Ottawa Market Stats are out.  As we experienced the typical slowdown around the holidays, the market finished the year on a high note (home sales totaled 13,526 an 11.8% y/y increase) the number of active listings remained high with 3216 (the highest since 2016) and the absorption of new properties will vary greatly depending on property type, condition and location. 

Congrats to Trent on the purchase of his first home!  I’ve always been a big fan of looking at homes around the slow months of the year, and we got a great deal, for a great guy, on this one!  

November continued the strength of the residential real estate market we saw in October; sales were up nearly 46% compared to the slowdown of November 2023, with a very robust sales to list ratio of 78% (highest in three years).  Months of inventory has slowly increased as expected for this time of year, but with a strong absorption rate and a projected jumbo rate cut tomorrow, the end of the year is looking to finish on a high note.  

September featured a brisk market, with sales rising 11.4% versus September of last year. Prices have been stable, the September monthly average price of 685k slightly nudges the year-to-date average of 679k. Months of inventory have increased to 3.4, a .4 jump over August as a jump in new listings continue to add to the supply, giving buyers even more choice for homes.