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The President of the Ottawa board summarized the month quite nicely: "Overall, Ottawa continues to display a pattern of measured balance, modestly improving demand, steady prices, and a market environment that remains fundamentally healthy as it heads toward year-end."
Despite seeing both an increase in listings since October 2024, and a decrease in sales compared to October 2024, the October market was resilient with an increase of sales of 2.6% versus September and prices edging up higher YTD to 3% y/y (for all properties as a whole). Months of inventory are still sticky sitting at 3.6 months, with months of inventory for apartment style condos now at 5.6 months - just on the cusp of the 6 months+ (definition of a buyer's market).
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September Market Report
Despite y/y prices for the total market still being up 2.7%, September's activity is a sign of continued slowing-down heading into the end of the year. Sales were up for the month versus last year, but the rise in new listings is very telling with only a 38.5% ratio of sales to new listings (a drop of over 6% versus last year), months of inventory creeping up to 4.0, and the number of active listings for the month of September being 4388.
These are the highest levels of active listings and months of inventory since 2016.
Townhome inventory for September-only is just 2.3 (almost in seller market territory) and every metric for townhomes presents a much different picture than apartment-condos where the months of inventory is now up to 5.1. Within each segment it's important to understand the all the property-specifics of each home in its respective market.
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Just Purchased!

Congrats to my awesome first-time home buyers! This is amazing property, in one of the best condition of homes for its age that I've seen - all-in-all, a fantastic purchase! I can't wait to see how everything looks when Pat and Hannah move in and start adding their personal touches.

☺️

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8833 Copeland Road, featuring nearly 3000 square feet of livable space, on 2.55 acres just outside Stittsville!

This home has it all!

Triple Car, Fully-Insulated and Heated Garage with Epoxy Flooring!

Large Primary Bedroom featuring a very generous WIC and 5 pcs Ensuite!

Not One, but Two Junior Suites featuring their own Ensuite Bath

A Fantastic Basement Rec Space with Bar featuring 9 Ft Ceilings and a Spacious Gym that could be a 4th Bedroom

Private Lot surrounded by Trees!

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July Market Commentary

July Market Stats are out! No one living in Ottawa needs a reminder that we're in the dog days of summer - hopefully your AC is working!

Late July typically experiences a summer-lull as buyers and sellers go away on holidays and are pre-occupied with other family commitments.

The summer slowdown has brought an increased level of inventory with 4205 active listings on the market, an increase of 14% over 2024, further demonstrated by the increase in months of inventory now at 3.2 (right in the middle of a balanced market) and the highest since 2017 (months of inventory in July were 3.3). The sales activity is relatively strong, as July had the highest number of sales since 2021, with prices remaining resilient - SFH (Single Family) up 2% y/y, apartments dropping 1.6% y/y and townhomes representing the biggest increase by far with an 8.3% increase y/y. As always, specific properties even within each segment, can perform quite differently based on a number of factors (specific location/build, builder, condition, amenities, etc.) and it's important to look at market aggregates as a representative of the market as a whole, and not for evaluating specific properties.

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I'd like to say a big congrats to my buyers on purchasing their forever home, I couldn't be more happier for them.  I know they'll love it here!
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June Market Report
Bammo!  The Residential Market Report in June really was a tale of two cities - freehold residential properties, which were very strong - 5.2% year/year, and apartment style condos which continue to struggle, with months of inventory for apartment condos now up to 4.2 (versus 2.3 for townhomes).  June sales as the market as a whole was strong, sales were up 3.8% above the five year average and new listings increased 14% year/year.   It's important to note that despite a higher level of relative listings, that the market is still very property-specific and certain areas, style of homes, builder, etc. can produce very different selling results
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Categories:   Ottawa Real Estate
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