca