Despite the stricter stay-at-home emergency measures imposed to address the COVID-19 pandemic, the Ottawa market continued with growing sales in the residential resale and condo markets, and significant housing price increases, in April.

Here is what happened: 

New Housing Inventory Continued To Rise 

• New listings increased significantly by 147.6% with 4,106 listings available in the market compared to 1,658 new listings that existed in April 2020. (Keep in mind that in April 2020 real estate sales activity slowed down due to the Ontario government imposing wide-ranging shutdowns on the economy in April 2020 when the COVID-19 pandemic began to intensify - hence the low new inventory numbers at that time.).  

Continued Growing Sales In Residential Resale Market 

• The residential resale market generated 1,859 properties sold, an increase of 166.3%, compared to 698 properties sold in April 2020. (Keep in mind that in April 2020 real estate sales activity slowed down due to the Ontario government imposing wide-ranging shutdowns on the economy in April 2020 when the COVID-19 pandemic began to intensify - hence the low residential resale numbers at that time.).   

• Residential resale properties were sold quickly on average from 28 days to 10 days on the market, which is a 64.3% decrease from April 2020.

• Based on the number of properties sold, buyers purchased residential properties in the $550,000 to the over $1,000,000 price range which accounted for 88.5% of the residential resale property sales. 

• Based on the number of properties sold, buyers purchased mostly: 
  • Two-storey properties - average sale price - $780,990 (previously $548,117 in April 2020)
  • Three-storey properties - average sale price - $777,642 (previously $609,051 in April 2020)
  • Bungalows (1-storey) - average sale price - $695,464 (previously $464,361 in April 2020) 

• Most of the residential properties were purchased in:
  • Downtown/Central Ottawa - average sale price - $865,998 (previously $634,881 in April 2020)
  • Kanata/Nepean/Barrhaven - average sale price - $757,371 (previously $534,231 in April 2020)
  • Orleans - average sale price - $724,609 (previously $530,217 in April 2020)
  • Casselman/Rockland/Hawkesbury - average sale price - $569,375 (previously $397,198 in April 2020)
  • Carp/Stittsville - average sale price - $824,525 (previously $560,882 in April 2020)
  • Carleton Place/Perth - average sale price - $610,538 (previously $423,800 in April 2020)

Continued Growing Sales In Condo Resale Market 

• The condo market generated 543 units sold compared to 213 units sold in the same month in 2020, a 154.9% increase. (Keep in mind that in April 2020 real estate sales activity slowed down due to the Ontario government imposing wide-ranging shutdowns on the economy in April 2020 when the COVID-19 pandemic began to intensify - hence the low condo sales numbers at that time.).

• Condo units did not sell quickly compared to residential properties. They were sold on average from 20 days to 14 days on the market, which is a 28% increase from the same month in 2020.  

• Based on the number of units sold, most buyers purchased condo units priced in the $300,000 to under the $500,000 price range, accounting for 68.4% of the condo market. 

• Based on the number of units sold, the most sold condo units were:  
  • Two-storey units - average sale price - $429,176 (previously $305,628 in April 2020)
  • One-level units - average sale price - $419,264 (previously $359,849 in April 2020)

• Most of the condos purchased were in:
  • Downtown/Central Ottawa - average sale price - $440,549 (previously $352,925 in April 2020)
  • Kanata/Nepean/Barrhaven - average sale price - $420,543 (previously $314,371 in April 2020)
  • Orleans - average sale price - $412,642 (previously $286,421 in April 2020) 

Growing Sales in Luxury Properties

• The luxury market (sale prices over $1,000,000) generated growing sales in April with 235 properties sold compared to April 2020 where only 16 properties were sold.