Ottawa, February 6, 2007: Members of the Ottawa Real Estate Board sold 763 homes in January through the Board's Multiple Listing Service® system, compared with 647 in January 2006. There were 682 sales in December 2006.
"This year is tied with 2002 for the highest number of sales on record for the month of January, possibly due to the warmer temperatures that Ottawa experienced for the first half of the month," said Board President Diane Hatfield. "Both the residential and condominium classes are showing strong increases over last January, and the average sale price has continued to rise as well. It's an excellent start to the year for Ottawa's residential real estate market."
The average price of the homes sold in January through the MLS® system in the Ottawa area was $260,374, an increase of 6.3% over January 2006. The Board cautions that average price
information can be useful in establishing trends over time but should not be used as an indicator
that specific properties have increased or decreased in value. The average price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of 2,200 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.
The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board's internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.mls.ca and www.ICX.ca. Information about listings and open houses is also available in the Board's weekly newspaper, Ottawa Real Estate Guide.
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