Homes Sales In Ottawa Hits New Record

The resales of properties in Ottawa has gone up and made the month of August see a new hit, with 1,484 homes sold through the Real Estate Board’s MLS in Ottawa. The numbers show the 16.34 percent increase that has occurred over the years, which is way more than 200 units surpassing the 5-year benchmark for last month.

The president of OREB, Shane Silva said: “The year started off a little sluggish, but as soon as April hit we were either breaking records or outpacing the year before considerably. This is a-typical of August when units sold normally start to decline approaching the fall.”

He continued saying that the benchmark sale prices has been at a steady level throughout this year, but went up last month, perhaps because of the year-over-year increase of 6 houses in the real estate market which was more than a million dollars.

For residential-class property that was sold in the Ottawa area during the month of August, the average sale prices were $389,786 with a yearly increase of 2.5 percent, and for a condominium-class home, $272,166 was the average sale figure, increasing by 11.1 percent over last year August.