Last month in July 2021 members of the Ottawa Real Estate Board sold 1,724 residential properties a decrease of 21%* compared to 2,183 in July 2020.
We had 2,456 new properties listed for sale in July which is a 1.3% decrease compared to July 2020, leaving the total number of residential properties for sale at 2,155 an increase of 20.1% from July of last year.
We currently have 1.2 Month Of Inventory on the market and a new listing sales rate of 70.2%, still a strong seller’s market in Ottawa.
It took an average of 20 days for properties of all types to sell in July which is 9 days shorter than the average in July 2020 and 6 days longer than June 2021.
Of these 1,724 sales, 1,312 were freehold houses, and 412 were condominiums.
The average sales price for a freehold house sold in July 2021, was $685,426 showing an increase of 17.1% over July 2020. While condominium average prices rose 17.2% from last year to $419,545.