The January 2016 Ottawa real estate statistics decreased 4 percent from January 2015, with a total of 601 residential properties sold. The colder weather has slowed the market slightly. Of those 601 sales, 472 of them were residential, which was a 7.8 percent decrease from the previous year. Moreover, 129 of them were condominium sales which are up 13.2 percent over last January.
According to the president of the Ottawa Real Estate Board (OREB) Shane Silva, the "we are seeing a drop in the number of residential and condo properties listed this January over the year before. However, the number of properties listed almost doubled the amount listed in December - a normal occurrence at the beginning of the year as people begin to plan for the year ahead".
The sale price of residential homes has increased from last January by 4.6 percent, with an average of $386,839 in January 2016. Condominium prices have not had the same increase, but have instead declined slightly by 1.3 percent over January 2015.