During the month of January 2018, members of the Ottawa Real Estate Board sold 712 residential properties, compared to 664 in Jan 2017, an increase of 7.2% of properties sold vs the previous year.
Of these 712 sales, 539 were freehold houses, and 173 were condominiums.
The average sales price for a freehold house sold in January 2018, was $427,487 showing an increase of 8.8% over Jan 2017. While condominium average prices dropped 8.6% from last year to $263,744. (Which is not surprising as there was a spike in high end condo sales in Jan 2017.)
1,400 new properties were listed for sale in January 2018, bringing the total number of properties for sale to 3,734 a decrease of 22.8% from Jan of last year. This is the lowest January inventory we have seen in the Ottawa resale real estate market since 2008.