Members of the Ottawa Real Estate Board sold 1,985 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,691 in June 2015, an increase of 17.4 per cent. The five year average for June sales is 1,717.
Year-to-date units sold for the first half of 2016 are also performing quite well compared to the first half of last year, up 5.4 percent, while year-to-date average sale price remains the same compared to last year.
The average sale price of a residential-class property sold in June in the Ottawa area was $399,382, a decrease of 1.3% over June 2015. The average sale price for a condominium-class property was $264,913, a decrease of 2.4 per cent over June 2015.
The average cumulative days on market for a home to sell increased by 4.1% to 17 days. The inventory absorption rate decreased by two months to 4 months. The sales to inventory ratio increased to 24%. The average sale price to average list price was 97.6%.