Resales strong in Ottawa, prices lower

There was a 6.6% increase in sales through the Ottawa Real Estate Board MLS in August compared to the same period in 2014.

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.

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