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Ottawa Real Estate Update | February 2021 Edition 

 

Last month in January 2021 members of the Ottawa Real Estate Board sold 964 residential properties an increase of 32.4%  compared to 778 in January 2020.

We had 1,171 new properties were listed for sale in January which is an 8.2% increase compared to January 2020, leaving the total number of residential properties for sale tat 954 a decrease of 42.9% from January of last year, the lowest recorded inventory in over 16 years.

We currently have 1 month on inventory on the market and a new listing sales rate of 82.3%, a very strong seller's market in Ottawa.
 
It took an average of 33 days for properties of all types to sell in January which is 17 days shorter than the average in January 2020 and the same as the month before.   
 
Of these 964 sales, 674 were freehold houses, and 290 were condominiums. 
 
The average sales price for a freehold house sold in January 2020, was $677,197 showing an increase of 31.2%*** over January 2020.  While condominium average prices rose 12.8%*** from last year to $380,336.  

***The Ottawa Real Estate Board has cautioned that this is not a very reliable statistics at the current time as 63 over $1M properties sold in January 2021 compared to 16 in January 2020.

 

Last Year: 2020 in Review

During 2020, there were 18,971 sales by the Ottawa Real Estate Board members.
Compared to 17,613 in 2019, 
an increase of 1.9%.

Nearly 60% of 2020's sales occurred from July-December which was a shift in the years seasonal market due to the pandemic, where 40% of Ottawa sales usually occur in the last 2 quarters.


It took an average of 28 days for properties of all types to sell in 2020 which is a decrease of 25% from 2019. 
 
Of these 18,971 sales, 14,455 (+3.0% from '19) were freehold houses, and 4,516 (-1.5% from '19) were condominiums.
 
The average sales price for a freehold house sold in 2020, was $582,267 showing an increase of 19.7% over 2019, while condominium average prices rose 18.8% from last year to $361,337. 
During the month of March 2015, members of the Ottawa Real Estate Board sold 1208 residential properties,  compared to 1189 in March of last year,  an increase of 2% in total number of properties sold. 
 
It took an average of 83 days for a property to sell last month which is 16 days shorter than the average in February and about 10% shorter than last March. 
 
Of these 1208 sales, 980 were freehold houses, and 228 were condominiums. 
 
March's average home price for all properties sold was $361,572, up 0.7% from last year.
The average sales price for a freehold house sold last month, was $387,141, showing no change compared to last year.
Condominium average prices remained unchanged from last year as well at $251,666. 
 
3,388 new properties were listed for sale in March, bringing the total number of properties for sale to 7,763 an increase of 9.4% over this time last year.
 
 

lAST mONTH IN oTTAWA rEAL eSTATE

 
 

OTTAWA HOME SALES & PRICES TreNDS (2018-2021)

 

 
 

Ottawa Home Sales & Prices over the last 10 Years & 62 Year History of the Ottawa Real Estate Board

 
 
Copy: The Tulip Team Real Estate Statistics for Ottawa
Infogram
 

 

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