Unprecedented August sales for Ottawa real estate.
September 8, 2005 - August was another record-breaking month for city real estate agents, according to the latest figures from the Ottawa Real Estate Board.
There were 1,244 residential and condominium units sold in August, says the industry association, which represents more than 2,000 sales brokers and representatives in the Ottawa area. The August 2005 totals are up 19 per cent from the same month last year.
"The year is on pace with last year's unprecedented number of sales," says board president Jeff Greenberg. "Interestingly, the inventory of MLS listings remains higher than last year as well and the average days on market continues to increase. Properties sold in August were on the market for an average of 47 days."
However, while the August figures are showing significant growth, the year-to-date total of 9,569 residential sales show a 1.7-per-cent decrease when compared to the first eight months of 2004
The average price of residential properties sold in the Ottawa last month increased 3.3 per cent from the year before to $239,929.
© Copyright Ottawa Business Journal 2005