Members of the Ottawa Real Estate Board sold 1,080 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,601 in September 2021, a decrease of 33%. September’s sales included 816 in the residential-property class, down 34% from a year ago, and 264 in the condominium-property category, a decrease of 27% from September 2021. The five-year average for total unit sales in September is 1,586.
- The average sale price for a condominium-class property in September was $450,987, an increase of 6% from 2021.
- The average sale price for a residential-class property was $706,658, increasing 0.5% from a year ago.
- With year-to-date average sale prices at $788,535 for residential and $457,189 for condominiums, these values represent a 9% increase over 2021 for both property classes.
REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 4,678 properties compared to 3,598 last year at this time.
*Source: Ottawa Real Estate Board - https://www.oreb.ca/newsroom/resale-market-continues-to-slow-as-buyers-remain-watchful/
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