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).
