Members of the Ottawa Real Estate Board sold 1,244 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,131 in September 2014, an increase of 10 per cent. The five-year average for September sales is 1,137.
Inventory levels continued to decline; by over 4 per cent since last month, bringing the Ottawa resale market into balanced territory. Cumulative days on market increased slightly to 93 days, up from 89 days in August. The average sale price remains steady.
The average sale price of residential class property sold in September in the Ottawa area was $385,142, an increase of 0.5 per cent over September 2014. The average sale price for a condominium-class property was $257,303, an increase of 1.3 per cent over September 2014.
The highest concentration of properties sold continues to be in the $300,000 to $400,000 price range.