Tuesday, November 07, 2006

Condominium Are Selling Faster In Ottawa

More than a thousand homes (1,015) in Ottawa were sold in the last month, up from 931 homes in the same month of 2005.

Ottawa condominium properties are selling faster than at this time last year, with an average of 42 days on the market, down from 48 in October 2005, and their average selling price is up 9 % over last October, indicating that condo sales are a driving force in Ottawa's resale housing market.

In addition, residential properties are selling at the same brisk pace as last year, and sales numbers are up more than nine per cent, demonstrating continued solid growth.

Sales of condos in October of this year increased to 217 units
with an average sale price of $188,645, compared to 201 units and an average price of $173,146 in the same month last year. The average price of a single-family home sold last month rose 3.8 % to $274,015, with a 9.3 % increase in homes sold to 798 units from October of last year.


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