GOHBA / PMA Brethour Ottawa New Home Sales Report
New figures show four-year high for newly built homes sold in June
July 16, 2024
OTTAWA –The latest data from the Ottawa New Home Market Report shows a positive increase in new home sales for June. A total of 332 new homes were sold last month, marking the highest number recorded for June in the past four years (2021-2024). However, this figure represents a slight drop from the month prior, when 361 new homes were sold in May.
“June sales figures reflect an improving market and growing consumer confidence,” said Jason Burggraaf, Executive Director of the Greater Ottawa Home Builders' Association. “Despite the slight dip from May, the year-over-year increase is a promising sign of sustained demand for new homes in Ottawa.”
Newly released data shows that 332 new homes were sold in June 2024, a decrease of 8.7 per cent from the 361 new homes sold in May of this year.
Source: PMA Brethour Realty Group
Looking at the monthly five-year average for June, figures for 2024 are on the rise at 332. This is still well below the high of 2020 when 625 new homes were sold.
Source: PMA Brethour Realty Group
As for year-to-date figures, while climbing, 2024 sales are still below highs reported from 2020-2022. However, sales are recovering from just 1,366 in 2023.
Source: PMA Brethour Realty Group
WHERE IN OTTAWA DID HOMES SELL IN JUNE?
Once again, the south end of Ottawa led in new home sales, accounting for 49 per cent of the total, followed by the west end, which rose to 33 per cent, the east end at 17 per cent, and central Ottawa with one per cent.
Source: PMA Brethour Realty Group
WHAT TYPES OF HOMES SOLD IN OTTAWA IN JUNE?
In terms of product type, townhomes represent more than half of new home sales at 59 per cent, followed by single homes at 31 per cent. Condo town sales dropped slightly to 10 per cent, while condo apartments fell to zero.
Source: PMA Brethour Realty Group
“The recent trends highlight some resilience in the new home market in Ottawa," Burggraaf added. "As we continue to navigate economic fluctuations, the consistent demand for new homes is a positive sign for the strength and stability of our housing market.”
MEDIA CONTACT
For additional questions, or to set up an interview on new home statistics, please contact:
Jason Burggraaf
Executive Director
Greater Ottawa Home Builders’ Association
jason@gohba.ca
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