2,011 residential properties were sold in the month of March, compared to 2,274 sold in March 2021.That’s a decrease of 12%.
“Although the number of sales in March decreased from last year at this time, it was still a robust and busy start to the spring season. Transactions increased 42% over February (590 units) and were 12% higher than the 5-year average. Last March was unseasonably warm in comparison, and the lion-like weather that pervaded most of this March may have played a role. More likely, the lifting of some restrictions and opportunity for unfettered travel during the spring break had peoples’ attention turning towards other activities during the month,” states Ottawa Real Estate Board President Penny Torontow.
Spring is officially here & now is the best time to work with a realtor as we know the day-to-day variabilities Ottawa’s resale market is currently experiencing. Contact Brooke & Jenna if you have any questions or for a free comprehensive comparative market analysis. We are always happy to help!
Source: Ottawa Real Estate Board, www.oreb.ca
Here is a breakdown of March 2022 Ottawa Real Estate Market Numbers: