GOHBA / PMA Brethour Ottawa New Home Sales Report
November new home sales top 400, a dramatic rise from year prior
December 18, 2024
OTTAWA, ON —
The Ottawa New Home Market Report for November 2024 highlights significant growth, with 424 new homes sold. This marks a strong increase from last year when 214 sales were reported in November. Month-over-month sales also increased, up from 383 in October 2024.
“November new home sales really support the argument that we’re in the upswing of a market rebound locally,” said Jason Burggraaf, Executive Director of the Greater Ottawa Home Builders’ Association. “The sustained sales growth is a very positive signal going into 2025.”
As year-end nears, year-to-date sales have reached 3,464, up roughly 43 per cent from the same period last year, when 2,436 new homes sold.
The 424 new homes sold in November represent a nearly 11 per cent increase compared to the prior month when sales were at 383.
Source: PMA Brethour Realty Group
November 2024 saw a total of 424 new home sales, a significant increase from 2022 and 2023, when sales totalled 50 and 214 respectively. This figure also tops the 415 new homes sold in 2020.
Source: PMA Brethour Realty Group
Year-to-date sales for 2024 stand at 3,464 new homes sold, trending up following a low of 2,436 in 2023.
Source: PMA Brethour Realty Group
WHERE IN OTTAWA DID HOMES SELL IN NOVEMBER?
The east end saw the highest reported sales for November at 46 per cent. This was followed by the south end of Ottawa with 29 per cent and the west end at 22 per cent, while central Ottawa rose slightly from one per cent to three per cent.
Source: PMA Brethour Realty Group
WHAT TYPES OF HOMES SOLD IN OTTAWA IN NOVEMBER?
Regarding product type, condo towns outsold townhomes in November. This is notable given that townhomes have led new home sales for most of the year. Figures show condo towns rose to 44 per cent, followed by townhomes at 35 per cent and single homes at 21 per cent, while condo apartments dropped to zero.
Source: PMA Brethour Realty Group
“November’s growth, particularly in the east and south ends, underscores the rising demand across the city,” Burggraaf added. “Condo towns are popular as they are coming in at an attractive price, and we’ve seen more of these types of homes pop up across Ottawa.”
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