Record Breaking Year for Homes Sales in Ottawa – from the Ottawa Real Estate Board at http://orebweb4.oreb.ca/news_release.shtml
Ottawa, January 9, 2007: Members of the Ottawa Real Estate Board sold 682 homes in December through the Board’s Multiple Listing Service® system, setting a new record of 13,783 residential sales for 2006. The previous record was 13,152 in 2004. There were 615 sales in December 2005.
“Overall, it was a very healthy year for Ottawa’s residential real estate market,” said newly elected Board President Diane Hatfield. “The average sale price of a home continued to trend upward, and the still-growing condominium market drove sales numbers all year long. Condos are also selling more quickly than they did in 2005, while residential sales stayed on pace with the previous year.”
The average price of the homes sold in December through the MLS® system in the Ottawa area was $247,833, and for the year the average price was $255,889. 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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