Ottawa Monthly Market Spotlight - October 2024In October 2024, the Ottawa Real Estate Board’s MLS® System reported 1,179 home sales, showing a solid uptick from the 1,047 transactions
Ottawa Monthly Market Spotlight - April 2024
Dated: May 9 2024
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As we step into the blossoming spring market, we witnessed a notable increase in units sold compared to the previous month. In April, the total number of homes sold through the MLS® System of the Ottawa Real Estate Board reached 1,456 units. This marked an impressive 8.9% increase from April 2023.
Townhouses and row units continued to show resilience in the market, with the benchmark price holding steady at $500,800. This reflects a marginal 1% increase compared to April of the previous year.
Meanwhile, apartments maintained their upward trajectory, with the benchmark price hitting $423,100 in April. This marks a 2.1% increase from the prices recorded a year ago.
The overall MLS® HPI composite benchmark price was $643,700 in April 2024, showing a marginal gain of 1.6% from April 2023.
As we approach the anticipated rate adjustments this summer, the market continues to exhibit positive trends and favorable conditions for buyers. However, it’s important to recognize that these conditions may shift as we transition toward a seller’s market in the coming months.
For those considering a home purchase, now may be an opportune time to explore your options before market dynamics evolve further.
Connect with us today to learn how you can leverage these trends to your advantage!
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Marwan Khalil
With a rich background in Ottawa spanning over 20 years, my passion for real estate has flourished within the vibrant tapestry of the city's diverse communities and industries. This extensive period o....
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