Last month in January 2021 members of the Ottawa Real Estate Board sold 964 residential properties an increase of 32.4% compared to 778 in January 2020.
We had 1,171 new properties were listed for sale in January which is an 8.2% increase compared to January 2020, leaving the total number of residential properties for sale tat 954 a decrease of 42.9% from January of last year, the lowest recorded inventory in over 16 years.
We currently have 1 month on inventory on the market and a new listing sales rate of 82.3%, a very strong seller’s market in Ottawa.
It took an average of 33 days for properties of all types to sell in January which is 17 days shorter than the average in January 2020 and the same as the month before.
Of these 964 sales, 674 were freehold houses, and 290 were condominiums.
The average sales price for a freehold house sold in January 2020, was $677,197 showing an increase of 31.2%*** over January 2020. While condominium average prices rose 12.8%*** from last year to $380,336.
***The Ottawa Real Estate Board has cautioned that this is not a very reliable statistics at the current time as 63 over $1M properties sold in January 2021 compared to 16 in January 2020.
To read the full report with charts or see the 61-year history of Ottawa real estate visit our website.