Last month in September 2022 members of the Ottawa Real Estate Board sold 1,080 residential properties a decrease of 32.5% compared to September 2021. Year to date 12,882 homes & condos have sold, 21% less than the Jan-Sept of 2021.
We had 2,371 new properties listed for sale in September leaving the total number of residential properties for sale at 3,254 an increase of 60.7% from the end of September 2021.
We currently have 3.0 Month Of Inventory on the market and a new listing sales rate of 45.6%. Showing a switch into a balance real estate market in Ottawa.
It took an average of 41 days for properties of all types to sell in September, which is 16 days longer than September 2021 and 5 days longer than last month.
Of these 1,080 sales, 816 were freehold houses, and 264 were condominiums.
The average sales price for a freehold house sold in September 2022, was $706,658 showing an increase of 0.5% over September 2021. While condominium average prices rose 6.0% from last year to $450,987.
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.