Ottawa’s Real Estate Marketplace ~ August 2017 Edition

During the month of July 2017, members of the Ottawa Real Estate Board sold 1,530 residential properties, compared to 1,490 in 2016, an increase of 2.7% of properties sold vs the previous year.

It took an average of 68 days for properties of all types to sell in July 2017 which is 16 days faster than the average in July 2016 and 1 longer than the month before, June 2017.

Of these 1,530 sales, 1,198 were freehold houses, and 332 were condominiums.

The average sales price for a freehold house sold in June 2017, was $420,335 showing an increase of 5.3% over July 2016. While condominium average prices rose 2.8% from last year to $267,641.

2,278 new properties were listed for sale in July, bringing the total number of properties for sale to 5,993 a decrease of 24.1% from July of last year.

See the breakdown by property type, sales, prices, inventory and market balance at HomeTeamOttawa.com

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