October housing sales increase

Ottawa realtors collectively recorded their best October since 2009 in terms of home sales, although increases in prices continued to slow.

The average sale price last month was $346,492, a 2.6 per cent increase year-over-year, and up 8.6 per cent since October 2009 when OBJ began compiling data.

Ottawa Real Estate members sold 1,073 residential properties in October, an increase of 1.3 per cent compared to last year.

OREB president Ansel Clarke said in a statement that Ottawa is “right on track” when looking at October’s five-year average of 1,067 sales.

“We are not experiencing a real estate downturn in Ottawa, but a slow, steady incline in units sold and average sale price,” he stated.

October’s sales included 237 condominium units and 836 in the residential property class.

Sales for the first 10 months of the year are at 12,768, up from 12,661 during the first 10 months of 2011.