Ottawa sees Home Prices Increase by 6.6% Year of Year

Ottawa's real estate market has seen a strong year. The average price of a residential-class property in Ottawa has increased by 6.6% year over year. This increase is led by a 7.4% increase in prices of two-storey single-family homes. The graph below shows the price increase since 2005.

If you are contemplating buying or selling a property in Ottawa in the coming months and would like to discuss your plans call Ottawa real estate agent, Roch St-Georges at 613-889-7732.

Stats November 2010 Elmvale Acres

he neighborhood of Elmvale Acres in Ottawa, Ontario saw a total of 6 sales during the month of November 2010. This is an increase for the neighborhood of Elmvale Acres when compared to November 2009 which saw a total of 5 sales. Average days on market have gone down over last year for the Elmvale Acres area. Homes in the residential class have been selling at an average of $314,833 when compared to Elmvale Acres stats for November 2009 this is a 8% increase.

A Great Start to 2010 for the Ottawa Housing Market

A Great Start to 2010 for Ottawa’s Housing Market

February 3, 2010 : A Great Start to 2010 for Ottawa’s Housing Market

Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent.

Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

Source: OREB

2009 Stats for Manor Park - Homes for Sale, Homes Sold, Average Listing and Selling Price

In 2009 Manor Park saw 47 homes listed on the MLS compared with 41 homes in 2008 an increase of 14%.

As for sold listings Manor Park saw 39 sales in 2009 compared to 26 in 2008 an increase of 50%. Of the 39 homes sold in Manor Park in 2009 homes had on average 3 bedrooms and 2 bathrooms. The highest having 6 bedrooms and 4 bathrooms and the lowest having 2 bedrooms and 1 bathroom the average selling price was $425,774. Homes in Manor Park are on average 39 days on the market before finding a buyer. Homes that sold in 2008 sold on average in 23 days and the average selling price in Manor Park was $402,892 during that same year an increase of approx. 5.7%.

If you are interested in selling your property in Manor Park, Ottawa give me a call today. 613-889-7732