This past July, the Ottawa Real Estate Board (OREB) saw an increase in home sales, with 1,241 units sold—13.6% up compared to July 2023. New residential listings surged by 17.1% from July 2023, totalling 2,231, although they remained below the five- and ten-year averages. Active residential listings saw a significant rise, with 3,480 properties on the market at the end of July 2024—37.0% higher than in July 2023.
The benchmark price for single-family homes reached $734,700, reflecting a slight 0.1% decrease from July 2023. Townhouses and row units saw prices up 3.4% to $506,100, while apartment prices decreased by 0.9%, settling at $422,800. The average selling price of homes in July 2024 was $679,610, marking a 2.1% decrease from the previous year.
This data provides valuable insights into the shifting dynamics of Ottawa’s real estate market, highlighting a mix of price adjustments and increased market activity, offering opportunities for both buyers and sellers.
