OTTAWA, October 4, 2012
“There has been a lot of attention recently on the need to “cool” the real estate market across the country,” said Ottawa Real Estate Board President, Ansel Clarke. “While there may be a need in some areas, we emphasize that real estate is local, and conditions and prospects will vary among major market areas and indeed within market areas. Historically the Ottawa housing market has not experienced volatility in prices or number of units sold.”
“While average price information does not indicate the value of a specific property, it is useful to identify trends,” continued Mr. Clarke. “Since 1956 the average price in the Ottawa area has decreased only five times year over year and has increased by 15 per cent or more only five times s ell. The Ottawa market can be characterized as stable and steady although there are pockets of our market area where we see larger increases in price.” “As for the number of sales, we are on track his year to match historical levels of activity. Since 1999 the number of sales through the MLS® system in Ottawa has ranged from a low of 11,329 to a high of 14,783. Sales for the first nine months of the year are just under 11,700.”
Click on the attached pdf below to view the various charts about the Ottawa Real Estate Market and see how it compare with the past few years.
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