Members of the Ottawa Real Estate Board sold 1,508 residential properties last month, a drop of nearly 30 per cent from June 2021.
Ottawa Real Estate Board
The average residential-class property changed hands for about $802,000 last month, the city's real estate board said, up eight per cent from a year earlier but down more than $25,000 from April.
A total of 1,889 residential properties changed hands in April, the Ottawa Real Estate Board says, a 21 per cent decline from a year earlier and just above the five-year average of 1,849.
Firm is now predicting the aggregate price of a home in Ottawa will jump 13 per cent in the fourth quarter of 2022 compared with a year earlier, up from its earlier forecast of nine per cent.
Residential-class properties changed hands for an average of $853,615 in March, up 13 per cent from the same month in 2021, real estate board says, even as sales fell compared with a year earlier.
Prices in Ottawa's housing market continued to climb throughout 2021, resulting in sharp year-over-year cost comparison.
Ottawa Real Estate Board president Penny Torontow said “unrelenting high demand” for housing is driving up prices despite the bump in supply.
Developers launched 640 new builds last month, agency says, down three per cent from the 661 starts recorded in January 2021.
Detached home sales topping the million-dollar mark accounted for 14 per cent of local transactions in January – up substantially from 2020, when they made up just three per cent of all deals.
Members of the Ottawa Real Estate Board sold 862 residential properties in December, compared with 997 in December 2020, a decrease of 14 per cent.