June Sales Indicate Consistency In The Ottawa Market

Curious to know how the month of June did for Real Estate Sales?
 

" Members of the Ottawa Real Estate Board sold 1,660 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,719 in June 2011, a decrease of 3.4 per cent.

June's sales included 365 in the condominium property class, and 1,295 in the residential property class.

"Although there is a slight decrease in the number of residential properties sold this June, compared to June 2011, it seems to be the norm throughout the years," says Ansel Clarke, President of the Ottawa Real Estate Board. "For the past 10 years, with the exception of June 2011, sales have consistently and marginally decreased from May to June. This shows stability in the market, and also represents a continued steady market."

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $352,800, a slight decrease of 0.1 per cent over June 2011. The average sale price for a condominium-class property was $278,447, an increase of 0.8 per cent over June 2011. The average sale price of a residential-class property was $373,756, a slight decrease of 0.4 per cent over June 2011. The Board cautions that average sale 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 sale price is calculated based on the total dollar volume of all properties sold. "