Here are the April 2024 numbers:
- Total number of units sold: 1,456 – up 8.9% April 2023.
- Five-year average unit sales for April: down 2%.
- Ten-year average unit sales for April: down 6.9%.
“It’s a typical spring in Ottawa’s real estate market,” says OREB President Curtis Fillier. “What sets it apart from recent springs is a restored mutual confidence among both buyers and sellers. Buoyed by recent sales activity, sellers are more confident that they can move their property as evidenced by the uptick in listings. For buyers, the pressure of the pandemic market has eased and they’re comfortable taking the time to find the property that best suits their needs. The pace is still conservative while the economy is holding some back, but overall Ottawa’s market is strong and stable, and that’s a win-win.”
“The real story is in the details,” says Fillier. “Looking more closely at what’s selling and for how much suggests the demographic of buyer is changing. While most of Ottawa’s market is in balanced territory, townhomes have shifted to the seller’s market side as supply shrinks. Single-family homes are the most active market, which is inflating the average sale price. The next few months will be both telling and interesting as people continue to redefine their post-pandemic normal amid an upcoming federal election and back-to-work mandate for government workers. The detailed insights and data that REALTORS® have unique access to will be invaluable in helping buyers fine-tune their strategy for their specific neighbourhood and property type.”
Here are the April 2024 sales numbers:
- Average sale price of homes sold: $705,117 – up 1.2% in April 2023.
- Benchmark single-family homes price: $727,700 – up 1.6% in April 2023
- Benchmark townhouse/row unit price: $500,800 – up 1% in April 2023.
- Benchmark apartment price: $423,100 – up 2.1% in April 2023.
