Last month in August 2021 members of the Ottawa Real Estate Board sold 1,572 residential properties a decrease of 21.6%* compared to 2,006 in August 2020.
We had 2,037 new properties listed for sale in August which is a 18.7% decrease compared to August 2020, leaving the total number of residential properties for sale at 2,010 an increase of 5.6% from August of last year.
We currently have 1.3 Month Of Inventory on the market and a new listing sales rate of 77.2%, still a strong seller’s market in Ottawa.
It took an average of 24 days for properties of all types to sell in August which is 1 day longer than the average in August 2020 and 4 days longer than June 2021.
Of these 1,572 sales, 1,175 were freehold houses, and 397 were condominiums.
The average sales price for a freehold house sold in August 2021, was $674,449 showing an increase of 13.7% over August 2020. While condominium average prices rose 5.9% from last year to $407,148.