Just as we had expected June was yet another record breaking month for the Ottawa Real Estate Board. In June, members of the Ottawa Real Estate Board sold 1,895 residential properties which only include properties listed on the Multiple Listing Service. In June 2008 the sales in the residential property class totaled 1,685 which is an overall increase of 12.5%.
Agents are however finding that the listing inventory is at a very low level, and this means we are experiencing multiple offers and competitive bidding on many properties.
“This is the third consecutive record setting month this year and the fourth month where sales exceeded the previous year’s sales,” said Board President Rick Snell. “Year-to-date sales as of the end of June are up one per cent over the same time period in 2008. We have seen a strong recovery from the slow start to this year,” he added.
According to our board statistics, the average sale price of residential properties sold in June in the Ottawa area was $306,924, an increase of 3% over June 2008. The average sale price for a condominium-class property was $236,830, an increase of 8.3% over June 2008.
This is very exciting!!! Our Ottawa market just keeps getting better and is not showing any signs of that changing anytime soon! Now IS the time to buy or sell!
Call me if you have any questions!!
Mary-Anne
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