During the month of December 2017, members of the Ottawa Real Estate Board sold 771 residential properties, compared to 711 in 2016, an increase of 8.4% of properties sold vs the previous year.
Over the course of 2017 17,083 homes & condos sold through the Ottawa Real Estate Board, and increase of 10% from the 15,526 in 2016.
It took an average of 86 days for properties of all types to sell in December 2017 which is 37 days faster than the average in Dec 2016 and 14 days faster than the month before, Nov 2017. Condos sold this month were on the market an average of 104 days, which is 33 days shorter that the previous year and freeholds sold 39 days shorter than the year before.
Of these 7719 sales, 566 were freehold houses, and 205 were condominiums.
The average sales price for a freehold house sold in December 2017, was $434,098 showing an increase of 3.4% over Dec 2016. While condominium average prices dropped 3.0% from last year to $255,335.
821 new properties were listed for sale in December 2017, bringing the total number of properties for sale to 3,583 a decrease of 23.1% from Dec of last year. This is the lowest inventory we have seen in the Ottawa resale real estate market since Dec 2011.
See a breakdown by type of property as well as the 59 year history of Ottawa House Prices at our website HomeTeamOttawa.com/stats/
The Tulip Team Blog 