Citizen News Services April 26, 2010
With more homes available to buyers, Ottawa is among Canadian cities returning to a balanced real estate market, the Conference Board of Canada reported Friday. The research group said 25,835 resale homes were available in Ottawa last month through the industry's Multiple Listing Service, a rise of 12.9 per cent over March 2009. Across Canada, listings rose by at least 10 per cent in 20 of 28 markets. The board said the average price of an existing home in Ottawa rose 15 per cent to $328,807 in the past 12 months, but predicted that the increased supply will trim future increases to five per cent. In Gatineau, where the average price reached $215,060, listings slipped by 2.5 per cent and the board forecast price increases of seven per cent.
NOTE: CORRECTION: According to the Ottawa Real Estate Board, there were 3,192 residential properties and 758 condominiums available for sale in Ottawa at the end of March. The figure of 25,835 resale homes available in Ottawa last month, provided by the Conference Board of Canada, was annualized on a seasonally adjusted basis.
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