Last month, August 2020, members of the Ottawa Real Estate Board sold 2,017 residential properties, compared to 1,725 in August 2019, an increase of 16.9% in the number of properties sold vs the previous year. Year to date Jan-Aug we have had a -11.2% decline in total sales compared to Jan-Aug 2019
It took an average of 23 days for properties of all types to sell in August 2020 which is 19 days shorter than the average in August 2019 and 6 days shorter than the month before, July 2020.
Of these 2,017 sales, 1,576 were freehold houses, and 441 were condominiums.
The average sales price for a freehold house sold in August 2020, was $592,548 showing an increase of 22.4% over July 2019. While condominium average prices rose 24% from last year to $383,640.
2,505 new properties were listed for sale in July 2020 which is a 24% increase compared to August 2019, bringing the total number of residential properties for sale to 1,892 a decrease of 44% from August of last year.
Learn more at TheTulipTeam.com/Stats/