During the month of October 2018, members of the Ottawa Real Estate Board sold 1,383 residential properties, compared to 1,237 in Oct 2017, an increase of 11.8% in the number of properties sold vs the previous year.
It took an average of 60 days for properties of all types to sell in October 2018 which is 12 days shorter than the average in Oct 2017 and 4 day shorter than the month before, September 2018.
Of these 1,383 sales, 1,059 were freehold houses, and 324 were condominiums.
The average sales price for a freehold house sold in October 2018, was $449,005 showing an increase of 5.7% over Oct 2017. While condominium average prices rose 0.6% from last year to $271,350.
1,732 new properties were listed for sale in October 2018, bringing the total number of properties for sale to 3,948 a decrease of 21.9% from Oct of last year.