Stable and steady as she goes...

A slowdown in the market or business as usual? The Ottawa Real Estate Board (OREB) released sales figures for September along with a dose of reassurance for both buyers and sellers. To summarize:
  • 993 = number of properties sold in September 2012 through MLS (versus a near record high of 1201 in September 2011)
  • $351,585 = average sales price in September 2012 (versus $335,623 in September 2011)
  • 11,329 to 14,783 = range of number of properties sold annually through MLS from 1999 to 2011
  • ~11,700 = number of properties sold from January to September of 2012
  • “Since 1956 the average price in the Ottawa area has decreased only five times year over year and has increased by 15 per cent or more only five times as well. The Ottawa market can be characterized as stable and steady although there are pockets of our market area where we see larger increases in price.”