Ottawa Real Estate Market - December 2021 Market Activity Update

Usually, every December, the Ottawa resale real estate market typically experiences lower sales because both buyers and sellers take a break from the winter holiday season.

Despite having low sales in December compared to the same month in 2020, the Ottawa resale real estate market generated sales that were slightly better on average than the last five previous years. 

This is what happened in December.

New Property Listings Continued to Decrease

• New residential and condo listings decreased by 37.1% with 600 listings available in the market compared to 745 new listings that existed in December 2020. 

Reduced Sales Continue In Residential Resale Market 

• 601 residential resale properties were sold, a decrease of 15%, compared to 707 properties sold in December 2021. 

• Residential resale properties did not sell quickly on average from 32 days to 30 days on the market, which is an 8.1% decrease from December 2020. 

• Based on the number of properties sold, buyers purchased residential properties in the $500,000 - $550,000, $600,000 - $650,000, and over $1,000,000 price ranges which accounted for 62% of the residential resale property sales.

• Despite lower residential sale numbers compared to December 2020, buyers purchased mostly: 
  • Two-storey properties - average sale price - $736,137 (previously $630,281 in December 2020)
  • Bungalows (1-storey) - average sale price - $669,750 (previously $572,269 in December 2020) 

• In terms of increased sales, most of the residential properties were purchased in:
  • Arnprior - average sale price - $524,864 (previously $411,613 in December 2020)
  • Carleton Place/Perth - average sale price - $571,332 (previously $487,221 in December 2020)
  • Winchester/Morrisburg - average sale price - $479,840 (previously $344,907 in December 2020)

Continued Reduced Sales In Condo Resale Market 

• 261 units were sold compared to 290 units sold in the same month in 2020, a 10% decrease. 

• Similar to the residential market, there were slow sales of condos where they were sold on average from 37 days to 34 days on the market, which is a 6.9% increase from the same month in 2020.

• Based on the number of units sold, most buyers purchased condo units priced in the $250,000 - $450,000 price range, accounting for 70.1% of the condo sales. 

• Despite lower condo sales compared to December 2020, the most sold condo units were:  
  • Two-storey units - average sale price - $414,532 (previously $341,414 in December 2020)
  • One-level units - average sale price - $380,040 (previously $364,280 in December 2020)

• Most of the condos purchased were in:
  • Downtown/Central Ottawa - average sale price - $406,184 (previously $385,922 in December 2020).

Continued Increased Sales In The Luxury Home Market

• There was a 10.5% increase in luxury homes sales (priced over $1,000,000) compared to December 2020.

Other Real Estate Trends

Other popular districts where there was sales activity were:

Barrhaven:

Kanata:

Orleans:

Source: Ottawa Real Estate Board