Consumer Confidence Cautiously on the Rise in Ottawa Resale Market

The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 1,179 units in October 2024 — an increase over the 1,047 units sold last month.

Home sales were 3.9% below the five-year average and 0.9% below the 10-year average for the month of October.

On a year-to-date basis, home sales totaled 11,662 units in October 2024 — an increase of 9.4% from the same period in 2023.

“We’re seeing positive movement in Ottawa’s market with sales activity up,” says OREB President Curtis Fillier. “This is especially interesting because there has been sustained activity throughout the year instead of the typical seasonal spikes and lulls. Consumer confidence is getting stronger, boosted by another consecutive Bank of Canada interest rate cut — though many are waiting for additional rate drops.”

The 50-basis-point reduction might offer optimism following Ontario’s tabling of the Fall Economic Statement where housing starts projections were scaled back to 81,300, representing another reduction in projections and is even further from the province’s goal of creating 125,000 new homes in 2024. The Ontario government cites high interest rates and a tough economic environment as pervasive challenges for homebuilders.

“The challenge remains supply,” says Fillier. “We know from experience that Ottawa’s inventory leans tight and can swing quickly from balanced territory to a seller’s market — which can compound affordability and accessibility challenges. Now is always the time for fresh action and innovative policies that can create much-needed inventory.”

OREB leaders and volunteers recently joined the Canadian Real Estate Association on Parliament Hill to present focused solutions to confront the ongoing housing supply crisis. With expertise and experience in market conditions and consumer needs, REALTORS® advocated to stimulate supply by investing in offsite construction technologies (i.e. prefabricated homes) and extending HST/GST relief for non-profit-built affordable ownership housing.

By the Numbers – Prices: 

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. 

• The overall MLS® HPI composite benchmark price was $639,500 in October 2024, an increase of 0.4% from October 2023.

• The overall MLS® HPI composite benchmark price was $639,500 in October 2024, an increase of 0.4% from October 2023.

  • The benchmark price for single-family homes was $724,500, up 0.7% on a year-over-year basis in October.

  • By comparison, the benchmark price for a townhouse/row unit was $506,900, up 1.6% compared to a year earlier. 

  • The benchmark apartment price was $407,500, down 3.4% from last year.

• The average price of homes sold in October 2024 was $668,690 increasing 1.2% from October 2023. The more comprehensive year-to-date average price was $678,081, increasing by 0.9% from October 2023.  

• The dollar volume of all home sales in October 2024 was $788.3 million, up 47.7% from October 2023.

OREB cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Prices will vary from neighbourhood to neighbourhood.  

By the Numbers – Inventory & New Listings 

• The number of new listings saw an increase of 10.4% from October 2023. There were 2,089 new residential listings in October 2024. New listings were 6.7% above the five-year average and 17% above the 10-year average for the month of October.

• Active residential listings numbered 3,354 units on the market at the end of October 2024, a gain of 8.9% from October 2023. Active listings were 40.6% above the five-year average and 6.7% above the 10-year average for the month of October.

• Months of inventory numbered 2.8 at the end of October 2024, compared to 3.8 in October 2023. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

  (SOURCE: OREB)

消费者信心在渥太华转售市场中谨慎回升

2024年10月，通过渥太华房地产委员会（OREB）MLS®系统销售的房屋总数达1,179套，高于上个月的1,047套。

尽管如此，10月的房屋销售量仍低于五年平均水平3.9%，低于十年平均水平0.9%。

截至2024年10月的年度累计销售量达到11,662套，比2023年同期增长9.4%。

“渥太华的市场呈现积极变化，销售活动有所增加。”OREB主席Curtis Fillier表示。“特别有趣的是，今年的市场活动一直维持稳定，而不是典型的季节性波动。消费者信心在逐步增强，尤其是在加拿大央行连续降息的背景下，尽管许多人仍在等待进一步的降息。”

50个基点的降息或许带来了一些乐观情绪，尤其是在安大略省发布秋季经济声明后，该声明将新建住房目标下调至81,300套，再次降低了预期，远低于省政府2024年建设125,000套新住房的目标。安省政府指出，高利率和艰难的经济环境给房屋建设者带来了持续挑战。

“供应问题依然存在。”Fillier说道，“渥太华的库存通常较紧张，并且很容易从平衡市场转向卖方市场，这可能会加剧可负担性和可及性问题。当前的形势呼吁新的行动和创新政策，以增加急需的库存。”

最近，OREB的领导层和志愿者前往国会山，与加拿大房地产协会（CREA）一同提出解决持续住房供应危机的具体方案。凭借对市场状况和消费者需求的丰富经验，房地产经纪人们提议通过投资外部建设技术（如预制房屋）和为非营利性建造的可负担房屋提供HST/GST减免，来促进住房供应。

价格数据一览：

MLS®房价指数（HPI）相比平均或中位数价格衡量更为准确，能更好地跟踪价格趋势。

• 2024年10月的MLS® HPI综合基准价格为639,500加元，比2023年10月增长了0.4%。

• 单户住宅的基准价格为724,500加元，同比上涨0.7%。

• 相比之下，联排/排屋单位的基准价格为506,900加元，同比增长1.6%。

• 公寓基准价格为407,500加元，同比下降3.4%。

• 2024年10月的平均房屋销售价格为668,690加元，同比上升1.2%。年度累计的平均价格为678,081加元，同比上升0.9%。

• 2024年10月所有房屋销售的总金额为7.883亿加元，比2023年10月增长了47.7%。

OREB提醒，平均销售价格可用于长期趋势分析，但不应作为具体房产增值或贬值的指标。平均销售价格的计算基于所有售出房产的总金额，不同社区的价格会有所不同。

库存及新上市房源数据一览：

2024年10月的新上市房源数量较2023年10月增加了10.4%，共有2,089套新的住宅房源。新上市房源比五年平均水平高6.7%，比十年平均水平高出17%。

截至2024年10月底，活跃住宅房源总数为3,354套，比2023年10月增长了8.9%。活跃房源数量比五年平均水平高出40.6%，比十年平均水平高出6.7%。

截至2024年10月底，市场库存为2.8个月，而2023年10月为3.8个月。库存月数指的是以当前销售速度售完所有库存所需的时间。
（数据来源：渥太华地产局OREB)