Ottawa City Real Estate Market
Ottawa real estate market presents a blend of diversity, stability, and promising growth opportunities across various property types. Aspiring homeowners and astute investors alike can find their footing in this vibrant market landscape. Ottawa MLS® current statistics indicate an average house price of $936,233 and 675 new listings in the last 28 days. Ottawa’s recent housing data shows median days on the market for a home is 15 days.
Listings on the Market:
Ottawa boasts a diverse array of 786 active listings in the real estate market, signifying a broad spectrum of available housing options. There are 273 townhome listings, catering to the preferences of individuals seeking a balanced lifestyle in the heart of the city. The market flaunts 290 condominium listings, appealing to those in search of modern living spaces.
Average Listing Price in February:
In February, the average listing price for homes surged to $969.5K, illustrating the desirability and value of residential properties within Ottawa.
Townhome listings have maintained a steady average listing price of $601.1K over the same period, reflecting consistency in this segment.
Condominiums showcase an average listing price of $498.7K, making them an enticing option for homebuyers looking for affordable yet sophisticated living.
Change in Average Listing Price:
The market has witnessed a 0.95% increase in the average listing price for homes, marking a gradual but notable upward trend. Townhome listings have shown no change in their average listing price, demonstrating stability in this sector. Despite no change in the average listing price, condos have experienced a significant 20.25% surge in their average sold price, indicating a competitive market for these properties.
Average SOLD Price in February:
The average sold price for homes in Ottawa in February stands at $961.6K, underlining the value and demand prevalent in this segment.
Townhome properties exhibit an average sold price of $567.1K, offering an attractive investment prospect within the city.
Condos showcase an average selling price of $458.5K, portraying a feasible avenue for prospective buyers seeking cost-effective yet high-quality living spaces.
Change in Average SOLD Price:
A noteworthy 7.86% increase in the average sold price for homes emphasizes the robustness of this segment in Ottawa’s real estate market.
The average sold price for townhomes has seen no change, reflecting a steady trend in this domain. Condominiums have experienced a remarkable 20.25% rise in the average sold price, solidifying their appeal and investment potential.
Inventory & SOLD Statistics:
With 1404 new listings in the past 60 days and 10 homes sold within the same period, the real estate market in Ottawa presents a vibrant landscape for both buyers and sellers.
The townhome sector witnessed 688 new listings and 11 homes sold in the last 60 days, indicating a consistent demand for this housing type.
Condos showcase 439 new listings and 8 homes sold in the past 60 days, portraying a market dynamic driven by evolving preferences. Ottawa’s real estate market is characterized by rapid turnover as properties spend an average of 28 days on the market. Additionally, boasting an impressive selling-to-listing price ratio of 99.7% for homes, 99.63% for townhomes, and 99.46% for condos, the market showcases a strong inclination towards fair value and successful transactions.
