Members of the Ottawa Real Estate Board sold 987 residential properties in October through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,670 in October 2021, a decrease of 41%. October’s sales included 758 in the residential-property class, down 40% from a year ago, and 229 in the condominium-property category, a decrease of 44% from October 2021. The five-year average for total unit sales in October is 1,554.
- The average sale price for a condominium-class property in October was $445,691, an increase of 9% from 2021.
- The average sale price for a residential-class property was $677,873, decreasing 5% from a year ago.
- With year-to-date average sale prices at $780,390 for residential units and $456,470 for condominiums, these values represent an 8% increase over 2021 for residential-class properties and a 9% increase for condominium-class properties.
REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 5,186 properties compared to 4,012 last year at this time.
*Source: Ottawa Real Estate Board - https://www.oreb.ca/newsroom/resale-markets-adjustment-and-correction-continues/
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