Housing Market Update for Ottawa, July 1, 2024. The average price for a home in Ottawa (including residential homes and condos) is now $681,089, an increase of 0.3% over June, 2023.

Breaking down the average prices into houses and condos:
The average price for a freehold house in Ottawa for June was $778,770, down 1.2%. This includes detached singles, Townhouses and Semi-Detached homes.

The average price for a condominium in Ottawa for June was $446,295 down 2.1%. This includes apartments, row units and stacked-style condos.

Number of Home Sales versus last year.
Ottawa had 1113 Residential Properties sell in June 2024, down 4.6%. (includes freehold and condos). 786 sales were freehold, up 0.3%, and 327 were condo sales, down 14.6% over last year.

How long does it take to sell a Home in Ottawa?
Last month Freehold houses took 22 days to sell versus 18 days last year and Condominiums are taking 30 days to sell versus 27 days last year.

Inventory Levels, how many homes are on the market?
There were 2,356 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 2,356 homes and 1,113 sold, there are 2.1 months or 8.5 weeks of supply which translates to a Seller's Market.

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