Ottawa Housing Market Report

Ottawa average home prices

The average home price in Ottawa was $679,610 in July 2024 — a 2.10% year-over-year decrease.

The median home price in Ottawa was $630,000 in July 2024 — a 0.80% year-over-year decrease.

Single-family homes ad a benchmark price of $734,700 in July 2024 — a 0.10% year-over-year decrease.

The townhouse / row benchmark home price was $506,100 — a 3.40% year-over-year increase.

The apartment benchmark home price in Ottawa as of July 2024 was $422,800 — a 0.90% year-over-year decrease.

Home prices in Ottawa by home type

The overall average home price in Ottawa is $679,610 with a lower overall median home price of $630,000 as of July 2024. The home prices in Ottawa vary substantially based on the type of home — single-family, townhouse or apartment.

Price of single-family homes in Ottawa

The average price of a single-family home in Ottawa was $825,623 as of July 2024 — a 2.50% year-over-year decrease. The median home price for July 2024 is much lower at $748,500 — a 1.30% year-over-year decrease. There were 652 single-family homes sold in July for 4,374 year-to-date single-family home sales.

Price of townhouses in Ottawa

The average price of a townhouse in Ottawa was $552,532 in July 2024 — a 0.50% year-over-year increase. The median home price for townhomes for the same period was $566,000 — which is a 2.00% year-over-year increase. There were 395 townhouse sales in July 2024 for a year-to-date total of 2,690.

Price of apartments in Ottawa

Apartments in Ottawa had an average price of $450,372 in July 2024 — a year-over-year increase of 2.30%. While the average home price for apartments saw an increase the median home price saw a year-over-year decrease of 1.20% in July 2024 with the median home price of $395,000. Sales activity for apartments totalled 189 in July for year-to-date home sales of 1,255.

Home inventory & listings in Ottawa

listings increased by 17.10% year-over-year in July 2024 with 2,231 total new residential listings. While listings saw a substantial year-over-year increase, with 2,231 new residential listings, listings are still 6.90% below the 10-year average.

Months of inventory saw an increase to 2.8 months in July 2024 — up from 2.3 months of inventory from the prior year.

Ottawa home sales

There have been 8,349 total year-to-date sales in Ottawa — an increase of 5.50% year-over-year for the same period.

Ottawa housing market indicators

The sales-to-new listing ratio in Ottawa for July 2024 was 55.6 which indicates a balanced market — one in which buyer's and sellers have similar negotiating power.

The median days on market in Ottawa was 21.0 for July 2024.

Canada Housing Markets

See the housing markets in Canada broken down at a national, provincial and city level with the following reports

source: CREB; OREB

Ottawa Housing Market Report