About Ottawa Real Estate

May Property Statistics

Residential Resale Market: A Tale of Two May Lockdowns
June 3, 2021

Members of the Ottawa Real Estate Board sold 2,296 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,342 in May 2020, an increase of 71 per cent. May’s sales included 1,779 in the residential-property class, up 67 per cent from a year ago, and 517 in the condominium-property category, an increase of 85 per cent from May 2020. The five-year average for total unit sales in May is 2,123.

May’s average sale price for a condominium-class property was $424,843, an increase of 24 per cent from last year, while the average sale price for a residential-class property was $741,206, an increase of 35 per cent from a year ago. With year-to-date average sale prices at $736,241 for residential and $420,074 for condominiums, these values represent a 35 per cent and 21 percent increase over 2020, respectively.*

“As we come out of this lockdown, we will closely monitor other market factors including the effects of the increased stress test measures combined with the average five-year fixed mortgage rates climbing back over two per cent since the beginning of 2021, and whether pent-up supply will decrease our supply shortage and eventually bring Ottawa’s real estate market to a more balanced state,” Wright concludes.

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2,296

Properties Sold

71%

Increase in Homes Sold

$741,206

Average sale price (residential)

$424,843

Average sale price (condos)

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Craig Dow turned that scary first time home buying process into a streamlined process. Always prompt with a great attention to detail. Good at asking the right questions to help you understand how you really feel. Patient and willing to work with you until the right property comes along. Quickly learns what you tend to like and dislike based off of your (sometimes non-verbal) reactions to previous showings. Works well under strict timelines and takes a lot of the stress out of the situation as he is prepared for seemingly anything and everything that could come up.

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Craig helped me purchase my very first condo back in 2012. He was very patient, helpful and knowledgeable as he answered any and all questions and concerns that I had. He is very prompt, thorough and diligent in everything he does. He also provided me with many options for potential homes that he thought would suit my needs, which is why I didn't hesitate to ask him to be my realtor again when I moved last year. I have thoroughly enjoyed the smoothness and easiness both times that he has helped me and would highly recommend him to anyone looking for a similar experience!

Heidi Wong

Craig has gone above and beyond my expectations. From the very first conversation, Craig was intuitive, caring, and patient. He was honest and upfront about everything. Anything he didn't know/wasn't aware of, he was willing to admit, find out and got back to me very promptly. I couldn't have asked for a better Realtor and very grateful for everything Craig has done for me.

Tim and Liz

We were looking for a rural home and had Craig drive us around the Ottawa Valley for a few months, usually taking up all hours of the evening. He was incredibly patient, kind and honest when it was needed. Our time with Craig was enjoyable, and when it came time to get down to business he was incredibly professional, answered all questions we had (we had a lot as first time home buyers). Because of Craig's advice, we were able to land our first dream home. I truly believe that if we didn't listen to Craig we may not be in the house we are in now. I will thank him forever for that. Thank you for being assertive and knowledgeable. I would absolutely recommend Craig to anyone purchasing a home.