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Ottawa home sales ticked up slightly in December compared with a year earlier but were still well below the five-year average as higher mortgage rates
The Ottawa Real Estate Board says 11,978 homes and condominiums were sold in Ottawa in 2023, down 11 per cent from 2022. The average price of homes sold in Ottawa in 2023 was $667,794, down 5.5 per cent from 2022.
As the Bank of Canada prepares to make another interest rate announcement Wednesday, homebuyers, sellers and industry watchers alike are keeping a wary eye on Ottawa's "hesitant" real estate market.
Ottawa home sales fell last month compared with the previous year as buyers continued to take a wait-and-see approach amid rising mortgage rates.
The Ottawa Real Estate Board says the October home sales numbers show a typical lull for this time of year, but active listings are at a five-year high.