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November Residential Resales: Expectedly Low

Members of the Ottawa Real Estate Board (OREB) sold 846 residential properties in November through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,456 in November 2021, a decrease of 42%. November’s sales included 658 in the residential-property class, down 39% from a year ago, and 188 in the condominium-property category, a decrease of 50% from November 2021. The five-year average for total unit sales in November is 1,270.

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A Message from Penny Torontow, President, Ottawa Real Estate Board

People place a significant amount of trust in REALTORS® during the homebuying process. It’s the largest purchase a person will make and an essential need: a home. I, along with all my colleagues at the Ottawa Real Estate Board (OREB), am angered and disheartened by the behaviour portrayed on CBC Marketplace of real estate agents engaging in mortgage fraud. Without question, this behaviour is unacceptable.