Condo Crazy!!

Condo sales drive resale market in October

1,062 residential properties were sold in October compared with 1,038 in
October 2010, an increase of 2.3 per cent. The five-year average for October
sales is 1,071.

"Condos were the main driver of resale home sales in October, with condo
sales up 14.5 per cent from the same month in 2010, whereas residential
property sales numbers were near-identical to last year's," said Board
President Joanne Tibbles. "We've been hearing a lot about the rising
popularity of condos in Ottawa and these numbers certainly support that, but
it's just one piece of our steady resale market, with sales very near the
five-year average for October. Also, listing inventory and days on market
are both up slightly as we move towards the end of the year," she added.

The average sale price of residential properties, including condominiums,
sold in October in the Ottawa area was $337,797, an increase of 2 per cent
over October 2010. The average sale price for a condominium-class property
was $259,316, a decrease of 1.5 per cent over October 2010. The average sale
price of a residential-class property was $362,341, an increase of 3.7 per
cent over October 2010.

Rolando Di Labio

Rolando Di Labio

Sales Representative
CENTURY 21 Explorer Realty Inc., Brokerage*
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