Hottest April on record for resale housing market in Ottawa – April 2010
Members of the Ottawa Real Estate Board sold 1841 residential properties in April through the board’s Multiple Listing ServiceR system compared with 1591 in April 2009. That represents and increase of 15.7 percent. Those numbers blew away the record for April which is always one of the busiest months of the year.
Four hundred and twenty-five of those sales were in the condominium property class while the rest were in the residential property class.
The average sale price of condominiums was $254,220 an increase of 17.4 percet over April 2009. The average sale price of residential properties was $356,617 and increase of 11.7 percent over April 2009.
Insiders predict busy May and Jue with rate hikes and HST on the horizon. Many people have locked in rates that are soon about to run out and are therefore trying to purchase before their rate changes.