Homebuyers undeterred by January cold

Members of the Ottawa Real Estate Board sold 627 residential properties in January through the Board’s Multiple Listing ServiceĀ® system, compared with 587 in January 2014, an increase of 6.8 per cent. The five year average for January sales is 633.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $348,617, an increase of 0.5 percent over January 2014. The average sale price for a condominium-class property was $250,406, a decrease of 5.8 per cent over January 2014.

While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of the properties sold.