During the month of May 2018, members of the Ottawa Real Estate Board sold 2,279 residential properties, compared to 2,294 in Max 2017, a decrease of 3% in the number of properties sold vs the previous year.
It took an average of 51 days for properties of all types to sell in May 2018 which is 17 days faster than the average in May 2017 and 3 days longer than the month before, April 2018.
Of these 2,279 sales, 1,794 were freehold houses, and 485 were condominiums.
The average sales price for a freehold house sold in May 2018, was $464,401 showing an increase of 6.3% over May 2017. While condominium average prices rose 3.4% from last year to $281,247.
3,517 new properties were listed for sale in May 2018, bringing the total number of properties for sale to 5,387 a decrease of 16.9% from May of last year.
The Tulip Team Blog 