After a sluggish April, the number of residential properties sold in May was down only slightly compared with the same month last year, according to the Ottawa Real Estate Board.
Real estate agents in the city sold 1,792 residential properties last month, just five fewer than in May 2013, or a 0.3 per cent decrease. The number is still up 27 from the five-year average for May.
“April was a bit slow for the Ottawa market,” Ottawa Real Estate Board President Randy Oickle said in a statement, “but it appears that with the great weather in May, buyers have come out of hibernation.”
The latest numbers show residential properties are performing better than condos, but prices are up across the board.
The average sale price of all residential properties, including condos, was $381,172, up 3.2 per cent over last year. Condo prices were up 6.9 per cent at $280,661 and all other residential properties were up 2.1 per cent at $401,626.
So far this year, Ottawa agents have sold 5,854 residential properties, down 2.8 per cent from the year-to-date numbers in 2013.