OTTAWA - December 6, 2005- According to statistics released today by the Ottawa Real Estate Board, 908 residential properties were sold by members of the Board through the Multiple Listing Service® in November compared with 932 in October 2005 and 880 in November 2004. "We have several observations to make following a review of the key indicators at the end of November, one being that the sales activity continues to vary among different areas of the city," said Board President Jeff Greenberg. "Our reports further indicated that approximately 44% of November sales were within the $200,000 to $300,000 price range. There were 1447 new listings in November which represent almost a 10% increase in inventory over November 2004. The average days on market for properties sold in November increased marginally to 50 days." "Notwithstanding a slight decrease in the number of residential properties sold this year, 12,482 versus 12,524 in 2004, we continue to experience a favourable real estate market," continued Mr. Greenberg. 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. |
