Ottawa home sales improve despite July dip

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Ontario Construction News staff writer

Recent statistics released by the Greater Ottawa Home Builders’ Association (GOHBA) show that home sales in July declined slightly compared to June, but when compared to 2023, sales are up significantly.

“While July saw a typical summer slowdown, the overall upward trend in new home sales reflects a positive market outlook,” GOHBA executive director Jason Burggraaf said in a statement last Thursday (Aug. 15). “The increase in year-to-date sales compared to last year underscores the resilience of Ottawa’s housing market and suggests continued strong performance in the months ahead.”

According to the report, 254 homes were sold in July, which is a decrease of 23.5% from June but 34.9% higher than July 2023.

“The July sales figures reflect ongoing market recovery and growing consumer confidence,” Burggraaf said. “Despite the slight dip from June, the year-over-year increase is a promising sign of sustained demand for new homes in Ottawa.”

The report says that this year’s sales are outpacing last year’s sales. With 2,114 total sales between January and July 2024, compared to 1,567 sales during the same period in 2023, the sales are up 34.9%.

Looking at the location of the sales, the south end of Ottawa led the way with 46% of sales followed by the west end at 31%. The east end sold 22% of homes and Central Ottawa had no home sales in July.

In terms of what types of homes were sold, townhouses made up 59% of sales, followed by single houses at 31%. Condo town sales dropped slightly to 10%, while condo apartments fell to zero.

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