Number of homes sold close to record in March

Signs of life are appearing in the Ottawa housing market as the number of sales approached a record in March, the Ottawa Real Estate Board reported Wednesday.

“We’re seeing a lot more multiple offers than we’ve experienced in a while,” said board president Rick Eisert, adding that average price gains were an identical 5.3 per cent year over year for both residential and condominium sales.

The average sale price in March was $415,467 for residential houses and $272,597 for condominiums.

Ottawa realtors sold 1,171 residential properties and 314 condominiums in March through the board’s multiple listing service. Combined, the total was just shy of the record 1,498 sold in March 2010 — and up 28 per cent from March 2016.

Sales of condominiums were particularly robust last month — up nearly 43 per cent year over year while the number of residential units sold was up just under 25 per cent compared to March 2016.

Among the Ottawa real estate districts reporting the largest yearover-year gains for single-family homes was Hunt Club/Windsor Park (up 12 per cent in March 2017 to $447,400), Manotick area (up 10.6 per cent to $428,000), Hintonburg (up 8.8 per cent to $411,300) and Stittsville area (up 7.8 per cent to $402,100).

Rockcliffe Park, the city’s wealthiest enclave, saw prices for single-family homes in March decline slightly year over year to $1.2 million.