Ottawa's real estate market sees 'steady activity' to kick off summer

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Ottawa home prices dropped slightly in June as the real estate market continued to see 'steady activity' heading into the summer, according to the Ottawa Real Estate Board. The average sale price for all homes and condominiums in Ottawa was $647,000 in June, down 0.5 per cent from June 2023.

A new home is displayed for sale in a housing development in Ottawa on Tuesday, July 14, 2020. Ottawa home prices dropped slightly in June as the real estate market continued to see "steady activity" heading into the summer, according to the Ottawa Real Estate Board.

A total of 1,439 homes were sold in Ottawa last month, up 0.1 per cent from June 2023. Home sales were 7.5 per cent below the five-year average in June. The Bank of Canada announced in June a cut in its overnight rate to 4.75 per cent from 5 p.m. The next scheduled rate announcement is July 24. The Ottawa Real Estate Board says there were 2,469 new listings in June 2024, up 4.7 per cent from 2023. At the end of June, there were 3,585 active listings in Ottawa.

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