Last month was the best November on record for resale home sales in Ottawa. The last time we saw sales numbers anywhere close to that number was in 2001. It speaks well for the stability of our market that even in the quieter months of the year, our market is still thriving.

Not much has changed in the Ottawa resale housing market since last month. Sales remain slightly above average, prices continue to appreciate at a moderate rate, and homes are taking about the same amount of time to sell.

What a difference a year makes. Last summer the real estate market was reeling from the implementation of the HST that saw many buyers and sellers move up their purchases to the winter and early spring. 2011 is a different story, one that looks a lot more like the average year for Ottawa’s resale housing market.

Average Home Prices in Ottawa From January 2005- April 2011 MLS Residential Sales Percentage Increase or Decrease over Previous Year Residential and Condominium Resale Activity From 1980-2010

Unit sales 0f 1,536 was a decrease of 16.5% in April 2011 compared to April 2010 while the average sale price increased by 5% to $351,226. The number of new listings at 2,810 was 6.5% less than last April. As a result listing inventory grew by only 10% over March 2011.  Because sellers held off putting their properties on the… Read More >>

Members of the Ottawa Real Estate Board sold 1,232 residential properties in March through the Board’s Multiple Listing Service® system compared with 1,495 in March 2010, a decrease of 17.6 per cent. The five-year average for home sales in March is 1,256. Monthly News Release March 2011