Ottawa Real Estate Update | May 2021 Edition
We had 3,200 new properties listed for sale in April which is a 266% increase compared to April 2020*, leaving the total number of residential properties for sale at 1,586 a decrease of 17.4% from April of last year but an increase of 400 properties for sale compared to last month.
We currently have 0.6 Month Of Inventory on the market and a new listing sales rate of 75.1%, a very strong seller's market in Ottawa.
*April 2020 marked the first full month of lockdown of the pandemic.
When compared to the 5 year average of April sales (1830) this year represents about a 31% increase in home sales.
The new 5 year average of new listings is 3,200 which is on par with what we saw in April 2021.
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.