The March 2016 Ottawa real estate statistics decreased by 2.8 percent from March 2015, with a total of 1,166 residential properties sold. Of those 1,166 sales, 945 of them were residential, and 221 of them were condominiums.
According to the president of the Ottawa Real Estate Board (OREB) Shane Silva, "Properties are starting to sell faster, indicating that we are heading into our busy spring market".
The sale price of residential homes has increased from last March by 2 percent, with an average of $394,951 in March 2016. Condominium prices also saw an increase by 2.4 percent from last March, with an average of $258,714 in March 2016.