Year-over-year home sales in Ottawa up 6 per cent in May
CTV
The Ottawa Real Estate Board says home sales were up six per cent in May 2023 compared to a year prior, marking the first year-over-year unit sales volume increase since early last year.
The Ottawa Real Estate Board says home sales were up six per cent in May 2023 compared to a year prior, marking the first year-over-year unit sales volume increase since early last year.
New data released by OREB shows that members sold 1,939 residential properties last month, compared to 1,830 in May 2022.
"Typically the highest-selling month, May’s transactions did not disappoint," said OREB president Ken Dekker in a news release. "This month we saw the first year-over-year unit sales volume increase since February 2022."
There were 2,822 new listings in May, down nine per cent compared to May 2022 but up 32 per cent from April 2023.
Average sale prices are down year over year, the OREB says. House prices declined seven per cent to an average of $745,902, but on-par with prices in April 2023, when it was $747,123. Average condo prices dropped six per cent from 2022 to $442,859, which is also down two per cent from April 2023.
OREB says year-to-date average home sale prices are at $727,728, a 12 per cent drop from 2022. Condos are averaging $428,394, a nine per cent decrease.
However, the prices in May mark an increase over where prices were at the end of last year, Dekker says.
