Ottawa Real Estate Market Updates 2018
Main Housing Stats for Ottawa, May 01, 2018: OREB Members sold a total of 2032 Residential Properties in April 2018, versus 1788 in April 2017, up by 13.6%. 1616 sales were Residential Freehold Homes, up by 9.5% over last year and 416 were Condo Sales, up by 33.3% over May last year..
The Average Price for a Residential Freehold House in April 2018 was $455,212 up 4.2%, and the average price for a condominium was $269,294, up 0.3% from April 2017.
View all the current Homes for Sale, or all the Condos for Sale in all areas of Ottawa
Average Prices by Property Type
Below are the average prices for Different types of Freehold & Condominium class properties. (Numbers are year-to-date)
| Housing Type | Average Price |
% Change in Price |
| Bungalow | $419,420 | 8.2% |
| 1 1/2 storey | $306,709 | 6.8% |
| 2 storey | $464,686 | 6.4% |
| 3 storey | $541,541 | -0.1% |
| Split-Level | $402,747 | -3.6% |
| High-Ranch | $344,777 | 5.4% |
| Condo 2 Storey | $235,193 | -0.4% |
| Condo Apartment | $296,489 | 0.9% |
| 3 Storey Condo | $277,788 | 2% |
How long does it take to sell a Home in Ottawa?
Residential houses are taking 47 days to sell in 2018 so far and Condominiums are taking 58 days to sell. The days quoted are Cumulative Days on the Market (more accurate)
Inventory Levels, How many homes are for sale right now?
There were 4879 Residential Properties listed for sale at the end of April 2018. 3566 were Residential Freehold Listings and 1313 were condos.
Residential Freehold Inventory levels are down by 23.8% over last year, and Condominium Inventory is down by 23.4% over April last year. The graphic below shows you the inventory levels for each month in 2018 so far.
Is it a Buyer's or Seller's Market?
We are currently in a Sellers' Market here in Ottawa based on the inventory levels we see above. We really need more people to list their homes right now, they will get the best price in this type of Market
Historical Average Home Prices in Ottawa
Home Prices from 1956 - Present, (including Condos), plus % Change over Previous Year
| YEAR | AVGERAGE PRICE | PERCENT CHANGE |
| 1956 | $13,351 | 0.2 |
| 1957 | $14,230 | 6.6 |
| 1958 | $15,564 | 9.3 |
| 1959 | $16,038 | 3.1 |
| 1960 | $16,791 | 4.7 |
| 1961 | $16,070 | -4.3 |
| 1962 | $15,952 | -0.7 |
| 1963 | $16,549 | 3.7 |
| 1964 | $16,563 | 0.1 |
| 1965 | $17,056 | 3.0 |
| 1966 | $18,004 | 5.6 |
| 1967 | $19,476 | 8.2 |
| 1968 | $23,329 | 19.8 |
| 1969 | $25,652 | 10.0 |
| 1970 | $26,532 | 3.4 |
| 1971 | $27,808 | 4.8 |
| 1972 | $30,576 | 10.0 |
| 1973 | $38,305 | 25.3 |
| 1974 | $46,661 | 21.8 |
| 1975 | $49,633 | 6.4 |
| 1976 | $54,623 | 10.1 |
| 1977 | $57,032 | 4.4 |
| 1978 | $59,134 | 3.7 |
| 1979 | $61,896 | 4.7 |
| 1980 | $62,748 | 1.4 |
| 1981 | $64,896 | 3.4 |
| 1982 | $71,080 | 9.5 |
| 1983 | $86,245 | 21.3 |
| 1984 | $102,084 | 18.4 |
| 1985 | $107,306 | 5.1 |
| 1986 | $111,643 | 4.0 |
| 1987 | $119,612 | 7.1 |
| 1988 | $128,434 | 7.4 |
| 1989 | $137,455 | 7.0 |
| 1990 | $141,438 | 2.9 |
| 1991 | $143,361 | 1.4 |
| 1992 | $143,868 | 0.4 |
| 1993 | $148,129 | 3.0 |
| 1994 | $147,543 | -0.4 |
| 1995 | $143,193 | -2.9 |
| 1996 | $140,534 | -1.9 |
| 1997 | $143,873 | 2.4 |
| 1998 | $143,953 | 0.1 |
| 1999 | $149,650 | 4.0 |
| 2000 | $159,511 | 6.6 |
| 2001 | $175,971 | 10.3 |
| 2002 | $200,711 | 14.1 |
| 2003 | $218,692 | 9.0 |
| 2004 | $235,678 | 7.8 |
| 2005 | $244,532 | 3.8 |
| 2006 | $255,889 | 4.7 |
| 2007 | $272,618 | 6.4 |
| 2008 | $290,366 | 6.6 |
| 2009 | $303,888 | 4.9 |
| 2010 | $327,225 | 7.7 |
| 2011 | $343,284 | 4.9 |
| 2012 | $351,792 | 2.3 |
| 2013 | $357,348 | 1.6 |
| 2014 | $361,707 | 1.2 |
| 2015 | $367,632 | 1.7 |
| 2016 | $371,901 | 1.2 |
| 2017 | $392,474 | 5.4 |
Using the table above, Here's a quick example for you:
If, in 1993 you bought a house for around $150,000 and you put down 20%, or $30,000, and your amortization period was 20 years. Right now you'd have your mortgage paid off, and your house would be worth $360,000. That's not a bad return on your initial investment of $30,000. Try getting that sort of return from your bank !
The monthly payments on your mortgage would have been around $600 or $700...likely the same amount you'd be paying if you rented. Obviously, if you owned the home for 20 years, there were likely things that needed to be repaired or upgraded, maybe the furnace, or your roof etc....still, I think buying the house still got you a great return on your investment.
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More Real Estate MLS Statistics
Number of Sales - 5 Year Average
The graphic above shows you the number of home sales for last month and compares it to the last 5 years.
