Record Breaking Sales in September

October 6, 2008 : Members of the Ottawa Real Estate Board sold 1,208 residential properties in September through the Board’s Multiple Listing Service® system compared with 1,105 in September 2007, an increase of 6.1 per cent. There were 1,185 sales in August 2008.

"This year was the best September on record for MLS® sales, demonstrating clearly that Ottawa's housing market is still strong and very healthy. Prices continued to rise at a gentle but steady pace, similar to what we've been seeing for the past few months, which is great news for sellers," said Board President Heather Skuce.  "Sales were up in both the condo and freehold categories, demonstrating vitality in this city's market across a wide range of housing types," she added.

The average price of residential properties, including condominiums, sold in September in the Ottawa area was $288,006, an increase of 6.1 per cent over September 2007. The Board cautions that average price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average price is calculated based on the total dollar volume of all properties sold.

The Ottawa Real Estate Board is an industry association of 2,400 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area.