August 5, 2010 : Still a seller’s market in Ottawa; prices rise steadily

Members of the Ottawa Real Estate Board sold 1,149 residential properties in July through the Board’s Multiple Listing Service® system compared with 1,578 in July 2009, a decrease of 27.2 per cent.

Of those sales, 294 were in the condominium property class, while 855 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 July saw a record high number of sales in Ottawa, which was the result of pent-up demand as the market came out of a downturn. What we see this year is a return to more seasonal sales volumes,” said Board President Pierre de Varennes. “The ratio of listed properties to sold properties indicates that Ottawa remained in a seller’s market last month, and sale prices continued to rise at a steady pace, as they generally do here in the national capital,” he added.

The average sale price of residential properties, including condominiums, sold in July in the Ottawa area was $321,827 , an increase of 7.1 per cent over July 2009. The average sale price for a condominium-class property was $249,674 , an increase of 15.2 per cent over July 2009. The average sale price of a residential-class property was $346,638, an increase of 7.1 per cent over July 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

SOLD! If you are thinking of buying or selling your property please give one of our agents a call.

Warm and Inviting Popular Fifth Avenue Minto model, situated in the family-oriented community of Chapman Mills in Ottawa.  Clean and bright.  Lovely kitchen, huge bedrooms with plenty of space for a King size bed in the Master bedroom.  Master ensuite with roman tub.  Finished lower level Family room with a Gas fireplace.  Fenced in Backyard.  Measurements as per Builder floorplans.  Ready for you to move in and Enjoy!

Call Roch St-Georges for your personal showing. 613-889-7732

Listing Price: $293,000 | MLS 767152 | 421 Citadel, Ottawa, Ontario| 3 beds | 3 baths

Directions: Woodroffe Ave to Cresthaven Dr, right on Harbour View St and Left on Citadel Cres.

SOLD! If you are thinking or buying or selling your property please give us a call 613-889-7732.

Warm and Inviting Popular Fifth Avenue Minto model, situated in the family-oriented community of Chapman Mills in Ottawa.  Clean and bright.  Lovely kitchen, huge bedrooms with plenty of space for a King size bed in the Master bedroom.  Master ensuite with roman tub.  Finished lower level Family room with a Gas fireplace.  Fenced in Backyard.  Measurements as per Builder floorplans.  Ready for you to move in and Enjoy!

Call Roch St-Georges for your personal showing. 613-889-7732

Listing Price: $293,000 | MLS 767152 | 421 Citadel, Ottawa, Ontario| 3 beds | 3 baths

Directions: Woodroffe Ave to Cresthaven Dr, right on Harbour View St and Left on Citadel Cres.

Roch St-Georges, Sales Representative - HomeLife Capital Realty Inc., Brokerage - Direct: 613-889-7732 Office: 613-627-4141

July 23 to 25th is the Turkish Festival in Ottawa at the Confederation Park. Visitors can admire Turkish art, fold dance, music and gourmet food. Come learn, celebrate and savour the Turkish culture, heritage, hospitality and cuisine.

For more information feel free to call 613-228-1616 or visit their website at http://ottawaturkishfestival.com/

On July 10th Ottawa will be hosting the world's largest beach volleyball tournament with over 25,000 players and spectators. A wide variety of entertainment will be on site for the weekend event.

For more information on the event and how you can register a team visit : http://hopehelps.com/