Last month the Ottawa Real Estate Board sold 2,333 residential properties an increase of 4.1% over May 2022. 1,459 (+3.8%) were Single Family Homes, 554 (+3.0%) were Townhouses, and 295 (+6.5%) were Apartments.

We had 3,410 new properties listed for sale in May leaving the total number of residential properties for sale at 3,555 an increase of 39.2% from the end of May 2022.  We currently have 1.5 Months of Inventory on the market.

The Median days for properties of all types to sell in May was 14, an increase of 6 days compared to May 2022, and 2 days shorter than the previous month April 2023.

The average sales price for a Single Family Home was $716,663 down 5.3% from May 2022 while Townhouses sold for an average of $549,583 (-6.2%) and Apartments sold for an average of $435,742 (-6.3%).

The MLS® Home Price Index for all residential properties in Ottawa for May 2023 was $645,400, +1.9% from April 2023, +5.6% vs February 2023, and -9.0% from May 2022

***How the Ottawa Real Estate Board produces its monthly activities reports has been fundamentally changed to bring it in-line with the Canadian Real Estate Association's HPI Index.  As such we now show statistics for Single Family Homes, Town-Homes, and Apartment style dwellings without breaking them apart into freehold or condo ownership.

Last month in April 2023 members of the Ottawa Real Estate Board sold 1,488 residential properties a decrease of 20.7% compared to the height of the market in April 2022.

We had 2,144 new properties listed for sale in April leaving the total number of residential properties for sale at 2,760 an increase of 61.7% from the end of April 2022.

We currently have 1.9 Month Of Inventory on the market and a new listing sales rate of 69.4%. These indicate a slide back into sellers market condition in Ottawa.

It took an average of 42 days for properties of all types to sell in April, which is 30 days longer than April 2022 and 10 days fewer than March 2023.

Of these 1,488 sales, 1,156 were freehold houses (-17.9%), and 332 were condominiums (-29.1%).

The average sales price for a freehold house sold in April 2023, was $747,123 showing a decrease of 9.7% from April 2022. While condominium average prices showed a decrease of 8.1% from last year to $435,875.

Since December 2022 we've seen an increase of the average price of all properties sold in a month grow by 13.9% to $677,678.

Last month in February 2023 members of the Ottawa Real Estate Board sold 855 residential properties a decrease of 39.4% compared to the height of the market in February 2022.

We had 1,366 new properties listed for sale in December leaving the total number of residential properties for sale at 2,343 an increase of 233.4% from the end of February 2021.

We currently have 2.7 Months Of Inventory on the market and a new listing sales rate of 62.6%. These indicate a slide back into sellers market condition in Ottawa.

It took an average of 62 days for properties of all types to sell in February, which is 43 days longer than February 2021 and 7 days fewer than January 2023.

Of these 855 sales, 633 were freehold houses (-41.8%), and 222 were condominiums (-31.3%).

The average sales price for a freehold house sold in February 2022, was $708,968 showing a decrease of 15.2% from February 2022. While condominium average prices showed a decrease of 12% from last year to $410,927.

Last month in January 2023 members of the Ottawa Real Estate Board sold 606 residential properties a decrease of 35% compared to January 2022 (close to the peak of the market).  

We had 1,324 new properties listed for sale in January leaving the total number of residential properties for sale at 2,318 an increase of 181% from the end of January 2022.

We currently have 3.8 Month Of Inventory on the market and a new listing sales rate of 45.8%.  A balanced market in Ottawa.

It took an average of 69 days for properties of all types to sell in January, which is 39 days longer than January 2022 and 10 days longer than December 2022.

Of these 606 sales, 460 were freehold houses (-30.1%), and 146 were condominiums (-46.9%). 

The average sales price for a freehold house sold in January 2023, was $676,272 showing a decrease of 12.1% over January 2022.  While condominium average prices dropped 8% from last year to $412,244.