The numbers published by the Ottawa Real Estate Board this week for the first month of 2010 are out and they confirm what most already knew that The Real Estate selling year came out flying for January. The president of the Ottawa Boards monthly newsletter highlighted the fact that there was 713 units changed hands with 156 in the condominim/co-op or life lease category and 557 in the residential freehold category. This reflects an increase over January 2009 of 34.8 percent and probably back to the sales level pre US housing market meltdown.
The average prices appear, according to Pierre de Varennes current president of the OREB, to be up with an average single family price of $338, 244 and $259, 273 in the multi condo market. That is an overal average of $320,966.! Now we always have to factor in the pool of which the listings came from to create this average and it may only give us an idea of overall trend and not be used in any specific neighbourhood. It would be best to look carefully in the area you live with your real estate professional to determine suggested pricing for your home if you are thinking of listing.
We are off to an incredible start to 2010 and I will be back next month to see if we spend loads of time in front of the television watching Canada collect Gold at the Olympics or will we be out buying and selling houses?