Ottawa Real Estate Update | October 2021 Edition
Last month in September 2021 members of the Ottawa Real Estate Board sold 1,607 residential properties a decrease of 30.6%* compared to 2,314 in September 2020.
We had 2,252 new properties listed for sale in August which is a 29.2% decrease compared to September 2020, leaving the total number of residential properties for sale at 2,019 a decrease of 1% from September of last year.
We currently have 1.3 Month Of Inventory on the market and a new listing sales rate of 71.4%, still a strong seller's market in Ottawa.
It took an average of 25 days for properties of all types to sell in September which is 2 days longer than the average in September 2020 and 1 day longer than August 2021.
Of these 1,607 sales, 1,244 were freehold houses, and 363 were condominiums.
The average sales price for a freehold house sold in September 2021, was $702,155 showing an increase of 13.0% over September 2020. While condominium average prices rose 13.8% from last year to $425,362.
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.
Of these 18,971 sales, 14,455 (+3.0% from '19) were freehold houses, and 4,516 (-1.5% from '19) were condominiums.
The average sales price for a freehold house sold in 2020, was $582,267 showing an increase of 19.7% over 2019, while condominium average prices rose 18.8% from last year to $361,337.