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Ottawa real estate market stabilizes in coming months

A Conference Board economist stated in a recent article for the Ottawa Business Journal that the Ottawa real estate market will be "pretty decent".

These comments came after the Board's October resale index was released, showing that the average housing price increase of 3% was just below the rate of inflation, which was 3.3% in October.

The index also showed that for every 1,000 homes listed for sale, 570 were sold in October.  This represents a sales to new listing ratio of 0.570.  A balanced market range is defined as anywhere between 0.393 and 0.709.

For more information on this trend, read the entire Ottawa Business Journal article on the stability of the Ottawa housing market.

For more up to date market statistics, visit our Ottawa real estate website or contact one of our Ottawa Sales Representatives at 613-288-0090.

Posted Monday, November 29, 2010 by Martin Bouma