Last month in February 2021 members of the Ottawa Real Estate Board sold 1,390 residential properties an increase of 22.6% compared to 1,134 in February 2020.
We had 1,576 new properties were listed for sale in February which is an 7.1% increase compared to February 2020, leaving the total number of residential properties for sale tat 984 a decrease of 45.6% from February of last year.
We currently have 0.7 Month Of 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 22 days for properties of all types to sell in February which is 15 days shorter than the average in February 2020 and 11 days shorter than January.
Of these 1,309 sales, 1,028 were freehold houses, and 362 were condominiums.
The average sales price for a freehold house sold in February 2020, was $717,914 showing an increase of 27.2% over February 2020. While condominium average prices rose 16.6% from last year to $407,671.
To read the full report with charts or see the 62-year history of Ottawa real estate visit our website.