Ottawa resale homes rally in final half of 2013
OTTAWA — A strong second half of 2013 helped push resale homes figures toward 2012 levels, as the Canadian economy showed signs of improvement.
According to the Ottawa Real Estate Board, a total of 13,873 resale homes were sold in 2013, a 3.2-per-cent decrease from the 14,326 sold in 2012.
However, while the number of homes sold in 2013 dipped, the average selling price of those units rose by 1.6 per cent when compared to 2012.
Condominiums were hit hardest during the year, 2,867 units sold in 2013, a six-per-cent drop from the 3,049 sold in 2012. Average selling prices also fell, as demand shifted to other affordable housing choices, including row homes and detached housing. The average selling price of a condominium property fell to $262,917, a 1.9-per-cent drop from the $268,108 average price units were selling for last year.