(Source: The Ottawa Citizen)
A record-breaking number of homes were sold in Ottawa last month, up 3.9 per cent from May 2008, and for more money.
The Ottawa Real Estate Board said 1,969 residential properties were sold in May, compared to 1,896 a year ago. The May figure is a 19-per-cent increase from a month ago.
The average sale price of homes sold last month was $312,045, an increase of 5.3 per cent from May 2008. Ottawa Real Estate Board president Rick Snell said the news is wonderful considering Canada’s turbulent economic climate.” And it’s great for the Ottawa economy,” he said, “because every time there’s a sale, it generates all kinds of business throughout the Ottawa economy. People move, they buy furniture, they buy appliances, they decorate, they renovate.”
Read the full article by Kristy Nease “May a merry month for Ottawa home sellers” in the Ottawa Citizen (June 4 2009).