Ottawa Real Estate Update | February 2021 Edition
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.
***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.