Last month in June 2022 members of the Ottawa Real Estate Board sold 1,508 residential properties a decrease of 28.9% compared to June 2021. Year to date 9,589 homes & condos have sold, 16.1% less than the first six months of 2021
We had 3,213new properties listed for sale in June leaving the total number of residential properties for sale at 2,796 an increase of 31.8% from the end of June 2021.
We currently have 1.9 Month Of Inventory on the market and a new listing sales rate of 46.9%. We are seeing the normalization of the real estate market in Ottawa returning to pre-pandemic inventory and sales while prices are fluctuating by neighbourhood.
It took an average of 20 days for properties of all types to sell in June, which is 6 days longer than June 2021 and last month.
Of these 1,508 sales, 1,3138 were freehold houses, and 370 were condominiums.
The average sales price for a freehold house sold in June 2022, was $772,861 showing an increase of 6.4% over June 2021. While condominium average prices rose 0.8% from last year to $438,977.
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.