Last month, July 2020, members of the Ottawa Real Estate Board sold 2,189 residential properties, compared to 1,838 in July 2019, an increase of 19.1% in the number of properties sold vs the previous year.
It took an average of 29 days for properties of all types to sell in July 2020 which is 13 days shorter than the average in July 2019 and 1 day shorter than the month before, June 2020.
Of these 2,189 sales, 1,646 were freehold houses, and 543 were condominiums.
The average sales price for a freehold house sold in July 2020, was $585,084 showing an increase of 20.1% over July 2019. While condominium average prices rose 19.4% from last year to $357,762.
2,488 new properties were listed for sale in July 2020 which is a 5.6% increase compared to July 2019, bringing the total number of residential properties for sale to 1,783 a decrease of 51.8% from July of last year.
Year to date sales sit at 9,914 a 15.2% decline compared to Jan-Jul of 2019 while the YTD average price for Residential properties is up 15.7% to $560,836 and for Condominiums $352,847 an increase of 18.2%