Ottawa's real estate market remained hot in September, with 2,329 properties sold
A real estate sold sign hangs in front of a west-end Toronto property Friday, Nov. 4, 2016. THE CANADIAN PRESS/Graeme Roy
OTTAWA -- Ottawa's real estate market continued to sizzle as the temperatures cooled off in September.
The Ottawa Real Estate Board reports 2,329 residential properties were sold in Ottawa last month, compared with 1,547 in September 2019.
The average sale price for a residential home in September was $622,557, a 28 per cent increase from a year ago. The averge sale price for a condo was $373,565 last month.
According to the Ottawa Real Estate Board, the average prices hit an all-time high in September.
"The sheer volume of transactions in September, compared to a year ago, confirms the Ottawa resale market is continuing on its upward trajectory," said Deb Burgoyne, Ottawa Real Estate Board President.
"The resale market in 2020, especially since the outset of the pandemic, has certainly not followed the usual spring and fall cycles we typically experience. This year has had its own distinct ebb and flow, and whether this momentum in our market will continue is difficult to predict."
The Ottawa Real Estate Board reports 2,165 new residential properties and 744 condominiums entered the market in September.
"The continued increase in new listings and demand remaining strong allows us to be cautiously optimistic," said Burgoyne.