Review of May 2019
During the month of May 2019, members of the Ottawa Real Estate Board sold 2,423 residential properties, compared to 2,271 in May 2018, an increase of 6.6% in the number of properties sold vs the previous year.
It took an average of 37 days for properties of all types to sell in May 2019 which is 14 days shorter than the average in May 2018 and 8 day shorter than the month before, April 2019.
Of these 2,423 sales, 1,869 were freehold houses, and 554 were condominiums.
The average sales price for a freehold house sold in May 2019, was $493,691 showing an increase of 6.4% over May 2018. While condominium average prices rose 5.8% from last year to $297,731.
3,226 new properties were listed for sale in May 2019, bringing the total number of properties for sale to 3,896 a decrease of 27.6% from May of last year.