🇨🇦 Ottawa's real estate market experienced a typical seasonal slowdown in October 2023, with 816 home sales, a 2.7% decrease from the previous year.
📈 Despite the slowdown, the average home price in October 2023 increased to $660,836, a 2.9% rise from the previous year.
🏡 New residential listings saw a notable 6.6% increase, totalling 1,895, while active listings rose by 16.7% to 3,062 units, suggesting a growing inventory in the market.
🏘️ The number of months of inventory slightly increased to 3.8, indicating the time it would take to sell current inventories at the existing sales rate, providing insights into market stability.
❗Don't wait❗Find your dream home now before prices rise and demand surges with cooling interest rates. Contact us for expert guidance and maximize your chances of securing the perfect home at a great price.
For more information on October statistics visit: https://www.oreb.ca/newsroom/ottawa-mls-october-home-sales-show-typical-lull/