During the month of January 2016, members of the Ottawa Real Estate Board sold 601 residential properties, compared to 626 in January of last year, an decrease of 4% in total number of properties sold.

It took an average of 110 days for a property to sell last month which is 1 days longer than the average in December and 9 days shorter than in January 2015.

Of these 601 sales in January, 472 were freehold houses, and 129 were condominiums.

The average sales price for a freehold house sold last month, was $386,839, showing an increase of 4.6% over last year. While condominium average prices dropped 1.3% from last year to $247,205.

1,826 new properties were listed for sale in January, bringing the total number of properties for sale to 5,621 a decrease of 2.3% from this time last year.

View the break down of Sales, prices, Inventory and Time to Sell by category at HomeTeamOttawa.com