Ottawa Monthly Market Spotlight - October 2024In October 2024, the Ottawa Real Estate Board’s MLS® System reported 1,179 home sales, showing a solid uptick from the 1,047 transactions
Ottawa Market Spotlight - March 2022
Dated: April 8 2022
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Welcome to the Ottawa Market Spotlight where we keep you updated on the real estate market it Ottawa. This month we are taking a closer look at March in numbers!
Let's start off by looking at the volume of sales last month. In the month of March a total of 2,011 homes were recorded sold on the MLS®. This is a -11.6% decrease compared to March 2021. Of the total homes sold last month, 1,493 were freehold and 326 were condominium. It is to no surpise as we are currently experiencing a severe seller's market due to lack of inventory.
The average price sold is still on the rise March at a record of $853,615 for freehold homes and $479,405 for condominiums. That is a 12.5% increase for freeholds sold year over year and condominiums also increased at 9.6% during the same period.
The average day it took to sell on the market was 14 days and we as of April 1st 2022, we had a total of 0.6 months of inventory.
The Ottawa Real Estate Market is still experiencing a very strong seller's market and the time to sell is highly favourable. As for the buyers, it is an excellant opportunity if you are able to secure a property as the value of homes continue to drive upwards. It can be frustrating considering the high competition however with the right proffessionals by your side, navigating this market becomes a cool breeze and very rewarding.
If you are currently on the market to buy a home for the first time, upgrade from your current home, downsize or even looking for an investment property; Now may be a great time for you and we're more than happy to help!
Have questions or would like to get started now? Click here
Marwan Khalil
With a rich background in Ottawa spanning over 20 years, my passion for real estate has flourished within the vibrant tapestry of the city's diverse communities and industries. This extensive period o....
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