Members of the Ottawa Real Estate Board sold 1,846 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,285 in May 2021, a decrease of 19 per cent. May’s sales included 1,384 in the residential-property class, down 22 per cent from a year ago, and 462 in the condominium-property category, a decrease of 11 per cent from May 2021. The five-year average for total unit sales in May is 2,031.
The average sale price for a condominium-class property in May was $472,920, an increase of 11 per cent from 2021, while the average sale price for a residential-class property was $802,393, increasing 8 per cent from a year ago. With year-to-date average sale prices at $824,276 for residential and $470,353 for condominiums, these values represent a 12 per cent increase over 2021 for both property classes.*
“Average prices, while still higher than 2021, are showing signs of adjusting to the pace of the market with a month-over-month decrease of 2% in both property classes. In April, we also saw a decline of 1-3%. In contrast, January to March experienced month-to-month increases ranging from 2% to 12%. This may be good news for Buyers, including the fact that the months of inventory have increased to 1.2 for residential and 1 month for condominiums. We are still a far cry away from a balanced market, but it finally seems to be moving in the right direction,” Torontow suggests.
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Properties Sold
Decrease in Homes Sold
Average sale price (residential)
Average sale price (condos)
This 3-bed, 1.5 bath townhome with rare private garage is located in sought after Beacon Hill, only minutes to downtown & minutes from LRT including the future Montreal Rd Stn.
360 Stewart is an architecturally impressive one-of-a-kind home on a quiet dead-end street in Sandy Hill w/ a perfect blend of century charm & modern updates.
A 3+1 bedroom, 2.5 bath detached home on an oversized lot, just a short walk to the future Jeanne D'Arc LRT and Terry Fox Park via walking trails leading to the Ottawa River Pathway and two schools.