GOHBA / PMA Brethour Ottawa New Home Sales Report
December new home sales year-over-year improved, but 2023 overall down from year prior
January 17, 2024
OTTAWA – New data shows 140 new homes were sold in the nation’s capital in December, more than doubling a low of just 62 in 2022, but the year ends far from where numbers need to be to reach Ottawa’s housing targets.
In total, 2023 saw 2,571 new home sales, down 7.4 per cent compared to 2022, when sales were 2,776, and less than half than what was reported five years ago – 6,315 in 2019.
"As we reflect on the past year, the uptick in new home sales in December is a positive sign; however, it’s evident that concerted efforts are needed to address the complex factors impacting new home supply,” said Jason Burggraaf, Executive Director of the Greater Ottawa Home Builders’ Association.
Newly released data shows 140 new home sales were reported in December 2023, a drop of nearly 33 per cent from the month prior.
Source: PMA Brethour Realty Group
Looking at the five-year average for December, the data shows a trend of new home sales traditionally on the lower end. Still, 2023 figures were less than half of what was reported in 2021, when sales reached 393.
Source: PMA Brethour Realty Group
Exploring the year to date, 2023 ends with 2,571 new home sales reported, the lowest figure provided in the last five years.
Source: PMA Brethour Realty Group
WHERE IN OTTAWA DID HOMES SELL IN DECEMBER?
More than half of the new home sales — 54 per cent — for December 2023 took place in Ottawa’s south end. This was followed by the west end with 34 per cent, the east end with 10 per cent, and central Ottawa with one per cent (rounded percentages).
Source: PMA Brethour Realty Group
WHAT TYPE OF HOMES SOLD IN OTTAWA IN DECEMBER?
In terms of product type, the majority of new home sales were for townhomes at 47 per cent, down slightly from 54 per cent in November.
Source: PMA Brethour Realty Group
“The data shows 2023 was a challenging year for the Ottawa new home market,” Burggraaf added. “It is clear we need all levels of government to work with new home builders to stimulate new construction in the face of tough economic conditions for both builders and home buyers.”
MEDIA CONTACT
For additional questions, or to set up an interview on new home statistics, please contact:
Megan Shaw
ABOUT THE GREATER OTTAWA HOME BUILDERS’ ASSOCIATION:
The Greater Ottawa Home Builders’ Association has been the proud voice for excellence in the home-building community since 1951, and represents over 415 companies in new home construction and professional renovation. Our industry accounts for 37,000 jobs across Ottawa, with $2.5 billion in wages and $5.0 billion in economic investment. Contact Jason Burggraaf, Executive Director, at jason@gohba.ca.
ABOUT PMA BRETHOUR REALTY GROUP
PMA Brethour Realty Group provides specialized services to the building and development industry across Canada, including a full range of sales, marketing, and research services for new homes, resorts, condominiums, and retirement communities on behalf of their builder/developer clients. In partnership with GOHBA, PMA Brethour publishes the Greater Ottawa New Home Market Report, offering the most current, accurate, and reliable market data available on Ottawa’s local housing market. Contact Cheryl Rice, President, at cherylr@pmabrethour.com