Ottawa Real Estate Update | June 2021 Edition
We had 3,113 new properties listed for sale in May which is a 88.6% increase compared to May 2020*, leaving the total number of residential properties for sale at 1,867 a decrease of 3.4% from May of last year but an increase of 300 properties for sale compared to last month.
We currently have 0.8 Month Of Inventory on the market and a new listing sales rate of 73.8%, a very strong seller's market in Ottawa.
*In May 2020 sales & homes lister were 50% lower than standard due to the 1st lockdown.
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.