No cooling in Ottawa’s housing market

By Steve Randall
Figures from real estate agents in Ottawa show that the market remained strong in September.

In Ottawa, sales were up 1,371 homes, 10.5 per cent more than a year earlier and remaining above the 1,171 5-year average for September.

“Again this month, we have broken the record for residential and condominium units sold, with 200 more units sold than the five-year average for September sales,” says Shane Silva, President of the Ottawa Real Estate Board. “With average sale prices remaining virtually unchanged since the beginning of the year, this could be an indication that prices have adjusted to market expectations and sales have rebounded as a result.”

Prices eased, with residential class homes selling for an average $383,793, down 0.1 per cent from a year earlier. For condos, the average was $252,136, down 0.2 per cent year-over-year.

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