Last month in March 2021 members of the Ottawa Real Estate Board sold 2,285 residential properties an increase of 50.9% compared to 1,514 in March 2020.
We had 2,798 new properties were listed for sale in March which is a 36.6% increase compared to March 2020, leaving the total number of residential properties for sale at 1,188 a decrease of 39.8% from March of last year.
We currently have 0.5 Month Of Inventory on the market and a new listing sales rate of 81.7%, a very strong seller’s market in Ottawa.
It took an average of 14 days for properties of all types to sell in March which is 9 days shorter than the average in march 2020 and 8 days shorter than February.
Of these 2,285 sales, 1,705 were freehold houses, and 580 were condominiums.
The average sales price for a freehold house sold in February 2020, was $758,802 showing an increase of 35.4% over March 2020. While condominium average prices rose 17.9% from last year to $437,041.
For a more detailed breakdown of the monthly, yearly and 62-year history of Ottawa real estate visit https://www.thetulipteam.com/stats/