***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
Last month the Ottawa Real Estate Board sold 1,515 residential properties an increase of 5.4% over August 2022. 955 (+5.9%) were Single Family Homes, 363 (+4.9%) were Townhouses, and 186 (+8.1%) were Apartments.
We had 2,710 new properties listed for sale in August leaving the total number of residential properties for sale at 4,105 an increase of 10.3% from the end of August 2022. We currently have 2.7 Months of Inventory on the market.
The Median days for properties of all types to sell in August was 20, the same as August 2022.
The average sales price for a Single Family Home was $659,989 up 0.9% from August 2022 while Townhouses sold for an average of $531,030 (-0.7%) and Apartments sold for an average of $420,728 (+ 1.6%).
The MLS® Home Price Index for all residential properties in Ottawa for June 2023 was $596,656, up 0.6% from August 2022.
In Q1 & Q2 of 2023, there were 9,310 sales recorded by the Ottawa Real Estate Board, a decrease of 19.3% in the
number of homes & condos sold vs the first half of 2022
The median days for all properties to sell was 17 an increase of 7 days from Q1 & Q2 of 2022.
Of these 9,310 sales, 5,667 (-19.0%) were Single Family Homes, 2,352 (-18.6%) were Townhouses, and 1,181(-21.8%) were Apartments.
The average sales price for a Single Family Home was $701,639 down 8.8% while Townhouses sold for an average of $543,049 (-11.0%) and Apartments sold for an average of $427,037 (-4.8%).
So far in 2023 we've had 14,884 properties listed for sale, a decline of 14.3% from 2022. With an average of 3,242 homes for sale per month, we sit at the end of June 2023 at 2.1 months of inventory, 1 month higher than June 2022.