What Happened in January
Last month members of the Ottawa Real Estate Board sold 629 residential properties, an increase of 16.5% from January 2023. 308 (+ 16.5%) were Single Family Homes, 217 (+ 14.2%) were Townhouses, and 100 (+ 19.0%) were Apartments.
We had 1,271 new properties listed for sale in January 2024 (7.3% more than Jan 2023) leaving the total number of residential properties for sale at 1,954 an increase of 4.5% from the beginning of 2023. We currently have 3.1 Months of Inventory on the market.
The Median days for properties of all types to sell in January 2024 was 43, 7 days longer than in January 2023 and 9 days longer than the previous month, December 2023.
The average sales price for a Single Family Home was $770,869 up 2.1% year over year while Townhouses sold for an average of $541,976 (+ 0.7%) and Apartments sold for an average of $414,679 (+ 0.6%).
The MLS® Home Price Index Benchmark Price for all residential properties in Ottawa for January 2024 was $621,600, up 3.2% from January 2023 and down 0.4% from December 2023.
Pop over to our website https://www.thetulipteam.com/stats/ to stay up to date on the Ottawa real estate market and see the 10 & 65-year history of house prices, condo prices, home & condo sales, and inventory of homes for sale in Ottawa.
The Tulip Team Blog 