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Shamil Jessa

Ottawa Resale Market Heating up a bit in January

Hey there, real estate enthusiasts! Let's dive into the exciting world of home prices in January 2024. Drumroll, please! 🥁

But first, if you are only interested in the visuals, scroll down for the graphics...

So, picture this: the MLS® HPI composite benchmark price, our trusty guide in the realm of real estate, proudly stood at $621,600, showing off a spunky 3.2% increase from its January 2023 counterpart.

Single-family homes, came in with a benchmark price of $703,500, boasting a 3.7% hike from the previous year.

Townhouse/row unit prices dipped down 2.1% to $462,200.

The benchmark apartment style had a 3.7% boost to $418,500.

Now, onto the juicy details: the average price of homes was $631,722, marking a cute 1.8% increase from January 2023. And guess what? The dollar volume of all home sales hit a whopping $397.3 million, showing off an impressive 18.6% jump from January 2023.

As always, OREB kindly reminds us not to read too much into the average sale price alone. Remember, real estate is a wild ride with prices varying from neighbourhood to neighbourhood. So, let's keep exploring and see where the adventure takes us! 🏡✨


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