During the month of January 2018, members of the Ottawa Real Estate Board sold 712 residential properties,  compared to 664 in Jan 2017,  an increase of 7.2% of properties sold vs the previous year.

It took an average of 83 days for properties of all types to sell in January 2018 which is 26 days faster than the average in Jan 2017 and 3 days faster than the month before, Dec 2017.

Of these 712 sales, 539 were freehold houses, and 173 were condominiums.

The average sales price for a freehold house sold in January 2018, was $427,487 showing an increase of 8.8% over Jan 2017.  While condominium average prices dropped 8.6% from last year to $263,744.  (Which is not surprising as there was a spike in high end condo sales in Jan 2017.)

1,400 new properties were listed for sale in January 2018, bringing the total number of properties for sale to 3,734 a decrease of 22.8% from Jan of last year.  This is the lowest January inventory we have seen in the Ottawa resale real estate market since 2008.

See a breakdown of the different properties types on our Website HomeTeamOttawa.com