Ottawa Home Sales Drop, But Prices Rise in February

Gay Ottawa Real EstateSales of resale homes fell sharply in February as the market returned to more normal winter buying patterns, according to the Ottawa Real Estate Board.

The board said 936 resale homes were sold through the Multiple Listing Service during the month, down 9.1 per cent from the 1,030 that sold during February 2010.

“Once again we’re seeing sales numbers very close to the five-year average for February,” board president Joanne Tibbles said Friday. “It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it.”

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