Here are the January 2025 numbers:
- Total number of units sold: 617 – down 4.2% January 2024.
- Five-year average unit sales for January: down 13%.
- Ten-year average unit sales for January: down 9.6%.
“Ottawa’s market is seeing increased activity as more listings hit the market and buyers start to re-engage,” says OREB President Paul Czan. “Many buyers and sellers had been waiting for more conducive market conditions, but with the recent rate cut and potentially lower interest rates on the horizon, optimism is growing. While there’s more supply, the availability of suitable properties in various market segments remains tight. This is reflected in some homes selling quickly while others linger on the market. Sellers should be prepared to price competitively and present their homes in the best light to capture buyer interest in this evolving market.”
“The recent Bank of Canada rate cut, introduction of U.S. tariffs, along with upcoming provincial and federal elections, introduce factors of variability,” adds Czan. “That said, confidence is growing, and more buyers are expected to return to the market in the coming months, leading to an increase in transactions.”
Here are the January 2025 sales numbers:
- Average sale price of homes sold: $670,258 – up 5.8% in January 2024.
- Benchmark single-family homes price: $713,000 – up 2.3% in January 2024
- Benchmark townhouse/row unit price: $448,000 – down 3.9% in January 2024.
- Benchmark apartment price: $436,900 – up 4.5% in January 2024.