Ottawa Real Estate Update | November 2022 Edition 

Last Month in Review

Last month in October 2022 members of the Ottawa Real Estate Board sold 987 residential properties a decrease of 40.9% compared to October 2021.  Year to date 13,857 homes & condos have sold, 22.9% less than the Jan-Oct of 2021

We had 2,047 new properties listed for sale in October leaving the total number of residential properties for sale at 3,219 an increase of 80.9% from the end of October 2021.

We currently have 3.3 Month Of Inventory on the market and a new listing sales rate of 48.2%.  This is a balanced market condition.

It took an average of 43 days for properties of all types to sell in October, which is 17 days longer than October 2021 and 2 days longer than last month.

Of these 987 sales, 758 were freehold houses, and 229 were condominiums. 

The average sales price for a freehold house sold in October 2022, was $677,873 showing a decrease of 5.4% over October 2021.  While condominium average prices rose 9.3% from last year to $445,691.  

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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