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Ottawa's Real Estate Marketplace | June 2020 Edition 

 

Last month, May 2020, amid the lockdown in Ontario, members of the Ottawa Real Estate Board sold 1,345 residential properties,  compared to 2,410 in May 2019, a decrease of 44.2%  in the number of properties sold vs the previous year.

It took an average of 37 days for properties of all types to sell in May 2020 which is the same as the average in May 2019 and 11 days longer than the month before, Apr 2020.  
 
Of these 1,345 sales, 1,066 were freehold houses, and 279 were condominiums.
 
The average sales price for a freehold house sold in May 2020, was $548,140 showing an increase of 11.2% over May 2019.  While condominium average prices rose 15.5% from last year to $343,589. 
 

1,650 new properties were listed for sale in May 2020 which is a 48.8% decrease compared to May 2019, bringing the total number of residential properties for sale to 1,933 a decrease of 50.4% from May of last year.

The two notable stats for Bill Meyer were; while sales were cut in half so too were the number of new properties for sale, maintaining the balance of the market and the stimulating the average price index of the market.

 

Last Year: 2019 in Review

During 2019, there were 18,662 sales by the Ottawa Real Estate Board members.
Compared to 17,467 in 2018 home sales showed 
an increase of 6.6%.


It took an average of 44 days for properties of all types to sell in 2018 which is a decrease of 21.7% from 2018. 
 
Of these 18,622 sales, 14,038 (+4.7%) were freehold houses, and 4,584 (+13.0%) were condominiums.
 
The average sales price for a freehold house sold in 2019, was $486,590 showing an increase of 8.9% over 2018, while condominium average prices rose 9.3% from last year to $304,203. 
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.
 
 

Below are some helpful charts to illustrate
the Real Estate trends in Ottawa

 



Homes & Condos Sold in Ottawa Last Month





Average Price of Homes & Condos Sold in Ottawa Last Month





Inventory of Homes & Condos for Sale in Ottawa





Precentage of Homes & Condos Selling in Ottawa



 

2019 Home Sales & Home Prices in Review


 

Ottawa Home Sales & Prices over the last 10 Years

HOMES PRICE Change IN OTTAWA FOR THE LAST 61 YEARS (1958 - 2019)

HOMES PRICES IN OTTAWA FOR THE LAST 61 YEARS (1958 - 2019)