The average sale price of a residential-class property was $384,632, an increase of 1.2 per cent over February 2015 while the average for a condominium-class property was $249,727, down 6.8 per cent from a year earlier.
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The weather turned stormy in February but there was still plenty of power in the Ottawa housing market. Sales increased 7.2 per cent from a year earlier with 911 homes sold. Ottawa Real Estate Board president Shane Silva commented on the strong surge in sales from the previous month: “Residential and condo sales combined increased by 52.3 per cent since last month. However, we need to factor in the leap year, which added an extra day to the month of February, and 46 sales on that day alone.”