The May 2016 Ottawa real estate statistics decreased by 4.4 percent from May 2015, with a total of 1,921 residential properties sold. Of those 1,921 sales, 1,614 of them were residential, and 307 of them were condominiums.
According to the president of the Ottawa Real Estate Board (OREB) Shane Silva, "With the number of sales since the beginning of the year on a steady incline, coupled with increased inventory, Ottawa is riding a strong and steady spring market”.
The sale price of residential homes has increased from last May by 0.6 percent, with an average of $406,063 in May 2016. Condominium prices have also seen an increase of 1.5 percent from last May, with an average of $264,801 in May 2016.