Summer Ends, Active Real Estate Market Continues…

Members of the Ottawa Real Estate Board sold 1,586 residential properties in August through the Board’s Multiple Listing Service System, compared with 1,535 in August 2017, an increase of 3.3 percent. The five-year average for August sales in 1,417. August’s sales included 1,188 in the residential property class, relatively unchanged from a year ago, and 398 in the condominium property class, an increase of 10.9 percent from August 2017.

The average sale price of a residential-class property sold in August in the Ottawa area was $433,684, an increase of 3.1 percent over August 2017. The average sale price for a condominium-class property was $276,720, an increase of 2.2 percent from August 2017.