Latest news with #PaulCzan
CTV News
08-08-2025
- Business
- CTV News
Ottawa sees modest year-over-year increase in homes sold in first 7 months of 2025
The Ottawa real estate market has seen modest year-over-year growth in the first seven months of the year, according to the Ottawa Real Estate Board. New figures for July show 1,318 homes were sold in the capital last month, a 4.9 per cent increase over July 2024. To date, the real estate board says home sales in the first seven months of the year are up 3.1 per cent over the same time last year. 'Ottawa's housing market continues to demonstrate steady demand, moderate price growth, and a healthy level of supply—even as other markets experience increased volatility,' the board said in a news release. The average sale price for all sold listings in July was $695,209, up 2.2 per cent from last year. Prices for single-family homes and townhouses rose in July, but apartment prices dipped slightly. The overall MLS Home Price Index (HPI) composite benchmark price, which represents the typical home in Ottawa, was $633,100 in July, a 1.9 per cent increase year-over-year. The average single-family home cost $704,800, up two per cent; the average townhouse cost $468,000, up 8.3 per cent; and the average apartment cost $411,900, down 1.6 per cent. 'While we've seen demand may be softening in the condo market, especially in the downtown core, as a whole, Ottawa's real estate market continues to stand out for its resilience and stability,' said Ottawa Real Estate Board President Paul Czan in a statement. 'With steady demand, balanced inventory, and moderate price growth, our fundamentals remain strong. We're keeping a close eye on changing dynamics, and we'll continue monitoring the data and providing transparent insights to help our members and the public navigate with confidence.' Ottawa saw 2,549 new residential listings in July, up 11.7 per cent year-over-year. There were 4,205 active listings on the market last month, which the Ottawa Real Estate Board says is 23.6 per cent higher than the five-year average for this time of year.
CTV News
08-07-2025
- Business
- CTV News
Ottawa's real estate market experiences ‘busiest June we've seen in quite some time'
A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, CANADIAN PRESS/Sean Kilpatrick The average sale price for homes in Ottawa increased five per cent in June, as the real estate market heated up into the summer. The Ottawa Real Estate Board says 1,602 homes and condominiums were sold in Ottawa in June, up 1,439 properties sold in June 2024. The number of homes sold last month was down from the 1,807 properties sold in May 2025. 'This was the busiest June we've seen in quite some time, with sales up 10.6 per cent and new listings rising nearly 14 per cent year over year, signifying we did, in fact, experience a delayed spring market,' Paul Czan, president of the Ottawa Real Estate Board, said in a statement. 'We're seeing more inventory hit the market, giving buyers more choice. With the changing market conditions, sellers need to be future-focused—pricing thoughtfully and preparing their homes to be one of the top picks in their area.' The average sale price of a home sold in Ottawa in June was $723,152, up 5.2 per cent from June 2024. The overall MLS HPI composite benchmark price, representing the typical home in Ottawa, was $634,300 in June, up 1.5 per cent from a year before. According to the Ottawa Real Estate Board, 2,933 new residential properties were added to the market in June 2025, up 6.6 per cent from the year ago. As of the end of June, 4,350 units were listed on real estate websites. 'Apartments are one segment that continues to feel the strain, with sales down about 20 per cent across Ottawa and inventory building,' Czan said. 'There is a variety of compounding factors in play here, including an increase in new construction, elevated financing costs and rising strata fees reducing affordability—especially for first-time buyers, but also, we're seeing neighbourhood-specific factors impacting demand." The Ottawa Real Estate Board says Ottawa's real estate market 'remains a stable market.' 'We're getting back to familiar seasonal trends—where summer activity will pick up for families looking for a home prior to the school year, and with students returning to the city—a stronger fall is likely ahead.' According to Redfin, two homes in Ottawa sold for more than $3.4 million in June. A six-bedroom home in Manotick sold for $3.425 million, while a six bedroom, eight-bathroom home on Rothwell Drive in Beacon Hill sold for $3.470 million.
CTV News
09-06-2025
- Business
- CTV News
Ottawa home prices jump 5 per cent in May, statistics show
A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick Ottawa's real estate market heated up in May, as home sales increased 15 per cent and the price of homes sold jumped nearly five per cent. The Ottawa Real Estate Board says 1,807 homes and condominiums were sold in Ottawa last month, up from 1,306 homes in April 2025 and 1,545 homes in May 2024. 'Year-to-date home sales activity remains in line with 2024; however, the 33.1 per cent surge over April 2025 suggests we're experiencing a delayed spring market,' Paul Czan, president of the Ottawa Real Estate Board, said in a statement. 'April's federal election took up real estate in consumers' minds. Now, we're seeing a shift in the marketplace, with active listings on the rise and months of inventory holding steady. Buyers appear to be gaining confidence, re-entering the market and transacting. For sellers, however, rising inventory means that competitive pricing and strong presentation are more critical than ever.' According to the Ottawa Real Estate Board, the average price of homes sold in May was $728,623. The overall MLS HPI composite benchmark price for all properties in Ottawa was $629,800 in May 2025, up 0.8 per cent from May 2024. According to the Ottawa Real Estate Board, the benchmark price for a townhouse/row unit was $446,900 and the benchmark price for a condominium was $404,700 (down 3.6 per cent from the year before). A total of 3,430 new residential properties were added to the for-sale market in May, up 8.7 per cent from May 2024. There were 4,347 active listings on Ottawa's real estate market at the end of May. Multi-million-dollar homes According to Redfin, six properties sold for more than $2.8 million in Ottawa in May, including a dairy farm on Sarsfield Road for $4.6 million. A four-bedroom, four-bathroom home in Manotick sold for $3.2 million and a five-bedroom home in Manotick sold for $3.175 million. A five-bedroom, five-bathroom home in the Glebe sold for $3.1 million. According to the real estate website, a home sold for $2.9 million in the Carlingwood-Westboro area and a four-bedroom home in Manotick sold for $2.855 million.
