Members of OREB sold 581 residential properties (both condo and freehold) in December 2010 through the MLS system compared with 631 in December 2009.
Of December’s sales, 150 were in the condominium property class, while 431 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked, co-operatives etc.) which is registered as a condominium, but does not include life leases and timeshares. The residential property class includes all other residential properties.
The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $324,556, an increase of 5.6 per cent over December 2009. The average sale price for a condominium-class property was $254,776, an increase of 3.5 per cent over December 2009. The average sale price of a residential-class property was $355,860, an increase of 7.8 per cent over December 2009. The average sale 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 sale price is calculated based on the total dollar volume of all properties sold.
