Mild Weather Spurs on Homebuyers?

Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board’s Multiple Listing ServiceĀ® System, compared with 891 in November 2014, an increase of 11.1 per cent. The five-year average for November sales is 944.

November’s sales included 199 in the condominium property class, andĀ  791 in the residential property class.

Inventory levels are balancing out, cumulative days on market increased to 104 days, and average residential sale prices remain steady.

The average sale price of a residential-class property sold in November in the Ottawa area was $380,761, a decrease of 0.4 per cent over November 2014. The average sale price for a condominium-class property was $275,332, an increase of 9.9 per cent over November 2014.