The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,059 units in November 2024 — a slight dip down from the 1,179 units sold the month previous.
The average price of homes sold in November 2024 was $667,098 increasing 4.6% from November 2023. The more comprehensive year-to-date average price was $679,797, increasing by 1.2% from November 2023. The dollar volume of all home sales in November 2024 was $706.4 million, up 51.8% from November 2023.
“Ottawa’s market is making headway on a long road back from the slowdown experienced in 2023,” says OREB Past-President Curtis Fillier. “Buyers have been slow to come back to the market while watching the interest rates lower, and some are waiting to see how new mortgage rules — the extended amortization period and the increased default insurance cap — coming into effect in December may redefine their purchasing power. Sellers have noticed that caution and those who can are likely holding on for a more active spring.”
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Properties Sold
Increase in Homes Sold
Benchmark price (residential)
Benchmark price (condos)
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