Last month in April 2021 members of the Ottawa Real Estate Board sold 2,402 residential properties an increase of 163.7% compared to 911 in April 2020.*
We had 3,200 new properties listed for sale in April which is a 266% increase compared to April 2020*, leaving the total number of residential properties for sale at 1,586 a decrease of 17.4% from April of last year but an increase of 400 properties for sale compared to last month.
We currently have 0.6 Month Of Inventory on the market and a new listing sales rate of 75.1%, a very strong seller’s market in Ottawa. It took an average of 11 days for properties of all types to sell in April which is 15 days shorter than the average in April 2020 and 3 days shorter than March.
Of these 2,402 sales, 1,859 were freehold houses, and 543 were condominiums.
The average sales price for a freehold house sold in April 2021, was $743,204 showing an increase of 42.3% over April 2020. While condominium average prices rose 30.3% from last year to $427,145.
*April 2020 marked the first full month of lockdown of the pandemic.
When compared to the 5 year average of April sales (1830) this year represents about a 31% increase in home sales.
The new 5 year average of new listings is 3,200 which is on par with what we saw in April 2021.
See the full history of the Ottawa real estate market at https://www.thetulipteam.com/stats/