During the month of March 2016, members of the Ottawa Real Estate Board sold 1,166 residential properties, compared to 1,200 in March of last year, a decrease of 2.6% in total number of properties sold.
It took an average of 88 days for a property to sell last month which is 11 days shorter than the average in February and 8 days longer than in March 2015. (due to a change in tracking OREB cautions they are still seeking to confirm this.)
Of these 1,166 sales in March, 945 were freehold houses, and 221 were condominiums.
The average sales price for a freehold house sold last month, was $394,951 showing an increase of 2.0% over last year. While condominium average prices increased 2.4% from last year to $258,714.
3,202 new properties were listed for sale in March, bringing the total number of properties for sale to 7,314 a decrease of 5.8% from this time last year.