Courtesy of Fatimah & Ameenah Elbarrani

Ottawa’s MLS ® Home Sales Healthy Amid a Shifting Market

DOWN 1.3% year-to-year $414,200 apartment

$729,000 single family

BENCHMARK PRICES

UP 0.5% year-to-year

3.4 MONTHS OF INVENTORY

2,343 NEW LISTINGS 1,047 SOLD LISTINGS

3,529 ACTIVE LISTINGS

OTTAWA, October 7, 2024 - The number of homes sold through the MLS ® System of the Ottawa Real Estate Board (OREB) totaled 1,047 units in September 2024. “As we navigate a shifting housing market, Ottawa’s fall outlook is healthy,” says OREB President Curtis Fillier. “Activity is robust with an uptick in sales and prices remaining steady. Meanwhile, both buyers and sellers are rethinking their purchasing power amidst news about additional interest rate cuts on the horizon, longer amortizations, increased price caps for insured mortgages, and relaxed stress tests for borrowers.”

The overall MLS ® HPI composite benchmark price was $642,800 in September 2024, an increase of 0.2% from September 2023. The benchmark price for single-family homes was $729,000, up 0.5% on a year-over-year basis in September. By comparison, the benchmark price for a townhouse/row unit was $500,000, down 1.7% compared to a year earlier. There were 2,343 new residential listings in September 2024. Active residential listings numbered 3,529 units on the market at the end of September 2024. Months of inventory numbered 3.4 at the end of September 2024. Statistics reflect market activity in September 2024 | Source: OREB ® Ottawa Real Estate Board | Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Ameenah: 613-263-6153 Fatimah: 613-276-0987 info@thebarraniteam.com

@The Barrani Team - Real Estate

@thebarraniteam

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