Courtesy of The MacGowan Team

Modest Gains Across Ottawa’s MLS ® Market a Sign of Shared Confidence

$423,100 apartment UP 2.1% year-to-year

$727,700 single family

BENCHMARK PRICES

UP 1.6% year-to-year

2,597 NEW LISTINGS

PROPERTY SALES Single Family: 800 Apartment: 198

MONTHS OF INVENTORY Single Family: 2.1 Apartment: 2.7

DAYS ON MARKET Single Family: 14 Apartment: 22

OTTAWA, May 6, 2024 - The number of homes sold through the MLS ® System of the Ottawa Real Estate Board totaled 1,456 units in April 2024. “It’s a typical spring in Ottawa’s real estate market,” says OREB President Curtis Fillier. “What sets it apart from recent springs is a restored mutual confidence among both buyers and sellers. Buoyed by recent sales activity, sellers are more confident that they can move their property as evidenced by the uptick in listings. For buyers, the pressure of the pandemic market has eased and they’re comfortable taking the time to find the property that best suits their needs. The pace is still conservative while the economy is holding some back, but overall Ottawa’s market is strong and stable, and that’s a win-win.”

The overall MLS ® HPI composite benchmark price was $643,700 in April 2024, a marginal gain of 1.6% from April 2023. The benchmark price for single-family homes was $727,700, up 1.6% on a year over-year basis in April. By comparison, the benchmark price for a townhouse/row unit was $500,800, up slightly at 1% compared to a year earlier. The benchmark apartment price was $423,100, up 2.1% from year-ago levels. There were 2,597 new residential listings in April 2024 Active residential listings numbered 2,966 units on the market at the end of April 2024. Months of inventory numbered 2 at the end of April 2024. Statistics reflect market activity in April 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.

Direct. 613-859-1317 Mike@MacGowanTeam.com www.MacGowanTeam.com

Mike MacGowan REALTOR ® 613.859.1317

Ken MacGowan B.Comm., CPA, CMA, Real Estate Broker 613.791.5480

Daren MacGowan REALTOR ® 613.324.5294

Each Office Independently Owned and Operated. 747 Silver Seven Rd UNIT 29, Ottawa, ON K2V 0H2 Affiliates Realty Ltd., Brokerage

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