Ottawa’s real estate agents sold 995 homes in November, up 0.9 per cent from October’s total (986) and beating the 5-year average for the month (939).
The figures show a more typical level of monthly sales than the past few months in a year where exceptional sales figures have been achieved with December figures still to come.
“The condo market appears to be on the rise now, a welcome change compared to earlier in the year, with sales coming in at 16.2 per cent higher than November 2015,” says new Ottawa Real Estate Board President, Rick Eisert. “Several factors could have contributed to this increase – inventory levels trending downwards, steady prices, or buyers affected by the newly changed mortgage rules,” says new Ottawa Real Estate Board President, Rick Eisert.
Average sale prices were up year-over-year with residential class homes up 6.5 per cent to $405,320 and condominium class homes up 1 per cent to $277,650.
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