Ottawa Real Estate Update | August 2022 Edition 

Last month in July 2022 members of the Ottawa Real Estate Board sold 1,110 residential properties a decrease of 35.4% compared to July 2021.  Year to date 10,690 homes & condos have sold, 18.7% less than the Jan-Jul of 2021

We had 2,338 new properties listed for sale in July leaving the total number of residential properties for sale at 3,126 an increase of 44.9% from the end of July 2021.

We currently have 2.8 Month Of Inventory on the market and a new listing sales rate of 47.5%.  A strong move back to a balance real estate market in Ottawa.

It took an average of 26 days for properties of all types to sell in July, which is 6 days longer than July 2021 and last month. Of these 1,5110 sales 840 were freehold houses, and 270 were condominiums. The average sales price for a freehold house sold in 

July  2022, was $716,354 showing an increase of 4.5% over July 2021.  While condominium average prices rose 1.4% from last year to $425,694.  

Pop over to our website 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.

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