Last Month in Review
Last month in March 2022 members of the Ottawa Real Estate Board sold 2,011 residential properties a decrease of 11.6% compared to March 2021.
We had 2,632 new properties listed for sale in March which is a decrease of 5.9% compared to March 2021, leaving the total number of residential properties for sale at 1,246 an increase of 4.4% from the end of March 2021.
We currently have 0.6 Month Of Inventory on the market and a new listing sales rate of 76.4%, a strong seller’s market in Ottawa.
It took an average of 14 days for properties of all types to sell in March, which is the same as March 2021 and 5 days shorter than February 2022.
Of these 2,011 sales, 1493were freehold houses, and 518 were condominiums. The average sales price for a freehold house sold in
March 2022, was $853,615 showing an increase of 12.5% over March 2021. While condominium average prices rose 9.6% from last year to $479,405.
Pop over to our website https://www.thetulipteam.com/stats/ to stay up to date on the Ottawa real estate market and see the 10 & 63 year history of house prices, condo prices, home & condo sales, and inventory of homes for sale in Ottawa.