Housing Market Update for Ottawa, October 1, 2024. The average price for a home in Ottawa (including residential homes and condos) is now $679,537, an increase of 1.0% over September, 2023.
CHAPTERS
00:00 Introduction
00:17 Total Home Sales
00:33 Freehold House Average Price
00:43 How long for homes to sell
00:54 Total Condo Sales
01:04 Condo average price
01:14 How long for condos to sell
01:25 Is Ottawa a buyers or sellers market
02:10 Ottawa Month over month prices 2024
Breaking down the average prices into houses and condos.
The average price for a freehold house in Ottawa for September was $785,187, up 0.9%. This includes detached singles, Townhouses and Semi-Detached homes.
The average price for a condominium in Ottawa for September was $431,154 down 2.1%. This includes apartments, row units and stacked-style condos.
Number of Home Sales versus last year.
Ottawa had 821 Residential Properties sell in September 2024, up 11.1%. (includes freehold and condos). 576 sales were freehold, up 13.2%, and 245 were condo sales, up 6.5% over last year.
How long does it take to sell a Home in Ottawa?
Last month Freehold houses took 29 days to sell versus 26 days last year and Condominiums are taking 40 days to sell versus 31 days last year.
Inventory Levels, how many homes are on the market?
There were 2,352 Residential Properties listed for sale at the end of last month within our territory.
Is it a Buyer's, Seller's or Balanced Market?
With an inventory of 2,352 homes and 821 sold, there are 2.9 months or 11.5 weeks of supply which translates to a Seller's Market.
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