Strong Condo Sales Help Hold Market Steady.
“The condo segment of the market continues to grow in Ottawa, with nearly 200 more units sold in
the first 8 months of the year than in 2005,” said Board President Ron Levine. "Thanks in part to
that, I would say the Ottawa resale housing market is steady. We are on track to meet or even
surpass 13,000 sales this year."
The average price of the homes sold in August through the MLS® system in the Ottawa area was
$260,784, an increase of almost nine per cent over August 2005. Year to date the average price is
$256,380.
The Board cautions that average 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 price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of 2,170 sales representatives and brokers in
the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association
and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa
Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the
purchase and sale of real estate through real estate services provided by REALTORS®. MLS®
commercial and residential listings are available for viewing on the Board’s internet site at
www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at
www.mls.ca and www.ICX.ca . Information about listings and open houses is also available in the
Board’s weekly newspaper, Ottawa Real Estate Guide.
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September 8, 2006 - Ottawa, September 8, 2006: Members of the Ottawa Real Estate Board sold 1,249 homes in August
through the Board’s Multiple Listing Service® system compared with 1,240 in August 2005. There
were 1,241 sales in July 2006.
© Ottawa Real Estate Board - 2006