Ottawa Market Update

september 2024

Ottawa’s real estate market showed signs of stabilization in September, with home sales increasing by 11.61% year-over-year and average prices rising by 1.57%. However, the 3.5 months of inventory suggests a more balanced market, offering buyers more options than in recent years.

Townhouse and apartment prices have softened slightly, giving buyers some leverage, though the market remains competitive in certain segments.This market currently leans towards balanced, but buyers may benefit from the slight uptick in inventory and more negotiating room on certain property types, like townhomes and apartments.

Sellers, on the other hand, can take advantage of stable prices, especially in the single-family segment. In the coming months, buyers should expect slightly more options but continued competition in high-demand areas. Sellers will need to price strategically to attract serious offers as the market continues to adjust​.