Sales statistics

market updates - NOVEMBER 2024

Average Sale Price Residential: $667,098 up 4.6% over November 2023
Average Sale Price Condo: $422,570 down -1.8% over November 2023
Total Residential Homes Sold: 1,059 up 45.1% from November 2023
Total Condo Sales: 168 up 19.1% from November 2023
“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.”