During the month of July 2016, members of the Ottawa Real Estate Board sold 1,491 residential properties, compared to 1,430 in July of last year, an increase of 4.3% in properties sold.
Year to date the Ottawa real estate market has shown a 5.2% increase over the same time period compared to 2015.
It took an average of 84 days for a property to sell last month which is 8 days longer than the average in June and 6 days longer than in July 2015.
Of these 1,491 sales in June, 1,214 were freehold houses, and 277 were condominiums.
The average sales price for a freehold house sold last month, was $398,608 showing an increase of 0.9% over last year. While condominium average prices increase 1.8% from last year to $259,794.
2,412 new properties were listed for sale in July, bringing the total number of properties for sale to 7,922 a decrease of 14.7% from this time last year.
See more with charts breaking down the market movement in each segment at www.HomeTeamOttawa.com/Stats/