Here are the September 2024 numbers:
- Total number of units sold: 1,047 – an increase of 11.4% in September 2023.
- Five-year average unit sales for September: down 17.4%.
- Ten-year average unit sales for September: down 15.4%.
“As we navigate a shifting housing market, Ottawa’s fall outlook is healthy,” says OREB President Curtis Fillier. “Activity is robust with an uptick in sales and prices remaining steady. Meanwhile, both buyers and sellers are rethinking their purchasing power amidst news about additional interest rate cuts on the horizon, longer amortizations, and increased price caps for insured mortgages.”
“There have been encouraging policy developments recently that will stimulate demand,” says Fillier. “But Ottawa’s market does not typically have demand problems — we have chronic supply issues. We’re not building enough homes in the city, and we’re not building enough of the right homes to address the ‘missing middle.’”
Here are the September 2024 sales numbers:
- Average sale price of homes sold: $685,551 – up 1.4% in September 2023.
- Benchmark single-family homes price: $729,000 – up 0.5% in September 2023
- Benchmark townhouse/row unit price: $500,000 – down 1.7% in September 2023.
- Benchmark apartment price: $414,200 – down 1.3% in September 2023.