Last month, October 2020, members of the Ottawa Real Estate Board sold 2,146 residential properties, compared to 1,604 in October 2019, an increase of 33.8% in the number of properties sold vs the previous year.
Year to date Jan-Oct we have had a -1.2% decline in total sales compared to Jan-Oct 2019
It took an average of 19 days for properties of all types to sell in October 2020 which is 22 days shorter than the average in October 2019 and 4 days shorter than the month before, September 2020.
Of these 2,146 sales, 1,665 were freehold houses, and 481 were condominiums.
The average sales price for a freehold house sold in October 2020, was $603,253 showing an increase of 24.7% over October 2019. While condominium average prices rose 15.5% from last year to $368,936.
2,645 new properties were listed for sale in October 2020 which is a 53.3% increase compared to October 2019, bringing the total number of residential properties for sale to 1,914 a decrease of 34.7% from October of last year.
To read the full report with charts or see the 61-year history of Ottawa real estate visit our website.