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
Monthly Spotlight Update
Dated: August 2 2021
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Welcome to the monthly spotlight update on the Ottawa real estate market. For this update we are taking a look at the month of July, 2021.
During the month of July homes in the city of Ottawa and the surrounding areas have sold a total of 1,724 homes. This is a 21% decrease year over year from 2020. Of the total homes sold 1,312 were residential and 412 were condominium homes.
We have also found that the average prices of those homes sold have risen to $654,169 from last year. That is a total increase of 19.03% year over year. With residential homes averaging at $685,426 and condominium homes averaging at $419,545.
Interestingly enough the average days a listing spent on the market here in the month of July was 20 days. Wheras in the previous month it was 11 days. This indicates that the Seller's market has de-intensified in the last month and shifting the favour towards the buyers.
If you are currently on the market to buy a home for the first time, upgrade from your current home, downsize or even looking for an investment property; now may be a great time for you and were more than happy to help!
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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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