Ottawa Real Estate Updates January 2022, things you need to know
Ottawa’s housing market ended 2021 with a slight dip in listings and sales as average home prices remain higher. The average sold price of a home in Ottawa for December 2021 was $615,858, a 16% increase from December 2020. The Ottawa housing market was relatively stable during the last month, with prices rising only by 1.7 percent. However, stricter measures to curb COVID-19 have had little impact on the city’s housing market. As a result, prices have been rising for many years, but the recent real estate boom has left many potential Ottawa home buyers anxious.<p. The main housing statistics for Ottawa, Jan. 5, 2022: The median price of a home in Ottawa now stands at $617,664,a 12.8% increase over December 2020. This includes both condos and residential houses. Search Ottawa homes by clicking this link.
The average price of a house or condo is broken down into its components:
For December, the average price of a freehold Ottawa house was $783 469 up 16.8% This includes single detached homes, townhouses, and semi-detached houses. For December, the average price of a condo in Ottawa was $398.665 an increase of 11.4%. This includes condos in stacked and row-unit styles, as well as apartments.
The comparative number of home sales to last year
Ottawa saw 557 residential properties sell in December 2021. This is 22% less than the previous year. (includes Condos and freehold). 317 sales were freehold, which is down 26.6%. 240 condo sales were down 14.9%. Ottawa Real Estate Board reported that the main Housing Stats for Ottawa, Jan. 05, 2022: The average price for a home in Ottawa is now $617,664, an increase of 12.8% over December 2020. This number includes all residential houses and condos together. Stata curtesy of the Members of the Ottawa Real Estate Board (OREB)
What is the average time it takes to sell a Ottawa home?
Last month, Freehold houses sold in 18 days compared to 19 days last summer. Condominiums take 28 days to sell, versus 24 days last spring. These are Cumulative Days On The Market (more accurate). Inventory Levels: How many homes are currently on the market? At the end of last month, there were 734 Residential Properties for sale. 535 listings were freehold, while 199 were condos.
Is it a Seller’s Market or a Buyer’s Market?
Although we are still in a Sellers Market in Ottawa, it is starting to calm down a bit. It is still a sellers market but it is more balanced than it was a few weeks back. This is an indication that the market is still growing. With the number of homes for sale in Ottawa increasing, the market will continue to grow.
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