Here are the October 2024 numbers:
- Total number of units sold: 1,179
- Five-year average unit sales for October: down 3.9%.
- Ten-year average unit sales for October: down 0.9%.
“We’re seeing positive movement in Ottawa’s market with sales activity up,” says OREB President Curtis Fillier. “This is especially interesting because there has been sustained activity throughout the year instead of the typical seasonal spikes and lulls. Consumer confidence is getting stronger, boosted by another consecutive Bank of Canada interest rate cut — though many are waiting for additional rate drops.”
“The challenge remains supply,” says Fillier. “We know from experience that Ottawa’s inventory leans tight and can swing quickly from balanced territory to a seller’s market — which can compound affordability and accessibility challenges. Now is always the time for fresh action and innovative policies that can create much-needed inventory.”
Here are the October 2024 sales numbers:
- Average sale price of homes sold: $668,690 – up 1.2% in October 2023.
- Benchmark single-family homes price: $724,500 – up 0.7% in October 2023
- Benchmark townhouse/row unit price: $506,900 – up 1.6% in October 2023.
- Benchmark apartment price: $407,500 – down 3.4% in October 2023.