What Are Buyers Purchasing In Ottawa That Sellers Need To Know....
As shown below, most of the property types in the residential market sold more quickly than properties in the condo market from April to May 2024. This means affordability remains a key factor for buyers, coupled with their various personal tastes and living preferences that meet their life goals and priorities. Therefore, sellers need to be detail-oriented in presenting and pricing their properties to reflect the buyer's budget and personal preferences, which reflect current market conditions.
Depending on where you live or invest or where you would like to live or invest, it is important to monitor the median number of days it takes for properties to sell to inform you when it is the right time for you to buy or sell to gain value for your pocketbook.
If you need to know how many median days it took for a specific property type you currently live in or would like to buy in a particular neighbourhood, feel free to contact me, and I will share it with you at no cost.
RESIDENTIAL*
| Property Type |
Median Number of Days To Sell: April 2024 |
Median Number of Days To Sell: May 2024 |
| 1 1/2-Storey Detached | 17 | 19 |
| 2-Storey Detached | 15 | 16 |
| Bungalow | 18 | 20 |
| Hi-Ranch | 14 | 21 |
| Split-Level | 17 | 15 |
| Semi-Detached | 15 | 14 |
| 2-Storey Townhome | 13 | 14 |
| 3-Storey Townhome | 14 | 17 |
CONDOS*
| Property Type |
Median Number of Days To Sell: April 2024 |
Median Number of Days To Sell: May 2024 |
| 1-Level Condo Apartment | 21 | 20 |
| 2-Storey Condo Townhome | 21 | 16 |
| Stacked Condo Townhome | 24 | 21 |
*Source: Ottawa Real Estate Board, June 2024
