Ottawa real estate agents sold 1,329 home in August, which is an increase of almost 21% over August of 2010 (1,099 homes were sold).

The 1,329 homes that were sold can be further divided up as follows:

• 1,044 residential homes, and
• 285 condominiums in the Ottawa area.

The average sale price of a home in Ottawa was $337,372, which includes both residential and condominium units.

The average sale of a residential unit in August was $360,405. which represents an increase of 6.3% over August of 2010.

The average sale of a condominium unit in August was $252,999, which is 3.1% higher than condos sold a year ago.

Board President, Joann Tibbles notes that home were on the market longer in August than they were in July, but attributes that to the low interest rate leading to more buyers and, therefore, a longer selling time.

For more information on Ottawa’s changing housing market, contact one of our professional sales representatives at 613-288-0090.