Courtesy of The MacGowan Team

Ottawa MLS ® Market Shows Early Signs of a Buzzing Spring Market

$423,200 Apartment UP 4.3% year-to-year

$719,000 Single Family

UP 2.6% year-to-year

BENCHMARK PRICES

2,074 NEW LISTINGS

PROPERTY SALES Single Family: 580 Apartment: 194

MONTHS OF INVENTORY Single Family: 2.6 Apartment: 2.4

DAYS ON MARKET Single Family: 14 Apartment: 20.5

Ottawa, April 4, 2024 - The number of homes sold through the MLS ® System of the Ottawa Real Estate Board totaled 1,165 units in March 2024. “Ottawa’s real estate market is overall healthy, providing fertile ground for an active spring and summer ahead,” says OREB President Curtis Fillier. “The increases in new and active listings indicate that sellers are feeling more confident, boosted by the rise in showing activity. Buyers, however, aren’t acting as quickly as they perhaps should be — likely because affordability and supply are still roadblocks.” The overall MLS ® HPI composite benchmark price was $636,700 in March 2024, a gain of 2.7% from March 2023. The benchmark

price for single-family homes was $719,000, up 2.6% on a year over-year basis in March. By comparison, the benchmark price for a townhouse/row unit was $489,800, up slightly at 0.9% compared to a year earlier. The benchmark apartment price was $423,200, up 4.3% from year-ago levels. There were 2,074 new residential listings in March 2024. Active residential listings numbered 2,543 units on the market at the end of March 2024. Months of inventory numbered 2.2 at the end of March 2024. Statistics reflect market activity in Mar 2024 | Source: OREB ® Ottawa Real Estate Board | Market values stated are of the average of Ottawa and surrounding region. Individual home market values will vary and are affected by factors such as location, size, interior and exterior condition. Please call to get an up-to-date evaluation of your home.

Direct. 613-859-1317 Mike@MacGowanTeam.com www.MacGowanTeam.com

Mike MacGowan REALTOR ® 613.859.1317

Ken MacGowan B.Comm., CPA, CMA, Real Estate Broker 613.791.5480

Daren MacGowan REALTOR ® 613.324.5294

Each Office Independently Owned and Operated. 747 Silver Seven Rd UNIT 29, Ottawa, ON K2V 0H2 Affiliates Realty Ltd., Brokerage

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