Last month in January 2022 members of the Ottawa Real Estate Board sold 936 residential properties a decrease of 2.8% compared to January 2021.
We had 1,143 new properties listed for sale in January which is a 2.4% decrease compared to January 2021, leaving the total number of residential properties for sale at 827 a decrease of 13% from the end of January 2021.
We currently have 0.9 Month Of Inventory on the market and a new listing sales rate of 82%, a strong seller’s market in Ottawa.
It took an average of 30 days for properties of all types to sell in January which is 3 days shorter than the average in January 2021 and 2 days shorter than the previous month December 2021.
Of these 936 sales, 661were freehold houses, and 275 were condominiums.
The average sales price for a freehold house sold in January 2022, was $771,739 showing an increase of 14% over January 2021. While condominium average prices rose 17.8% from last year to $447,943.
See our 4, 10 and 63 comparison charts for the Ottawa Real Estate Market at https://www.thetulipteam.com/stats/