Members of the Ottawa Real Estate Board (OREB) sold 855 residential properties in February through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,411 in February 2022, a decrease of 39%. February’s sales included 633 in the freehold-property class, down 42% from a year ago, and 222 in the condominium-property category, a decrease of 31% from February 2022. The five-year average for total unit sales in February is 1,157.
- The average sale price for a freehold-class property in February was $708,968, a decrease of 15% from 2022. However, it marks a 5% increase over January 2023.
- The average sale price for a condominium-class property was $410,927, decreasing 12% from a year ago.
- With year-to-date average sale prices at $695,086 for freeholds and $411,449 for condos, these values represent a 14% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.
*Source: Ottawa Real Estate Board - https://www.oreb.ca/newsroom/resale-market-stabilizes-in-february-with-a-glimmer-of-hope-for-buyers-and-sellers-alike/
Post a comment