Ottawa’s residential resale market saw an increase of 6.5 per cent in August over the same month last year.

The Ottawa Real Estate Board reports 1,219 residential properties were sold last month in comparison to 1,145 in August 2012. The five-year average for August is 1,202.

August’s sales included 272 in the condominium property class. The average price was $257,494, down 5.4 per cent year-to-date. This class includes any property that is registered as a condominium, including co-operatives, life leases and timeshares.

“Although the Ottawa market has been slow moving since the beginning of the year, (August’s) numbers are quite the opposite,” says the board’s president, Tim Lee. “With both residential and condo units sold up a respectable amount since last year, it breaks the downward cycle.”