Ottawa realtors kicked off 2017 by setting a five-year high for home sales in January, traditionally one of the local market’s slower months.
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Members of the Ottawa Real Estate Board sold 667 homes last month, an 11.5 per cent increase over the previous year, the association said Friday.
“The year is off to a great start, with sales up over this time last year,” said OREB president Rick Eisert in a statement. “The number of properties listed in January has doubled the amount listed in December, which is very typical of sellers getting a jump start on the spring selling season.”
The average resale price, which can fluctuate from month to month, was $394,001. While that’s up 1.9 per cent over January 2016, it’s a drop from December’s record-setting average price of $420,750.