November 2022 in Review
Last month in November 2022 members of the Ottawa Real Estate Board sold 846 residential properties a decrease of 41.9% compared to November 2021. Year to date 14,690 homes & condos have sold, 24.4% less than the Jan-Nov of 2021
We had 1,598 new properties listed for sale in November leaving the total number of residential properties for sale at 2,933 an increase of 118.9% from the end of November 2021.
We currently have 3.5 Month Of Inventory on the market and a new listing sales rate of 52.9%. These indicate a balanced market condition in Ottawa.
It took an average of 49 days for properties of all types to sell in November, which is 22 days longer than November 2021 and 6 days longer than last month.Of these 846 sales, 658 were freehold houses, and 188 were condominiums. The average sales price for a freehold house sold in
November 2022, was $680,031 showing a decrease of 5.2% over November 2021. While condominium average prices dropped 3.8% from last year to $415,533.