August Real Estate Sales Ottawa-

Courtesy of the Ottawa Real Estate Board September 2012

August sales take a mini-vacation
Members of the Ottawa Real Estate Board sold 1,141 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,328 in August 2011, a decrease of 14.1 per cent. The five-year average for August sales is 1,193.

August's sales included 248 in the condominium property class, and 893 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"The number of residential properties sold has decreased compared to August 2011, while the average price has slightly increased," indicates Ansel Clarke, President of the Ottawa Real Estate Board. "The new mortgage rules came into effect in early July, and this could be an explanation for the decrease in properties sold. Potential home buyers may be waiting to save a bit more money before purchasing a property. This summer, we also experienced exceptionally hot weather, which may be a factor in the market slow down. This August's sales are still in line with the five-year average, so the Ottawa market remains steady despite a small dip in units sold." Clarke also notes that the total number of year-to-date properties sold is up 2.8 per cent and the average sale price is up 2.2 per cent from this time last year.

The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $346,949, an increase of 2.5 per cent over August 2011. The average sale price for a condominium-class property was $272,367, an increase of 7.6 per cent over August 2011. The average sale price of a residential-class property was $367,661, an increase of 1.7 per cent over August 2011. The Board cautions that average sale 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 sale price is calculated based on the total dollar volume of all properties sold.

Prepare for Fall-

Fabulous Fall: Gardening Tips
Fall is a feast for the eyes with red, gold and bronze hues. While enjoying the trees in their tawny splendour, consider these simple tips to prepare your garden for the upcoming winter.
Grass
Although a carpet of leaves is part of autumn’s glory, don’t let them sit too long. Rake them frequently as grass needs oxygen and sunlight for proper growth. This is also the time to seed your grass for a thick lush lawn in the spring, and to keep pesky weeds out.
Leaves
Put leaves to work! Small leaves from birch, beech and silver maple trees (or shredded larger leaves) spread under shrubs and over soil will degrade into mineral nutrients and worms will turn them into fertilizer.
Pruning/Re-arranging Plants
Pruning in the fall is important. With leaves cleared you have a better view of your plants. Cut off dead and diseased branches. Remove diseased leaves from under roses (blackspot) and dispose of in the garbage (not your compost heap) or they’ll re-infect plants the following spring. If you decide to re-arrange plants or shrubs, move them while the earth is still warm so that the roots can take hold. Protect delicate shrubs with burlap.

Bulbs
If you want to see crocus, tulips and daffodils peeping through the soil in spring, now is the time to start planting. Buy the very best quality bulbs and you will be rewarded with showy blooms in the spring. Check with a local horticulturalist for native bulb options and ideal planting conditions.
Container Gardening
Fill your balcony or patio containers with fall flowers. Picture a pot filled with Vanilla Butterfly (marguerite daisy), with a background of Orange Sedge – this olive green grass turns orange in cool weather, finally fading to bronze. Want an instant conversation piece? Plant ornamental Kale (winter cabbage) in your container: its quirky look is an attention-getter.
Every season has its beauty, but a Canadian fall is spectacular – enjoy!

Summer 2012 Ottawa Update

Ottawa Market Performing Well-

Real estate sales ytd in Ottawa are up 5.7% in units sold and 2.7% in average sales price when compared to 2012 figures. Year to date sales volume is approximately 3 billion dollars an 8.5% increase over last year.

As we approach the Fall selling season you may be considering a sale and/or a purchase of properties. Should you or any one you know be planning to buy or sell I’d love to help. Just call or email me the referral details and I will do the rest.

Have a great rest of the summer and be sure to follow me on Facebook, Twitter and Linkedin, all accessible from www.ianponting.com   

Ottawa house prices post healthy second quarter gains

Price appreciation to cool modestly for the remainder of 2012 according to Royal LePage

OTTAWA, July 10, 2012 /CNW/ - The Royal LePage House Price Survey and Market Survey Forecast released today showed Ottawa has continued to sustain healthy year-over-year price appreciation for all housing types surveyed.

Prices for standard two-storey homes increased 5.5 per cent year-over-year to $392,000, while detached bungalows increased 4.9 per cent to $388,917. Standard condominiums rose 5.8 per cent to $259,667.
"Ottawa has a healthy local economy due to government employment and a thriving technology sector," said John Rogan, broker and manager of Royal LePage Performance Realty. "Despite the health of the local real estate market, Ottawa has witnessed several years of strong price appreciation and eventually the market has to wait until wages catch-up."
Royal LePage forecasts that the average home price in Ottawa will increase a healthy 3.5 per cent in 2012.
"Our forecast is for the full year of 2012 compared to 2011. Since the housing market has already exceeded price expectations, albeit modestly, price appreciation for the remainder of the year should slightly soften," said Rogan.
Rogan noted that the continuation of expected low interest rates and the recent increase in inventory, will be a good opportunity for buyers.
Nationally, in the second quarter, standard two-storey homes rose 4.7 per cent year-over-year to $408,423, while detached bungalows increased 5.5 per cent to $376,311. Average prices for standard condominiums increased 3.3 per cent to $245,825. During this period, signs from across the country clearly indicated that the national housing market was at a turning point, with some major regions continuing to grow unabated while others peaked and began to pull back for the first time in three years.
"We have had three years of solid house price appreciation in almost all regions of the country," said Phil Soper, president and CEO of Royal LePage Real Estate Services. "Confidence in Canada's real estate market is sound, but home prices cannot grow faster than salaries and the underlying economy indefinitely. Some regions have reached or perhaps even exceeded the current upper level of price resistance as buyers have embraced an era of historically low mortgage rates."
The first-time buyer segment of the population, which represents up to half or all transactions and where activity strongly correlates to low interest rates, is expected to be slowed by recent regulatory changes that will reduce access to insured mortgages.
"The most recent set of mortgage changes, the fourth in four years, is also the most aggressive. The cumulative impact of these new regulations has created a significantly higher hurdle for young buyers seeking their first home and comes at a time when the market was slowing of its own accord. The timing of this intervention was unfortunate," added Soper.
About the Royal LePage House Price Survey
The Royal LePage House Price Survey is the largest, most comprehensive study of its kind in Canada, with information on seven types of housing in over 250 neighbourhoods from coast to coast. This release references an abbreviated version of the survey which highlights house price trends for the three most common types of housing in Canada in 90 communities across the country. A complete database of past and present surveys is available on the Royal LePage Web site at www.royallepage.ca. Current figures will be updated following the complete tabulation of the data for the second quarter 2012. A printable version of the second quarter 2012 survey will be available online on August 9, 2012.
Housing values in the Royal LePage House Price Survey are Royal LePage opinions of fair market value in each location, based on local data and market knowledge provided by Royal LePage residential real estate experts.
About Royal LePage
Serving Canadians since 1913, Royal LePage is the country's leading provider of services to real estate brokerages, with a network of 14,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women's & children's shelters and educational programs aimed at ending domestic violence. Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE.
For more information, visit www.royallepage.ca.
For further information:
Laura Crochetiere
Fleishman-Hillard Canada
(416) 598-5790
laura.crochetiere@fleishman.ca
Tammy Gilmer
Director, Global Communications & Public Relations
Royal LePage Real Estate Services
(416) 510-5783

June sales indicate consistency in the Ottawa market

Ottawa Real Estate Board July 5, 2012

Members of the Ottawa Real Estate Board sold 1,660 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,719 in June 2011, a decrease of 3.4 per cent.

June's sales included 365 in the condominium property class, and 1,295 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"Although there is a slight decrease in the number of residential properties sold this June, compared to June 2011, it seems to be the norm throughout the years," says Ansel Clarke, President of the Ottawa Real Estate Board. "For the past 10 years, with the exception of June 2011, sales have consistently and marginally decreased from May to June. This shows stability in the market, and also represents a continued steady market."

The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $352,800, a slight decrease of 0.1 per cent over June 2011. The average sale price for a condominium-class property was $278,447, an increase of 0.8 per cent over June 2011. The average sale price of a residential-class property was $373,756, a slight decrease of 0.4 per cent over June 2011. The Board cautions that average sale 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 sale price is calculated based on the total dollar volume of all properties sold.

I'm always Right..Right!!

The Insidious Need to Be Right

by Jackie Lapin

Growing up in my house(Jackie Lapin's) was filled with love. However it was not peaceful home. The reason was:   

Both of my parents always wanted to be right and to have the last word. They argued

incessantly. But it was usually over trivial things ... what night was it they went to the movies, how  was the best way to feed the dog, what to spend money on, where to go for dinner. ..etc. It was  constant bickering. They defended it by saying that arguing was essentially opening the pressure  valve in their marriage, so that they didn't harbor any lingering ill feelings toward each other.
  But the bickering didn't affect just them. I left home as early as I could, and at one point stopped speaking to them for six months, saying my time with them was too short to be spent listening to them argue over virtually everything-and nothing. And sometimes when they were with friends,you could see the discomfort in other people's eyes when my parents got into it.
My point here is that there is always a price for insisting on being right. The insidious need to always be right can destroy relationships, destroy reputations, destroy work environments, destroy lives and destroy the peace of everyone around you.
Certainly, there are times when standing up for what you believe is right is indeed the  right thing   to do. But there are other times When it isn't.

When:
• It pays diplomatically to let other people be right
• Matters aren't worth arguing about

• You are just insisting on your own way just to fee! powerful and fill your own need to dominate
• The cost of being right outweighs the point of being right
• You are being defensive because you feel attacked (regardless of whether you really are

being attacked or not)

• You insist on standing your ground because  vou are never wrong!

• You are defending your position because you think  you know what is right for other people

• You habitually have to have the last word and will beat people into the ground until they

agree with you

Please check to see if you are guilty of insisting on being right at the cost of your relationship to others. Allow people the rightness of their opinions, and even sometimes when their facts are wrong, you don't have to be the one to set them straight. Mention it once, but don't force it down their throats. And if people are not in full integrity with Universal Laws when they insist on their rightness, allow the Universe to give them a course correction ... it doesn't need to be you.

Use your diplomacy and recognize when there is nothing to be gained by being right.

Let your choices be toward harmony with all, and allow yourself to be a force for equanimity and peace in the world.

Jackie Lapin is the world leader in educating, mentoring and coaching people on Practical  

Conscious Creation. She is the bestselling author of ''The Art of Conscious Creation; How
You Can Transform the World" and "Practical Conscious Creation: Daily Techniques to
Manifest Your Desires." Filled with specific and imaginative practices, Practical Conscious
Creation offers 70 articles with step-by-step actions to achieve greater empowerment and

a more satisfying lifestyle. To learn how to become a better , faster manifestor, secure a

free chapter of "Practical Conscious Creation" or receive Jackie Lapin's daily manifesting

tips, visit www.jackielapin.com         

 

 

 

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Beware and Be Wary-

Please note employer assisted guaranteed home sales plans are light years removed from the following. Employer plans are designed to actually assist and benefit the employee.

Guaranteed home sales plans are not the good deal for the seller proponents advertise them to be. They are a gimmick to give a sales representative a foot in the door. Once at the "kitchen table" the plan is explained and the conditions detailed and more often than not the seller rejects the plan.

 

BEWARE 'Guaranteed Sale' Programs.

A NOTE ABOUT 'GUARANTEED SALE' PROGRAMS

From: Zillow.com

If the real estate agent or broker you're interviewing offers you a 'guaranteed sale' program as an enticement to list with them, ask yourself three questions:

1) How much below what your home is really worth will they have to price your home to get it sold in the timeframe they are promising? And if the super-low price doesn't net a buyer in the allotted time,

2) How much of your equity are you giving up when the broker 'buys' you out at the sales price THEY picked? Finally,

3) How will you feel if your home sells for tens of thousands of dollars more than you received shortly after your broker buy-out?

If you've thought through this and are willing to potentially leave that kind of money on the table, then a guaranteed sale program may be right for you. But if you're not, your best bet is to get the finest representation available in your marketplace.

Pick the agent that you feel is the most professional, competent and compatible with you. AFTER you've picked your agent, THEN price your home.

There are future consequences for every decision you make with regards to selling your home. Let us show you how our second-to-none listing consultation can prepare you to tackle these consequences head on and with your eyes 'wide open.'

Be Wary of GUARANTEED HOME SALE Programs

Thanks to: Al Maxwell Coldwell Banker-Marietta Georgia

You may have seen the ads..."YOUR HOME SOLD IN 90 DAYS OR WE BUY IT!" or "IF I CAN'T SELL YOUR HOME, I'LL BUY IT!"

It sounds like a great offer and certainly worth checking out, right? Well, most ads that sound too good to be true usually are. Some consider a Guaranteed Home Sale Program to be a scam. Programs like these are used by some agents to get their foot into the door (and your living room) and then lay out the many strings that are attached.

Here's a basic scenario and rules for these programs:

YOU MUST BUY ONE OF THE AGENT'S OTHER LISTINGS: Odds are you probably won't want to buy one of his/her few homes that they currently have. Most agents carry 1-10 listings. You have to like & buy one of these homes to qualify.

 

THE "GUARANTEED PRICE" WILL BE PRE-DETERMINED: The "Guaranteed price" may be much lower than what you want for it. You may list it to the general market for $425,000, but the price that is "Guaranteed" may be significantly less (usually 75% or 80% of the original list price). This Guaranteed price will be put in writing.

 

GUARANTEE PROGRAM FEE: Once you agree on a price (above), there may be a FIVE PERCENT GUARANTEED SALE "FEE" which will come off the (low) price that you agreed upon! This nets you 5% less than even the agreed upon price.

 

MAXIMUM ALLOWED PRICE: Many times, they will not take a house priced over $300,000 or $400,000.

 

As mentioned, the attractive sell line "Your Home Sold In 90 Days Or We Buy It" gets an agent into many homes to lay out the GUARANTEED PLAN. Most home sellers don't go for it once they see the details, but they go ahead and list under a normal agreement.

 

 

March Sales Ottawa

Source: Ottawa Real Estate Board

Members of the Ottawa Real Estate Board sold 1,396 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,240 in March 2011, an increase of 12.6 per cent. The five-year average for March sales is 1,276.

 

March's sales included 277 in the condominium property class, and 1,119 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

 

"Along with the increasing temperatures and the arrival of spring, March saw a substantial increase in residential sales," notes Ansel Clarke, President of the Ottawa Real Estate Board. "With interest rates continuing to be low, it is no surprise that the market remains healthy and balanced."

 

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $353,684, an increase of 2.1 per cent over March 2011. The average sale price for a condominium-class property was $267,308, an increase of 5.7 per cent over March 2011. The average sale price of a residential-class property was $375,065, a slight decrease of 0.2 per cent over March 2011. The Board cautions that average sale 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 sale price is calculated based on the total dollar volume of all properties sold.

Bathroom décor blues?

All it takes is a little creativity to go from drab to fabulous

 

By: Ian Ponting

 

Are you getting that same drab feeling every time you enter your bathroom? Perhaps it's time to make some changes. Redecorating a bathroom does not always require extensive work or money. In fact, significant changes can be accomplished with just a few accessories and a creative touch. So stop researching contractors, worrying over expensive renovations and fretting about what you'll do without your bathroom while it is under repair – and consider implementing these quick, inexpensive and imaginative redecoration techniques.         

A good place to begin is with your bathroom lighting. Adding more light to a room can actually give the illusion that the room is larger than it actually is. One simple way to do this is by increasing the size of the light fixtures. For example, if you have a three light fixture, make your room brighter with a five light fixture, or increase your light bulb size to achieve the desired brightening effect. If there is ample counter space or room for furniture, lighting can be greatly improved with a small table lamp, which also adds elegance and warmth.

Furniture usually only works in bathrooms that are large enough to not appear cramped. But if you are blessed with a big bathroom, try moving an old cupboard or chest into an empty corner. It can add style and storage at the same time. A chair or bench also adds panache and functionality to large bathrooms, as it provides the perfect place to sit while manicuring your nails or waiting for a bath to draw.

If you have a smaller bathroom, limit the amount of accessories lying around. Storage space is likely a premium, so finding room for a cabinet or a bin is probably impossible. In this case, consider installing a shelf or two on the wall behind your toilet where you can store extra toilet paper and towels, as well as smaller toiletries, like shampoo and hairbrushes. To keep these items organized use display containers, which can often be found in a kitchen. For example, a ceramic jar can hold cotton balls while mugs can be used for holding makeup brushes. Baskets are also great for hiding miscellaneous items.

If your bathroom can benefit from a new colour, why not spend a weekend painting. Before you begin, decide if you'll be matching the wall colour with the rugs and fabrics already in your bathroom, or if you'll be purchasing new materials. An easy and imaginative alternative to painting is stencilling, which can be done around the ceilings, window areas and mirrors. Artwork can also do wonders to spice up bare bathroom walls. Try some inexpensive framed prints, which can be used to complement any decorating theme.

There are an assortment of affordable but luxurious touches that can be added to your bathroom. Radio or compact disc players can be used to play soothing sounds and add tranquility while scented candles can provide a relaxed and refreshing aroma. A built-in hair dryer may at first seem lavish, but think about how much you appreciate it in a hotel restroom and you might find that it is worth the money.

So if you feel it is time to give your bathroom a new and improved look, remember that it doesn't have to include bulldozers and bricks, just a bit of creative thinking.

 

 

 

Canadian Housing Market to Remain Steady

OTTAWA, February 13, 2012 — Housing markets are expected to remain steady in 2012 and 2013, according to Canada Mortgage and Housing Corporation's (CMHC) first quarter 2012 Housing Market Outlook, Canada Edition¹.

"With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011," said Mathieu Laberge, Deputy Chief Economist for CMHC.

Housing starts will be in the range of 164,000 to 212,700 units in 2012, with a point forecast of 190,000 units. In 2013, housing starts will be in the range of 168,900 to 219,300 units, with a point forecast of 193,800 units.

Existing home sales will be in the range of 406,000 to 504,500 units in 2012, with a point forecast of 457,300 units. In 2013, MLS^®2 sales are expected to move up in the range of 417,600 to 517,400 units, with a point forecast of 468,200 units.

The average MLS^® price is forecast to be between $330,000 and $410,000 in 2012 and between $335,000 and $430,000 in 2013. CMHC's point forecast for the average MLS^® price is $368,900 for 2012 and $379,000 for 2013. The moderate increases in the average MLS^® price are consistent with the balanced market conditions that occurred in 2011, and that are expected to continue in 2012 and 2013.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

CMHC Market Analysis standard reports are also available free for download at http://www.cmhc.ca/housingmarketinformation.

¹ The forecasts included in the Housing Market Outlook reflect information available as of January 18, 2012. Where applicable, forecast ranges are also presented in order to reflect financial and economic uncertainty.

² Multiple Listing Service^® (MLS^®) is a registered trademark owned by the Canadian Real Estate Association.

Information on this release:

Charles Sauriol, Media Relations
613-748-2799
csauriol@cmhc-schl.gc.ca

Better Tasting Beer-

Here's an example from a brewery booklet from the 1950's:

"CLEANLINESS OF GLASSES Keep special glasses for beer alone and *nothing else*. Never wash beer glasses with plain soap - use a simple liquid household detergent, rinse and allow to drain without drying. Do not dry beer glasses with a towel as the laundering chemicals (such as soaps and starches) which are left in them will leave a harmful film on the glasses and this will break down the head very rapidly.

"When serving beer, always use fresh glasses which have been dipped in cold water."

 

A perfectly poured beer requires a properly cleaned glass. As a starting point, glassware must be free of visible soil and marks. A beer-clean glass is also free of foam-killing residues and lingering aromatics such as sanitizer.

A freshly cleaned glass should be used for every pour. We recommend that accounts never refill a used glass.

Two systems deliver effective beer glass cleaning:

1. Manual cleaning in the three-tub sink, or

2. Dedicated automatic glass washers.

Manual or Hand Cleaning in the Three-Tub Sink

1. Clean sinks and work area prior to starting to remove any chemicals, oils or grease from other cleaning activities.

2. Empty residual liquid from the glass to a drain. Glasses should NOT be emptied into the cleaning water as it will dilute the cleaning solutions.

3. Clean the glass in hot water and suitable detergent. Detergent must not be fat- or oil-based. Detergents suitable for beer glass cleaning are available through restaurant and bar suppliers.

4. Scrub the glass with cleaning brushes to remove film, lipstick and other residue. Rotate the glass on the brushes to scrub all interior and exterior surfaces. Be sure to clean the bottom of the glass.

5. Rinse glass bottom/butt down in cold water. Water for the rinse should not be stagnant but should be continually refreshed via an overflow tube. If time permits, a double dunk is recommended and preferred.

6. Sanitize in third sink filled with hot water and an appropriate sanitizer.
Sanitizers typically contain chlorine so check the pH and chlorine content of the sanitizing bath periodically to maintain proper conditions. Water temperature should be at a minimum 90ºF. Chlorine concentration should be 100 ppm or at the required local health department concentration.

Automatic glass washing machines

1. Dedicate this machine to cleaning bar and beer glassware only. Do not subject it to food or dairy product residue.
   
2. Use correct detergent, sanitizer and rinse agents in properly metered amounts.
   
3. Check concentrations once each day using kits or follow detergent and sanitizer supplier recommendations.
   
4. Use water temperatures of 130º to 140ºF. High temperature machines designed to operate at 180ºF can be used without additional chemical sanitizers. Please check your health department for local requirements.
   
5. Maintain the machine to assure good water flow through the system including free flow through each nozzle and washer arm.
   
6. Regularly service the machine based on the manufacturer's or installer's guidelines.
   

Handling Clean Glassware

1. Keep glassware clean and odor free after washing:
   
2. Air-dry glassware. Drying glasses with a towel can leave lint and may transmit germs and odors.
   
3. Dry and store glasses in a stainless-steel wire basket to provide maximum air circulation. Similar deeply corrugated baskets or surfaces also work.
   
4. Do not dry or store glassware on a towel, a rubber drain pad or other smooth surface, as they can transfer odors to the glass and slow the drying process.
   
5. Store glassware in an area free of odors, smoke, grease or dust.
   
6. Store chilled glasses in a separate refrigerator away from food products such as meat, fish, cheese or onions as they can impart an odor to the glasses.
   
7. Store beer glasses dry in a chiller. Never use a freezer. Chill glasses at 36° – 40ºF.
   

January News Release - Resale Housing Off to a Typical Start

Courtesy of The Ottawa Real Estate Board February 2012

Members of the Ottawa Real Estate Board sold 684 residential properties in January through the Board's Multiple Listing Service#&174 system compared with 677 in January 2011, an increase of one per cent. The five-year average for January sales is 652.

Of those sales, 138 were in the condominium property class, while 546 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"The results indicate it's been a typical month of January for the Ottawa and area resale housing market" said Board President Ansel Clarke. "It is interesting to note that the inventory of properties for sale is considerably higher than a year ago, offering a lot of choice to buyers."

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $349,415, an increase of 5.6 per cent over January 2011. The average sale price for a condominium-class property was $253,210, an increase of 6.8 per cent over January 2011. The average sale price of a residential-class property was $373,731, an increase of 5.5 per cent over January 2011. The Board cautions that average sale 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 sale price is calculated based on the total dollar volume of all properties sold.