Members of the Ottawa Real Estate Board sold 1,607 residential properties in September through the Board’s Multiple Listing Service® System, compared with 2,314 in September 2020, a decrease of 31%.
“As per usual, the resale market in the early part of the month moved slowly due to the Labour Day holiday weekend and parents settling their children back into their school routines. Activity began to accelerate towards the end of the month, which is behaviour typical of the market in September,” states Ottawa Real Estate Board President Debra Wright.
September’s average sale price for a condominium-class property was $425,362, an increase of 14% from last year, while the average sale price for a residential-class property was $702,155, an increase of 13% from a year ago. With year-to-date average sale prices at $720,492 for residential and $421,062 for condominiums, these values represent a 25% and 17% increase over 2020, respectively.*
OREB Members also assisted clients with renting 3,598 properties since the beginning of the year compared to 2,536 at this time last year.
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.