Ottawa Multifamily Real Estate Market Update, July 2024

Ottawa's Multi-Unit Residential Market, Year-To-Date, August 1, 2024: There have been 99 sales of Income Properties in Ottawa. 87 sales were smaller buildings, up 38.1% over July, 2023 and 12 sales were larger buildings with 5 or more units, up 20% over last year.

CHAPTERS
00:00 Introduction
00:23 Duplex, Triplex and Fourplex Stats
00:39 Average Price for smaller building
00:52 Time to sell a small building
01:04 Commercial Building Updates
01:16 Average Price commercial building
01:26 Time to sell a larger building

The average price for a smaller income property in Ottawa is now $981,938 up 3.6%, these include Double, Duplex, Triplex and Fourplex buildings.

The average price for a larger multi-unit building is now $2,118,708 up 35.2% over last year. These include buildings with 5 or more apartments in them.

How long are Income Properties taking to Sell?
Smaller Duplex, Triplex and Fourplex properties are taking 103 days to sell in 2024 versus 67 last year. Larger buildings with 5 or more units are taking 148 days to sell, versus 116 days last year. We are reporting cumulative days on market which is more accurate.

How Much did Sellers receive as a % of their list price?
Smaller buildings with 2-4 units achieved 95% of their list price and Larger buildings are selling for 96% of their list price.

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