Ottawa real estate market stays strong in June: OREB

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The local real estate market continues to heat up with the summer temperatures, according to the latest figures released by the Ottawa Real Estate Board on Monday.

Board members sold 1,694 residential properties in June, up 2.2 per cent from the 1,657 sold in June 2014 and also higher than the five-year average of 1,664.

“Year-to-date sales for the first half of 2015 are up 4.9 per cent over the first half of 2014, and average sale price continues to be steady for the first half of the year,” OREB president David Oikle said in a statement.

Agents sold 1,420 residential class properties and 274 condominiums in June. At $404,254, the average price of a residential class property was up 4.1 per cent compared with a year earlier. The average condo price was $271,415, an increase of 5.1 per cent over June 2014.

Mr. Oikle said the $300,000-to-$400,000 price range saw the most activity, but sales were up across the board. He called inventory levels “healthy,” with the average cumulative number of days on market holding steady from May at 74.

“Properties continue to move consistently, and we look forward to this continuing into the second half of the year,” Mr. Oikle said.