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.