Year In Review – The 2024 Ottawa Real Estate Statistics

The Ottawa Real Estate Board have released their final statistics for 2024 and we finally have the final verdict on how the Ottawa Real Estate Market performed over the past year.

How The Ottawa Real Estate Market Performed in 2024

Below is a chart of how all three property types have performed over the past 10 years, so 2024 starts at the last line at the right of these charts.

Ottawa Condo Apartment Price Graph 2015-2024

Ottawa Condo Townhouse Price Graph 2015-2024

Ottawa Detached Home Price Graph 2015-2024

So what is the takeaway from the year in review?

As you can see, aside from the seasonal bump, the market was… just flat. In fact, prices have been pretty much flat since late 2022.

Inventory is growing a bit, so it stands to reason that 2025 might see slightly lower prices than 2024, but new stimulus policies introduced late last year and lower interest rates might also buoy the market.

In the meantime, my best advice is to always think about the long term and make real estate investment plans based off of your personal goals and vision.

Best,

Chris Hendricks, J.D., REALTOR®, Real Estate Broker

P.S.  Did you know the best time to sell your home is during the spring market—between February and April? As you can see from the charts above, almost every year there is a bump in the market in spring. That’s because spring is when buyer interest is at its peak, and home prices are often at their highest. But to make the most of this prime selling season, preparation is essential.

If you are thinking of selling your home this spring, check out my free eBook – 28 Tips to Sell Your Home Quickly and for the Best Price, it contains actionable and useful tips you can use right now to help prepare your home, so you can sell with confidence knowing you are not leaving money on the table.