Members of the Ottawa Real Estate Board sold 862 residential properties in December, compared with 997 in December 2020, a decrease of 14 per cent.
The average residential-class home sold for $716,992 last month, up from just over $600,000 a year earlier, the Ottawa Real Estate Board said Friday.
Board president suggests owners of rental properties who might have put them on the resale market in the past are retaining homes and condos “for investment purposes.”
Purchasers were hit with double-digit price increases in September despite a drop in sales compared with a year earlier.
Overall sales in Ottawa were down compared with 2020 for the second straight month.
The average sale price of a residential-class property in the capital was about $685,000 last month, up 17 per cent from a year ago.
The average price of a residential-class property in Ottawa was $725,970 last month, up 26 per cent from a year earlier but below the year-to-date average of more than $734,000.
The average residential-class property in the capital sold for $741,000 in May, an increase of 35 per cent over the same month a year ago.
Residential-class homes in Ottawa sold for an average of nearly $743,000 last month, latest figures show.
Average sale price for a residential-class property was $758,802, an increase of 35% from a year ago.