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Hottest April on
record for resale housing market
Members of the Ottawa Real
Estate Board sold 1,841 residential properties in April
through the Board’s Multiple Listing Service® system
compared with 1,591 in April 2009, an increase of 15.7 per cent.
Of those sales, 425 were in
the condominium property class, while 1,416 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.
“Last month’s
sales blew away the record for April, which is always one of
the busiest months of the year for our market,” said Board
President Pierre de Varennes. “The increased sales
activity may be partially due to buyers trying to avoid the
impending HST and the mortgage changes that came into effect
on April 19, but also demonstrates that consumers feel
confident about our local economy,” he added.
The average sale price of residential properties,
including condominiums, sold in April in the Ottawa area was
$332,979, an increase of 11.6 per cent over April
2009. The average sale price for a condominium-class
property was $254,220, an increase of 17.4 per cent over April
2009. The average sale price of a residential-class property
was $356,617, an increase of 11.7 per cent over April 2009.
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 |
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