Ottawa House for Sale

Main Menu

Jacques' Goodies

Ottawa Listings

April’s Resale Market Starts Strong and Sputters

Members of the Ottawa Real Estate Board sold 2,402 residential properties in April through the Board’s Multiple Listing Service® System, compared with 911 in April 2020, an increase of 164%.
Ottawa Real Estate Board, May 5, 2021

April’s sales included 1,859 in the residential-property class, up 166% from a year ago, and 543 in the condominium-property category, an increase of 155% from April 2020. The five-year average for total unit sales in April is 1,830.

April’s average sale price for a residential-class property was $743,204, an increase of 42% from a year ago while the average sale price for condominium-class property was $427,145, an increase of 30% from last year.

With year-to-date average sale prices at $734,682 for residential and $418,792 for condominiums, these values represent a 35% and 20% increase over 2020, respectively.

 “As the typical spring market ramped up, April was poised to be the strongest on record with over 3,200 new listings of properties for sale. Most of these properties entered the market before the province’s stricter lockdown order was announced midway through the month. At that point, the trajectory sputtered, and while it continued to be active, it followed a noticeable decline as Sellers responded to the government’s resolution to reduce the spread of Covid-19,” states Ottawa Real Estate Board President Debra Wright.

“Nevertheless, the number of transactions managed to surpass unit sales recorded in previous Aprils, and we presume the figures would have been even higher in different circumstances,” she adds.

“As I had cautioned last month, the percentage increases over 2020 figures are vastly skewed due to the first State of Emergency last spring, which had initially slowed down the real estate market. Thus, the 155% to 166% increases in unit sales are simply not valid results. We recorded 2,026 sales in April 2019 and 2,024 in April 2018. These figures provide a more reasonable comparison, which is a 19% increase in overall sales compared to those pre-pandemic years.”