Ottawa Real Estate Update | February 2023 Edition
January 2023 in Review
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.
2022 in Review
In 2022, there were 15,288 sales by the Ottawa Real Estate Board members. Compared to 20,289 in 2021, there was a decrease of 24.6% in the number of homes & condos sold.