HOME SALES: 'Buyer uncertainty' further slow sales in August

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The Ottawa Real Estate Board says that higher interest rates added to the typical August slowdown in sales with lightning\u002Dfast sales a thing of the past in the capital.

Members of the board sold 1,137 residential properties in August through its Multiple Listing Service, down 27 per cent from 1,565 in August 2021.Sign up to receive daily headline news from the Ottawa SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.

“The lightning speed at which homes were selling at the start of 2022 is a thing of the past evidenced by Days on Market inching closer to that 30-day mark.Article content The average sale price for a condo in August was $421,966, up four per cent from August 2021. The average sale price for a residential-class property was $707,712, up five per cent from a year earlier.

 

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