July 2023 Real Estate Stats – Find Your Perfect Home in Ottawa’s Heart!

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1687774268 Ottawa Real Estate Market Snapshot May 2023 Find Your

July 2023 Real Estate Stats – Find Your Perfect Home in Ottawa’s Heart!

Here are the July 2023 numbers:

  • Total number of units sold: 1,263 – up 15% from 1,102 in July 2022.

  • Five-year average unit sales for July: 1,621.

“Both transactions and average prices are up from last July, indicating consumers remain confident in the market notwithstanding the two recent quarter-percent interest rate hikes by the Bank of Canada. We’re only a month into the third quarter, but based on July’s positive indicators, we are likely to see solid year-over-year results in the second half,” says Ottawa Real Estate Board President Ken Dekker.

Here are the specifics for each property class:

  • Number of residential-class properties sold: 979 – up 18% from in July 2022.

  • Average sale price of a residential-class property: $754,188 – up 5% in July 2022.

  • Number of condominium-class properties sold: 284 – up 6% from  in July 2021.

  • Average sale price of a condominium-class property: $435,094  – up 2% in July 2021.

“July’s average prices are showing positive gains over last year, and year-to-date numbers, as expected, are still closing the gap from the peak pandemic market activity of early 2022. Additionally, inventory continues to climb steadily as new listings are added to the housing stock, creating more options for homebuyers. August may be a slower month in Ottawa, but I wouldn’t take a vacation from shopping for your home.”



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July 2023 Real Estate Stats – Real estate sales in Ottawa

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