Ottawa sales constrained by low supply

The continued low inventory of homes available to buy in the Ottawa region remains a drag on potential sales.

The Ottawa Real Estate Board’s members sold 712 residential properties through the MLS in January, up 7.2% from a year earlier and above the five-year January average of 638.

But board president Rick Eisart says that the choice of homes available for potential buyers remains weak.

“While January is typically the month we see the lowest number of listings come onto the market, the numbers for this month are very low,” he said. “The five-year average for new listings in January is 1,396 for residential and 500 for condominiums. January 2018’s listings were at 994 and 406 respectively.”

He added that this was a factor in the markets through 2017 with constrained sales putting upward pressure on prices.

The average sale price of a residential-class property sold in January in the Ottawa area was $427,487, an increase of 8.8% year-over-year while for a condominium-class property it was $263,744, a decrease of 8.6%.

There was a 45% jump in condo sales in January while single-family home sales dropped 1.1%.

“For homeowners thinking of selling, this is a good time to get your property on the market before spring,” Eisert said. “Since inventory is currently low, sellers will certainly get attention because selection for buyers in some areas, in particular, is quite limited.”

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release


Do you invest in commercial properties?