Last month members of the Ottawa Real Estate Board sold 721 residential properties a decrease of 1.6% homes over
November 2022. 385 (- 2.5%) were Single Family Homes, 222 (- 0.9%) were Townhouses, and 114 (+ 6.5%) were
We had 1,428 new properties listed for sale in November leaving the total number of residential properties for sale at 2,743 an increase of 15.8% from the end of November 2022. We currently have 3.8 Months of Inventory on the market.
The Median days for properties of all types to sell in November was 26, 4 days longer than in November 2022.
The average sales price for a Single Family Home was $745,730 up 0.1% from November 2022 while Townhouses sold for an average of $524,972 (- 0.6%) and Apartments sold for an average of $444,100 (+ 0.9%).
The MLS® Home Price Index Benchmark Price for all residential properties in Ottawa for November 2023 was $628,900, up 1.4% from November 2022 and down 1.5% from last month, October 2023. ***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.
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.