Realtors in the city sold 1,279 homes, beating the five-year average of 1,234.
David Oikle, president of the Ottawa Real Estate Board said: “In addition to an increase in units sold, inventory levels of residential and condominium properties dropped by 5.3% since last month, and cumulative days on the market was an average of 89 days.”
The average sale price of a residential-class property sold in August in the Ottawa area was $379,946, a decrease of 0.1% over August 2014. The average sale price for a condominium-class property was $244,801, a decrease of 7.3% over August 2014.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
Investment Hot Spots:
Briercrest, Walsingham, Grand Mira North, West Berlin, Allenford
There was a 6.6% increase in sales through the Ottawa Real Estate Board MLS in August compared to the same period in 2014.