Ottawa Real Estate Update | November 2021 Edition

Last month in October 2021 members of the Ottawa Real Estate Board sold 1,677 residential properties a decrease of 21.3%* compared to 2,132 in October 2020.

We had 1,960 new properties listed for sale in October which is a 25.9% decrease compared to October 2020, leaving the total number of residential properties for sale at 1,776 a decrease of 7.6% from October of last year.

We currently have 1.1 Month Of Inventory on the market and a new listing sales rate of 85.6%, still a strong seller’s market in Ottawa. 

It took an average of 26 days for properties of all types to sell in October which is 7 days longer than the average in October 2020 and 1 day longer than September 2021.    

Of these 1,677 sales, 1,263 were freehold houses, and 414 were condominiums.  

The average sales price for a freehold house sold in October 2021, was $716,378 showing an increase of 18.9% over October 2020.  While condominium average prices rose 9.6% from last year to $404,760.  

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