These key real estate statistics show the prices of real property remain strong and healthy in Ottawa.
Although June 2021 saw an increase over June 2020, there was a small decline (7.75%) in the total number of sales compared with May 2021.
Average sale prices for both freehold and condo properties also decreased slightly against May 2021’s year-to-date average sale prices of $736,241 for freehold and $420,074 for condo properties. Is this a sign the real estate boom is over and prices are falling? I don’t think so. Historically, Ottawa’s market is a steady one. We need a few more months of data, but I believe real property sales are simply returning to a more moderate pace.