Second-best April on record for Ottawa resales

Members of the Ottawa Real Estate Board sold 1,714 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,567 in April 2015, an increase of 9.4 per cent. The five-year average for April sales 1,568.

April’s sales included 264 in the condominium property class, and 1,450 in the residential property class.

In April 3,644 homes were listed, up 13.8 percent since March and down by 2.8 per cent over April 2015.

The average sale price of a residential-class property sold in April in the Ottawa area was $403,603, an increase of 0.2 per cent over April 2015. The average sale price for a condominium-class property was $261,017, a decrease of 1.8 per cent over April 2015.

The average cumulative days on market increased to 87 days. The inventory absorption rate decreased by one month to 5 months. The average sale price to average list price ratio = 97.35%