Home sales slow in November

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Home sales in Ottawa last month couldn't compete with last year's best November on record, with a nine-per-cent decrease in sales year-over-year.

Ottawa realtors sold 931 residential properties last month, down from 1,023 in November 2011 but still well above the five-year average of 890, according to the Ottawa Real Estate Board.

The average price for a home last month was $350,020, an increase of one per cent year-over-year. That’s up 11.6 per cent since OBJ began compiling data in 2009.

Total sales this year sit at 13,692, almost exactly on par with the 13,684 sold by the end of November 2011.

Last month’s sales included 208 condominium units and 723 in the residential property class. Condo sales were down by 15.8 per cent compared to last November, and residential homes down 6.8 per cent.