Courtesy of Lynda Campbell

April Residential Resales in a Flux

AVERAGE SALE PRICES

$473,702 condo UP 11% year-to-year

$829,318 residential UP 12% year-to-year

1,419 PROPERTY SALES

470 PROPERTY SALES

Ottawa, May 4, 2022 – Members of the Ottawa Real Estate Board sold 1,889 residential properties in April through the Board’s Multiple Listing Service® System, compared with 2,394 in April 2021, a decrease of 21 percent. April’s sales included 1,419 in the residential-property class, down 23 percent from a year ago, and 470 in the condominium-property category, a decrease of 13 percent from April 2021. The five year average for total unit sales in April is 1,849.

“The fact remains that it is still a Seller’s market with supply under one month. Bidding wars and multiple offers persist in some pockets, prices continue to rise, albeit more moderately, and the market remains relatively strong,” states Ottawa Real Estate Board’s President Penny Torontow. Statistics reflect market activity in April 2022 | Source: OREB ® Ottawa Real Estate Board | Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

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