Condo sales rise in Ottawa — other home sales steady
Ottawa’s real estate market was steady for the month of July with an increase of condominium sales which is a positive sign for sellers in the condominium market.
If you look at the comparison from last year, where 261 condos sold for the month of July 2014, 2015 has had a positive 3.8 percent increase in sales, indicating an upward trend. The average price for condos has dropped 2.6 per-cent from last year, to a new average price of $255,102. The average price for other homes went up 4.5 per-cent, from July 2014 which had an average price of $394,899. The overall properties sold showed a 1.2 per-cent decline from last year, even though this was Ottawa's second busiest July.
As expected, the top sales of homes are within the $300,000 to $400,00 range, which represent the townhome & single family type dwellings. This is followed shortly by the $200,000-$300,000 range which represents the entry level homes such as condominiums. The $400,000-$500,000 range homes comes in third, representing executive style homes or properties located in central Ottawa.