Ottawa Real Estate Board Sales for July 2006
Market Posts Second-Hottest July on Record – from the Ottawa Real Estate Board at http://orebweb4.oreb.ca/news_release.shtml
Ottawa, August 8th, 2006: Members of the Ottawa Real Estate Board sold 1,241 homes in July 2006 compared with 1,195 in July 2005, an increase of almost four per cent. There were 1609 sales in June 2006.
"With over $2 billion in residential real estate sales in the first seven months of 2006 alone, it is clear that consumer confidence remains strong" said Board President Ron Levine. "Mortgage rates continue to be affordable and buyers responded strongly in July, generating the second-highest number of sales ever for that month, surpassed only by July 2003.
The average price of the homes sold in July through the MLS® system in the Ottawa area was $253,722, an increase of almost four per cent over July 2005. The Board cautions that average 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 price is calculated based on the total dollar volume of all properties sold.
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