In April 2024, Ottawa's real estate market saw 1,456 homes sold through the MLS® System, up by 8.9% compared to April 2023. Despite this, sales were slightly below the five-year and ten-year averages for April. Year-to-date, home sales increased by 11.5% compared to the same period in 2023, totaling 4,132 units.

OREB President Curtis Fillier noted a restored confidence among both buyers and sellers, leading to more listings and a balanced market. While the economy's pace remains cautious, Ottawa's real estate market is strong and stable.

Fillier highlighted changes in buyer demographics, with townhomes shifting to a seller's market due to limited supply. Single-family homes are in high demand, affecting average sale prices. Looking ahead, factors like the upcoming federal election and back-to-work mandates for government employees will influence the market. Access to detailed insights and data from REALTORS® will help buyers tailor their strategies accordingly.

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