Ottawa Real Estate Market Updates 2019
Main Housing Stats for Ottawa, Nov. 05, 2019: OREB Members sold a total of 1140 Residential Properties in October 2019, up by 14%. (includes freehold and Condos). 775 were freehold house sales, up by 11% and 365 were condo sales, up by 22%.
The average price for all residential homes, which includes houses and condos was $471,000, an increase of almost 8% over October 2018.
- Average Freehold House Price in Ottawa is $487,438, an increase of 8.3%
- Average condominium price in Ottawa now $329,373, an increase of 20%
Movie Timeline:
0:00 - 0:30 Intro
0:30 - 2:00 Ottawa Market Update
2:00 - 3:03 Orleans Market Update
3:02 - 4:06 Barrhaven Real Estate Update
4:06 - 5:07 Kanata's Market Update
5:07 - 5:24 Summary
For the Ottawa statistics we are not including the surrounding outskirts and small towns.
Average Sold House Prices for 2019
Average house price in Ottawa by month, compared with the same month last year
| Month | Average Price | % Change over 2018 |
| January 2019 | $394,893 | Up 2.2% |
| February 2019 | $422,000 | Up 8.5% |
| March 2019 | $420,000 | Up 5.2% |
| April 2019 | $449,700 | Up 7.9% |
| May 2019 | $449,000 | Up 5.6% |
| June 2019 | $456,000 | Up 9% |
| July 2019 | $487,000 | Up10% |
| August 2019 | $485,000 | Up 12% |
| September 2019 | $437,318 | Up 7% |
| October 2019 | $442,944 | Up 1.2% |
| November 2019 |
Average SOLD Home Prices by Property Type
Below are the average prices for Different types of Freehold & Condominium class properties last month
| Housing Type | Average Price |
% Change in Price |
| Bungalow | $442,170 | 14.1% |
| 1 1/2 storey | $351,607 | -4.4% |
| 2 storey | $511,099 | 8.7% |
| 3 storey | $620,477 | -0.7% |
| Split-Level | $480,946 | 15% |
| High-Ranch | $377,704 | 5.8% |
| Condo 2 Storey | $293,104 | 20.4% |
| Condo Apartment | $332,653 | 15.4% |
| 3 Storey Condo | $336,467 | 37% |
How long does it take to sell a Home in Ottawa?
Last month Residential houses took 31 days to sell versus 45 in 2018 and Condominiums are taking 36 days to sell versus 58 days last year. The days quoted are Cumulative Days on the Market (more accurate)
Inventory Levels, How many homes are for sale right now?
There were 2935 Residential Properties listed for sale at the end of last month. 2408 were Residential Freehold Listings, down 22.3% and 527 listings were condos, down by 38.8% over same month last year.
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
How much is Your Ottawa Home Worth?
Historical Average SOLD Home Prices in Ottawa
Sold Home Prices from 1956 - Present, (including Condos), plus % Change over Previous Year
| YEAR | AVERAGE 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 |
| 2018 | $407,571 | 3.9 |
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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