Ottawa’s real estate market saw an 11 per cent boost in sales in September as interest rates continued to fall, but real estate agents warn “chronic supply issues” are hurting the market.
The Ottawa Real Estate Board says 1,047 homes were sold in September, up from 946 homes sold in September 2023. Statistics show the benchmark price for homes sold in Ottawa was $642,800 in September, up 0.2 per cent from the year before.
“As we navigate a shifting housing market, Ottawa’s fall outlook is healthy,” Curtis Fillier, OREB president, said in a statement.
“Activity is robust with an uptick in sales and prices remaining steady. Meanwhile, both buyers and sellers are rethinking their purchasing power amidst news about additional interest rate cuts on the horizon, longer amortizations, and increased price caps for insured mortgages.”
- Sign up now for daily CTV News Ottawa newsletters
- The information you need to know, sent directly to you: Download the CTV News App
…