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 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.