“December’s resale market performed as it typically does with a marked decrease in sales from November as families turned their attention towards the holiday break. Although slightly above the five-year average, the number of properties exchanging hands was lower than the year before due to the atypical market we experienced in 2020 when peak market activity shifted to later in the year because of the initial spring pandemic lockdown,” states Debra Wright Ottawa Real Estate Board’s 2021 President. “However, while the market normalized in the latter part of the year, looking at the year-end figures, 2021 was still a record-breaking year,” she adds.
The average sale price for a condominium-class property in December was $399,125, an increase of 12% from 2020, and the average sale price for a residential-class property was $709,980, increasing 18% from a year ago.*
OREB Members also assisted clients with renting 4,813 properties since the beginning of the year compared to 3,364 in 2020.
Here’s a breakdown of the average sale prices & year & over-year increases/decreases in Ottawa:
If you’re a potential home buyer or seller, and in a situation where it is essential that you buy or sell a property right now, there are means to do this in a safe and prudent manner. Do not hesitate to contact one of our agents to discuss-plan and protect you through this unique period. We have been working hard to move the majority of our business online so your entire real estate transaction can be completed virtually and safely. Get the scoop of our featured listings here.
Disclaimer: The Board cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.