Condo market lifts Ottawa prices

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Blog by Ottawa Real Estate | Ottawa Homes for Sale | Ottawa Relocation | December 6th, 2010

Condo market lifts Ottawa prices

Ottawa Citizen December 4, 2010
Buoyed by a strong condominium market, Ottawa housing prices increased 3.4 per cent to $324,218 in November compared to the same month last year, says the Ottawa Real Estate Board.

Condo prices jumped 17.4 per cent to $265,704, far outpacing the 0.6 per cent increase in residential-class properties to $342,154.

The board said 942 residential properties were sold through its MLS system, compared with 913 in November 2009, an increase of 3.2 per cent.

"Both the residential and condo classes showed slightly higher sales than last year, selling prices increased at nearly the same rate and the number of properties available for sale rose from a year ago as well,'' said Pierre de Varennes, the association's immediate past president.

Year to date, condo prices have risen 13.1 per cent, and residential properties 7.6 per cent.