May 2009 Housing Sales Increase for the Second Month in a Row
For the second month in a row, the Canadian housing market has recorded an increasing number of sales in most areas around the country. Home purchases have increased as households have taken advantage of low interest rates and slightly lower home prices. While April sales remained lower than last year, the housing market gained momentum on a month-over-month basis. Current conditions have created one of the best buying opportunities in years. It has been the job of Realtors to successfully communicate to sellers to be more realistic with their prices, this combined with an all-time historically low interest rates have proven to Canadians that our real estate market is just as strong as ever.
Here are some hot off the press stats about Ottawa's very own real estate trends:
As of May 5, 2009: Members of the Ottawa Real Estate Board sold 1,594 residential properties in April through the MLS system compared with 1,560 in April 2008, an increase of 2.2%. There were 1,162 sales in March 2009.
The average price of residential properties, including condominiums, sold in April in the Ottawa area was $298,150, an increase of 1% over April 2008.
The average price for a condominium-class property was $216,502, an increase of 2.8% over April 2008.
The average price of a residential-class property was $318,900, an increase of 0.7% over April 2008.
For more stats and current market info visit my website http://www.bennettpros.com/Thank you!
