Source: OREB
What happened in the Ottawa market in April 2024?
With our weather heating up, so is the Ottawa market. This past April we saw prices continuing the upward trend we’ve seen over the past four months. The average price of homes sold has continued to increase by 1.2% as compared to April 2023 and increased by 3.4% compared to March 2024.
As for inventory, we a steady increase in the number of home sold, and a pretty substantial increase in the number of new and active listings at 40.5% and 36.3% respectively. While the spring market always sees more movement than winter, this is quite a substantial increase from April 2023 which saw a decrease in inventory.
All of this shows some promising signs as the Ottawa market stabilizes following the unexpected changes over the past few years. While we know the numbers can’t predict the future, they are always a helpful indicator in demonstrating what happened in the Ottawa market in April 2024. Curious how these numbers might impact you?
