Ottawa Business Journal
Advertising   |   Subscriptions   |   Reprints   |   Contact Us
 
News Story
Housing sales flat in April
By Krystle Chow, Ottawa Business Journal Staff
Thu, May 8, 2008 2:00 PM EST

Housing sales in Ottawa were somewhat flat in April, despite a five-per-cent increase in condominiums, according to a new report by the Ottawa Real Estate Board.

Members of the board sold 1,561 residential units last month, up 0.4 per cent from a year earlier, solely because of a gain in condominium sales to 318 units from 303. Single-detached housing sales fell by 0.7 per cent to 1,243 units.

However, sales were up from the previous month, when 1,086 units were sold in total.

"To say the spring market has arrived with a vengeance would be putting it mildly. Ottawa homebuyers are keeping our members very busy these days," said board president Heather Skuce in a statement, adding, "Home prices are still rising at a healthy, yet sustainable rate, compared to many major markets in Canada, which makes Ottawa a great place to buy or sell a home this spring."

The average price of all resale homes sold rose 6.5 per cent to $295,144, mainly because of continually rising prices in the freehold market, where prices increased by 7.3 per cent to an average of $316,757. Condominium prices also rose, albeit by a smaller amount, with the average price of a resale condominium growing 4.1 per cent to $210,661.


Email this story to a friend Printer Friendly Version


* To print this page, click on the "Printer Friendly Version" link above. When the new window opens, right-click with your mouse in the new window and select "Print".