The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,545 units in May 2024. This was a decrease of 9.2% from May 2023.
The average price of homes sold in May 2024 was $690,683 increasing 0.8% from May 2023. The more comprehensive year-to-date average price was $679,862, increasing by 1.8% from the first five months of 2023. The dollar volume of all home sales in May 2024 was $1.06 billion, down 8.5% from the same month in 2023.
“Ottawa’s early spring market was unsurprisingly steady,” says OREB President Curtis Fillier. “The increase in new listings indicate that sellers are more confident that properties are moving as market activity picks up. Some buyers, however, were likely waiting for the Bank of Canada’s interest rate announcement to see if it would affect their purchasing power. The first interest rate cut in four years is good news, but expectations still need to be managed as long as supply issues and high home prices persist.”
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Properties Sold
Decrease in Homes Sold
Benchmark price (residential)
Benchmark price (condos)
Welcome to 616 Borthwick Ave, an end unit townhouse in Castle Heights, boasting all-brick construction and three bedrooms. Just 15 minutes from downtown!
1879 Leclair stands out above the rest. This 3-bed home offers privacy & convenience, featuring mature trees, no rear neighbors, a 2-car garage and a private fenced-in yard with a deck.
This bright and inviting 3-bedroom townhouse offers an exceptional blend of comfort and style over two levels (main floor and 2nd level), perfect for modern living.