The Ottawa Real Estate Board counted 1,090 residential property sales in October, an increase of 2 per cent from the 1,069 sales counted the same time last year. The tally is just a few sales short of the five-year average for October sales, which sits at 1,091.
The nation’s capital saw 211 sales in the condominium property class and 879 in the residential property class.
“This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold,” said Ansel Clarke, Past President of the Ottawa Real Estate Board, in the news release.
“We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market.”
Last month was a change from the September numbers, which saw sales skyrocket by 12.5 per cent, but prices plateau. In October, the average sale price of a home in the Ottawa area rose 4.1 per cent year-over-year to $360,085. The average price for a condo in Ottawa increased by 1.6 per cent to $270,542, while residential-class properties rose 3.5 per cent to $381,580.