Last month in November 2021 members of the Ottawa Real Estate Board sold 1,459 residential properties a decrease of 9.1%* compared to 1,605 in November 2020.
*As 2020 was a pandemic year and saw a majority of sales move towards the latter half of the year this is not a good direct comparison. November 2021 showed a 14% increase over November 2019 and an 8% increase over the 5-year average of home sales in November.
We had 1,430 new properties listed for sale in November which is a 19.5% decrease compared to November 2020, leaving the total number of residential properties for sale at 1,336 a decrease of 13.0% from November of last year.
We currently have 0.9 Month Of Inventory on the market and a new listing sales rate of 102%, still a strong seller’s market in Ottawa.
It took an average of 27 days for properties of all types to sell in October which is 2 days longer than the average in November 2020 and 1 day longer than October 2021.
Of these 1,459 sales, 1,086 were freehold houses, and 373 were condominiums.
The average sales price for a freehold house sold in November 2021, was $716,992 showing an increase of 18.9% over November 2020. While condominium average prices rose 19.4% from last year to $432,099.