November 2024 Ottawa Real Estate Stats

Here are the November 2024 numbers:

  • Total number of units sold:  1,059
  • Five-year average unit sales for November: down 3.1%.
  • Ten-year average unit sales for November: down 0.5%.

“Ottawa’s market is making headway on a long road back from the slowdown experienced in 2023,” says OREB Past-President Curtis Fillier. “Buyers have been slow to come back to the market while watching the interest rates lower, and some are waiting to see how new mortgage rules — the extended amortization period and the increased default insurance cap — coming into effect in December may redefine their purchasing power. Sellers have noticed that caution and those who can are likely holding on for a more active spring.” 

“There will be the typical slowdown at this time of the year as people’s attentions turn to the holidays, and the snow starts to cover a property’s selling features,” says Fillier. “With prices holding steady and open houses getting traffic, though, people are keeping a close eye on opportunities.” 

Here are the November 2024 sales numbers:

  • Average sale price of homes sold: $667,098 – up 4.6% in November 2023.
  • Benchmark single-family homes price: $722,400 – up 2.1% in November 2023
  • Benchmark townhouse/row unit price: $491,500 – up 0.3% in November 2023.
  • Benchmark apartment price: $406,200 – down 3.7% in November 2023.