Ottawa Real Estate - May Stats (2023)

Ottawa resale market heats up in May

Sales increase for the first time since February 2022

Members of the Ottawa Real Estate Board (OREB) sold 1,939 residential properties in May through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,830 in May 2022, an increase of 6%. May’s sales included 1,477 in the freehold-property class, up 8% from a year ago, and 462 in the condominium-property category, a 1% increase from May 2022. The five-year average for total unit sales in May is 1,961.

“Typically the highest-selling month, May’s transactions did not disappoint,” says Ken Dekker, Ottawa Real Estate Board President. “This month we saw the first year-over-year unit sales volume increase since February 2022. It is a promising year for sellers barring any interest rate adjustments, as we saw a correlated drop in sales every time there was an interest rate hike in 2022.”

“However, with only five to six weeks of inventory, we are in a strong seller’s market. With the pent-up high demand and sales volume increasing, we are likely to see upward pressure on prices as demand continues to outstrip supply.”

By the Numbers – Average Prices*:

  • The average sale price for a freehold-class property in May was $745,902, a decrease of 7% from 2022, but still on par with April 2023 prices.
  • The average sale price for a condominium-class property was $442,859, decreasing 6% from a year ago. However, it marks a 2% increase over April 2023 prices.
  • With year-to-date average sale prices at $727,728 for freeholds and $428,394 for condos, these values represent a 12% decrease over 2022 for freehold-class properties and a 9% decrease for condominium-class properties.

“We are not seeing steep price escalations yet. May’s average prices stayed on par with April’s, although prices are well over what we saw at the end of 2022. With demand mounting in Ottawa’s chronically undersupplied market, I expect the average sale price will surpass last year’s figures for a month over the same month in the latter half of 2023 again—provided we do not see interest rate hikes.”

By the Numbers – Inventory & New Listings:

  • May’s new listings (2,822) were 9% lower than May 2022 (3,117) and up 32% from April 2023 (2,140). The 5-year average for new listings in May is 2,922.
  • Months of Inventory for the freehold-class properties has increased to 1.5 months from 1.2 months in May 2022 but down from 1.9 months in April 2023.
  • Months of Inventory for condominium-class properties has increased to 1.3 months from 1 month in May 2022, although down from 1.9 months in April 2023.
  • Days on market (DOM) for freeholds decreased from 27 to 23 days and 33 to 26 days for condos compared to last month.

“Given our housing stock challenges, some neighbourhoods are again in multiple offer territory. REALTORS® have up-to-the-minute market data and are best positioned to help both buyers and sellers in this evolving competitive resale market.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 2,731 properties compared to 2,230 last year at this time, an increase of 22%.

* OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.





"通常来说,五月份是最繁忙的销售月份,而今年的交易量也不令人失望," 渥太华房地产局主席肯·德克尔(Ken Dekker)表示。"本月我们看到了自2022年2月以来首次出现的同比销售量增加。除非有利率调整,对于卖家来说,这将是一个有希望的年份,因为我们在2022年每次利率上调时都会看到销售量的下降。”


数据统计 - 平均价格:

五月份住址类别物业的平均售价为$745,902,比2022年下降了7%,但与2023年4月的价格持平。 共管类别物业的平均售价为$442,859,比去年同期下降了6%。然而,它相比于2023年4月的价格上涨了2%。 住宅类别物业的年度平均售价为$727,728,共管类别物业的年度平均售价为$428,394,这些数值分别比2022年下降了12%和9%。


数据统计 - 存货量和新上市房源:

五月份的新上市房源(2,822套)比2022年五月份(3,117套)减少了9%,比2023年四月份增加了32%。五月份新上市房源的五年平均值为2,922套。 住宅类别物业的存货月数从2022年五月份的1.2个月增加到了1.5个月,但比2023年四月份的1.9个月,有所减少。 共管类别物业的存货月数从2022年五月份的1个月增加到了1.3个月,尽管比2023年四月份的1.9个月,有所减少。




红宝地产是渥太华第一家拥有门店的地产经纪团队,如果您有任何房产需要,欢迎随时联系. 613-316-0057.


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