During the month of August 2016, members of the Ottawa Real Estate Board sold 1,484 residential properties, compared to 1,276 in August of last year, an surge of 16.3% in properties sold.
Year to date the Ottawa real estate market has shown a 6.5% increase over the same time period compared to 2015. Prices have remained stable showing a 0.6% increase for residential housing and 0.4% increase in condo prices.
It took an average of 95 days for a property to sell last month which is 11 days longer than the average in July and 6 days longer than in August 2015.
Of these 1,484 sales, 1,189 were freehold houses, and 295 were condominiums.
The average sales price for a freehold house sold last month, was $389,786 showing an increase of 2.5% over last year. While condominium average prices increase 11.1% from last year to $272,166.
2,343 new properties were listed for sale in August, bringing the total number of properties for sale to 7,397 a decrease of 16% from this time last year.
See all the Ottawa real estate activity broken down by category on our statistics page.