During the month of August 2017, members of the Ottawa Real Estate Board sold 1,538 residential properties, compared to 1,481 in 2016, an increase of 3.8% of properties sold vs the previous year.
It took an average of 72 days for properties of all types to sell in August 2017 which is 17 days faster than the average in Aug 2016 and 4 longer than the month before, July 2017.
Of these 1,538 sales, 1,179 were freehold houses, and 359 were condominiums.
The average sales price for a freehold house sold in August 2017, was $420,335 showing an increase of 7.6% over August 2016. While condominium average prices dropped 0.4% from last year to $270,768.
2,191 new properties were listed for sale in Aug, bringing the total number of properties for sale to 5,691 a decrease of 23.1% from Aug of last year.