About Ottawa Real Estate

September Property Statistics

Ottawa MLS® Home Sales Hold Steady in Lackluster September
October 6, 2023

The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 946 units in September 2023. This was unchanged from September 2022. Home sales were 29.6% below the five-year average and 23.6% below the 10-year average for the month of September. On a year-to-date basis, home sales totaled 9,889 units over the first nine months of the year. This was a large decline of 13% from the same period in 2022.

The average price of homes sold in September 2023 was $675,412, increasing by 2.7% from September 2022. The more comprehensive year-to-date average price was $672,837, a decline of 6.5% from the first nine months of 2022. The dollar value of all home sales in September 2023 was $638.9 million, up modestly by 2.7% from the same month in 2022.

"Sales activity came in right on par with where it stood at the same time last year but was still running well below typical levels for a September," said Ken Dekker, OREB President. "New listings have surged in the past several months, which has caused overall inventories to begin gradually rising again. However, available supply is still low by historical standards, and we have ample room to absorb more listings coming on the market. Our market is also right in the middle of balanced territory, and while MLS® Benchmark prices are down from last year they are still trending at about the same levels from 2021."

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946

Properties Sold

13%

Decrease in Homes Sold

$727,500

Average sale price (residential)

$422,300

Average sale price (condos)

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Craig Dow turned that scary first time home buying process into a streamlined process. Always prompt with a great attention to detail. Good at asking the right questions to help you understand how you really feel. Patient and willing to work with you until the right property comes along. Quickly learns what you tend to like and dislike based off of your (sometimes non-verbal) reactions to previous showings. Works well under strict timelines and takes a lot of the stress out of the situation as he is prepared for seemingly anything and everything that could come up.

John Kellam

Craig helped me purchase my very first condo back in 2012. He was very patient, helpful and knowledgeable as he answered any and all questions and concerns that I had. He is very prompt, thorough and diligent in everything he does. He also provided me with many options for potential homes that he thought would suit my needs, which is why I didn't hesitate to ask him to be my realtor again when I moved last year. I have thoroughly enjoyed the smoothness and easiness both times that he has helped me and would highly recommend him to anyone looking for a similar experience!

Heidi Wong

Craig has gone above and beyond my expectations. From the very first conversation, Craig was intuitive, caring, and patient. He was honest and upfront about everything. Anything he didn't know/wasn't aware of, he was willing to admit, find out and got back to me very promptly. I couldn't have asked for a better Realtor and very grateful for everything Craig has done for me.

Tim and Liz

We were looking for a rural home and had Craig drive us around the Ottawa Valley for a few months, usually taking up all hours of the evening. He was incredibly patient, kind and honest when it was needed. Our time with Craig was enjoyable, and when it came time to get down to business he was incredibly professional, answered all questions we had (we had a lot as first time home buyers). Because of Craig's advice, we were able to land our first dream home. I truly believe that if we didn't listen to Craig we may not be in the house we are in now. I will thank him forever for that. Thank you for being assertive and knowledgeable. I would absolutely recommend Craig to anyone purchasing a home.