➡️ The Ottawa Real Estate Board reported 1,080 sales of residential properties in September through the MLS system, compared with 1,601 in September 2021, a decrease of 33 percent.
➡️ The average sale price for a residential-class property was $706,658, increasing 0.5 percent from 2021.
➡️ The average sale price for a condominium-class property in August was $4450,987, an increase of 6 percent from 2021.
➡️ September’s new listings (2,371) were 5% higher than 2021 (2,252) and 13% higher than August 2022 (2,091).
“Prices are stabilizing with slight month-to-month movement, whereas, year over year we are seeing the slow and steady increases that the Ottawa resale market is known for. As every neighbourhood is different, Buyers will want to consult a local REALTOR® who can tap into proprietary data on price trends and expert insights to help them navigate market shifts,” Torontow advises.
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