During the month of February 2018, members of the Ottawa Real Estate Board sold 979 residential properties, compared to 1,002 in Feb 2017, a decrease of 2.3% in properties sold vs the previous year. The president of the Ottawa Real Estate Board reports “There is no doube our sales numbers would have been much higher if we had more properties available for sale.”
It took an average of 77 days for properties of all types to sell in January 2018 which is 17 days faster than the average in Feb 2017 and 7 days faster than the month before, Jan 2018.
Of these 979 sales, 729 were freehold houses, and 250 were condominiums.
The average sales price for a freehold house sold in February 2018, was $429,600 showing an increase of 2.7% over Feb 2017. While condominium average prices rose 5.6% from last year to $273,174.
1,774 new properties were listed for sale in February 2018, bringing the total number of properties for sale to 4,092 a decrease of 22.3% from Feb of last year.
See a full breakdown of property classes & market activity for the Ottawa real estate market on our website http://www.HomeTeamOttawa.com