What Happened in July

Last month members of the Ottawa Real Estate Board sold 1241 residential properties, an increase of 13.6% from July 2023. 652 (+9.8%) were Detached Homes, 395 (+18.6%) were Townhouses, and 395 (+18.9%) were Apartments.

We had 2231 new properties listed for sale in July 2024 (17.1% more than July 2023) leaving the total number of residential properties for sale at 3480 an increase of 37.0% from the beginning of July 2023. We currently have 2.8 Months of Inventory on the market.


The Median days for properties of all types to sell in July 2024 was 22, four days more than in June 2024 and six days more than in May 2024.


The average sales price for a Detached home was $825,623 down 2.5% year over year while Townhouses sold for an average of $552,532 (+0.5%) and Apartments sold for an average of $450,372 (+2.3%).


The MLS® Home Price Index Benchmark Price for all residential properties in Ottawa for July 2024 was $679,610, down 2.1% from Last July.

2023 in Review

Last year members of the Ottawa Real Estate Board sold 11,887 residential properties, a decrease of 11.0% from 2022. 6159 (- 9.0%) were Single Family Homes, 3838 (- 12.3%) were Townhouses, and 1890 (- 13.2%) were Apartments.


We had 20,723 new properties listed for sale in 2023 (8.8% less than 2022) leaving the total number of residential properties for sale at 1838 an increase of 3.0% from the beginning of 2022. We currently have 2.4 Months of Inventory on the market.


The Median days for properties of all types to sell in 2023 was 18, 9 days longer than in 2022.


The average sales price for a Single Family Home was $818,345 down 5.5% 2022 while Townhouses sold for an average of $544,981 (- 7.6%) and Apartments sold for an average of $440,821 (- 2.6%).


The MLS® Home Price Index Benchmark Price for all residential properties in Ottawa for December 2023 was $623,900, down 0.8% from November 2023 and up 2.7% from last December(2022).