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

What happened in Westboro and Hampton Park, Ottawa during the month of April 2010?

The neighborhoods of Westboro and Hampton Park in Ottawa saw a total of 7 sales in April 2010.

The average days on the market of the homes sold in April 2010 in Westboro, was 17. The longest days on the market was 65 and the shortest was 0 days (sold within the first day of listing). The average price of homes sold during the month of April 2010 in Westboro was $498,000 and increase over last years average price of $425,642. The highest priced property sold during the month of April in Westboro and Hampton Park was $665,000 and the lowest was $340,000.

Compared with April 2009 homes in Westboro are selling quicker. Average days on the market of homes in Hunt Club, Ottawa during the month of April 2009 was 17 days. The longest days on the market was 65 and the shortest was 2 day. The highest priced property sold during the month of April 2009 was $608,500 and the lowest was $260,000.

This being said now is a great time to sell your home in Westboro or Hampton Park as demand is high and the inventory is low.

If you are looking to sell your home call today for your free home market evaluation. 613-889-7732

Source: OREB

hat happened in Hunt Club, Hunt Club Woods and Hunt Club Western Community, Ottawa during the month of April 2010?

The neighborhoods of Hunt Club, in Ottawa saw a total of 10 sales in April 2010.

The average days on the market of the homes sold in April 2010 in Hunt Club, was 14. The longest days on the market was 30 and the shortest was 6 days. The average price of homes sold during the month of April 2010 in Hunt Club was $334,290. The highest priced property sold during the month of April in Hunt Club was $585,000 and the lowest was $202,000.

Compared with April 2009 homes in Hunt Club are selling much quicker. Average days on the market of homes in Hunt Club, Ottawa during the month of April 2009 was 27 days. The longest days on the market was 47 and the shortest was 1 day. The highest priced property sold during the month of April 2009 was $507,000 and the lowest was $253,000. Average price of homes sold in April 2009 was $367,625

This being said now is a great time to sell your home in Hunt Club as demand is high and the inventory is low.

If you are looking to sell your home call today for your free home market evaluation. 613-889-7732

Source: OREB

What happened in Centre Town and Golden Triangle, Ottawa during the month of April 2010?

The neighborhoods of Centre Town and Golden Triangle, in Ottawa saw a total of 11 sales in April 2010.

The average days on the market of the homes sold in April 2010 in Centre Town and and Golden Triangle, was 15. The longest days on the market was 96 and the shortest was 0 day (home sold on day of listing). The average price of homes sold during the month of April 2010 in Centre Town and and Golden Triangle was $472,709 an increase over last years $415,650 average during the same period.. The highest priced property sold during the month of April in Centre Town and and Golden Triangle was $665,000 and the lowest was $340,000.

Compared with April 2009 homes in Centre Town and and Golden Triangle are selling much at the same speed this year. Average days on the market of homes in Centre Town and and Golden Triangle, Ottawa during the month of April 2009 was 15 days. The longest days on the market was 33 and the shortest was 2. The highest priced property sold during the month of April 2009 was $563,000 and the lowest was $327,000.

This being said now is a great time to sell your home in Centre Town and and Golden Triangle as demand is high and the inventory is low.

If you are looking to sell your home call today for your free home market evaluation. 613-889-7732

Source: OREB

What happened in Overbrook and Castle Heights, Ottawa during the month of April 2010?

The neighborhoods of Overbrook and Castle Heights in Ottawa saw a total of 7 sales in April 2010.

The average days on the market of the homes sold in April 2010 in Overbrook and Castle Heights was 10. The longest days on the market was 23 and the shortest was 2 days. The average price of homes sold during the month of April 2010 in Overbrook and Castle Heights was $304,000 an increase over last years $277,750 average during the same period.. The highest priced property sold during the month of April in Overbrook and Castle Heights was $380,000 and the lowest was $190,000.

Compared with April 2009 homes in Castle Heights and Overbrook are selling much quicker this year. Average days on the market of homes in Overbrook and Castle Heights, Ottawa during the month of April 2009 was 22 days. The longest days on the market was 80 and the shortest was 2. The highest priced property sold during the month of April 2009 was $433,000 and the lowest was $180,000.

This being said now is a great time to sell your home in Castle Heights or Overbrook as demand is high and the inventory is low.

If you are looking to sell your home call today for your free home market evaluation. 613-889-7732

Source: OREB