GOHBA / PMA Brethour Ottawa New Home Sales Report
New home sales climb in Ottawa: 54 per cent growth from 2023
October 17, 2024
OTTAWA —The latest data from the Ottawa New Home Market Report reveals that 320 new homes were sold in September 2024, marking a 54 per cent increase compared to the same month last year. This also represents a 40 per cent jump from August, when 228 homes were sold.
“The strong sales growth in September speaks to the demand for new homes despite broader economic challenges,” said Jason Burggraaf, Executive Director of the Greater Ottawa Home Builders' Association. “Buyers are tired of being on the sidelines, and are clearly recognizing opportunity in the current market.”
Year-to-date sales now total 2,656, a notable rise from 1,943 in the same period last year, indicating that the market is continuing to recover.
Newly released data reveals 320 new homes were sold in September 2024 an increase from the 228 sold in August.
Source: PMA Brethour Realty Group
Annual sales for September show a market in recovery. While the 320 homes sold this September are still below the high of 726 sold in 2020, the numbers have steadily rebounded from a low of 88 sales in 2022.
Source: PMA Brethour Realty Group
Year-to-date home sales for 2024 are steadily increasing, with 2,656 new homes sold so far — a notable rise from the same period in 2023.
Source: PMA Brethour Realty Group
WHERE IN OTTAWA DID HOMES SELL IN SEPTEMBER?
Once again, the south end of Ottawa led in new home sales, rising further to 48 per cent of the total, followed by the west end at 35 per cent, while the east end dropped to 16 per cent and central Ottawa remained unchanged at two per cent.
Source: PMA Brethour Realty Group
WHAT TYPES OF HOMES SOLD IN OTTAWA IN SEPTEMBER?
In terms of product type, townhomes saw a rise to 57 per cent, followed by a slight rise in single homes at 30 per cent. Condo towns represent 11 per cent of sales, while condo apartments dropped to three per cent.
Source: PMA Brethour Realty Group
“The steady rise in new home sales throughout 2024 is a testament to the resilience of the Ottawa market,” said Burggraaf. “As buyers continue to get back into the market, we anticipate a robust close to the year, setting a positive tone for 2025.”
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