Resale home market continues to surge.
October 6, 2006 - Home sales in Ottawa are running 5.5 per cent ahead of last year's pace, and are likely to exceed the threshold of 13,000 by year's end.
The Ottawa Real Estate Board says its
members sold 1,092 homes in September, compared with 1,078 in September 2005.
"We are on track to surpass 13,000 sales this year," says board president Ron Levine. "Ottawa's housing market is still growing, though it is a more controlled growth now than it has been in the past several years. Interest rates are still low, and many buyers are taking advantage of the diverse housing choices available to them.
So far this year, board members have sold 11,226 homes, compared to 10,638 in the same period a year ago.
Average home prices continue to increase. The board says the average price of the homes sold in September through its MLS system was $255,026, an increase of 6.5 per cent over the same month a year ago.
The average price of a single-family home sold last month was $273,946, up 5.3 per cent from a year ago. The average condo sold for $186,393, a gain of 2.9 per cent.
Year to date, the average price is $256,117.
© Ottawa Business Journal - 2006