Here are the January 2024 numbers:
- Total number of units sold: 629 – up 16.5% January 2023.
- Five-year average unit sales for January: down 10.7%.
- Ten-year average unit sales for January: down 3.9%.
Here are the January 2024 sales numbers:
- Average sale price of homes sold: $631,772 – up 1.8% in January 2023.
- Benchmark single-family homes price: $703,500 – up 3.7% in January 2023
- Benchmark townhouse/row unit price: $462,200 – down 2.1% in January 2023.
- Benchmark apartment price: $418,500 – up 3.7% in January 2023.
“Ottawa’s market activity is seeing positive gains over last year but it’s still a relatively quiet market even by pre-pandemic standards,” says OREB President Curtis Fillier. “While REALTORS® are telling us there’s lots of showing activity — probably thanks in part to the forgiving winter thus far — it’s not all translating to sales. This tells us that buyers are back out there looking, but still approaching cautiously. During the pandemic market, buyers had to move quickly and sometimes settle for a property that didn’t check all their boxes. Today, buyers are using the slower market to take the time needed to find their perfect place. Sellers would be well-advised to adjust their expectations and thoughtfully consider their pricing and timing strategy using the negotiating expertise and hyper-local data their REALTOR® can provide.”
