Last month the Ottawa Real Estate Board sold 2,020 residential properties an increase of 8.5% over June 2022. 1,228 (+3.2%) were Single Family Homes, 508 (+17.3%) were Townhouses, and 266 (+22.6%) were Apartments.

We had 3,278 new properties listed for sale in June leaving the total number of residential properties for sale at 3,898 an increase of 14.4% from the end of June 2022. We currently have 1.9 Months of Inventory on the market.

The Median days for properties of all types to sell in June was 15, an increase of 5 days compared to June 2022, and 1 day longer than the previous month May 2023.

The average sales price for a Single Family Home was $711,711 down 1.5% from June 2022 while Townhouses sold for an average of $550,441 (-1.7%) and Apartments sold for an average of $450,872 (+ 5.1%).

The MLS® Home Price Index for all residential properties in Ottawa for June 2023 was $633,012, -2.0% from June 2022.

The First half of 2023 in Review

In Q1 & Q2 of 2023, there were 9,310 sales recorded by the Ottawa Real Estate Board, a decrease of 19.3% in the number of homes & condos sold vs the first half of 2022

The median days for all properties to sell was 17 an increase of 7 days from Q1 & Q2 of 2022.

Of these 9,310 sales, 5,667 (-19.0%) were Single Family Homes, 2,352 (-18.6%) were Townhouses, and 1,181(-21.8%) were Apartments.

The average sales price for a Single Family Home was $701,639 down 8.8% while Townhouses sold for an average of $543,049 (-11.0%) and Apartments sold for an average of $427,037 (-4.8%).

So far in 2023 we've had 14,884 properties listed for sale, a decline of 14.3% from 2022. With an average of 3,242 homes for sale per month, we sit at the end of June 2023 at 2.1 months of inventory, 1 month higher than June 2022.

See https://www.thetulipteam.com/stats/ to stay up to date on the Ottawa real estate market and see the 10 & 64-year history of house prices, condo prices, home & condo sales, and inventory of homes for sale in Ottawa.

***How the Ottawa Real Estate Board produces its monthly activities reports has been fundamentally changed to bring it in-line with the Canadian Real Estate Association's HPI Index. As such we now show statistics for Single Family Homes, Town-Homes, and Apartment style dwellings without breaking them apart into freehold or condo ownership.

Finding the right school for your children is an important decision for any family.

Tulip Team REALTORS® Kayla Meyer, Ryan Brown, Bryanne Rheault, Alex Wickham, and Reed Allen share some of the tips and tricks for choosing the right school zone for your family.

Ottawa is home to a wide range of schools, including public, Catholic and private options, each with its own unique features and programs.

Here are some tips for picking the right school in Ottawa;

Research The School District

Ottawa is divided into a number of school districts, each with its own schools and programs. It's important to research the school district that your home falls within and what schools are available in addition to public and Catholic school boards. Ottawa also offers French immersion Montessori and alternative schools.

Consider the school board

Ottawa has four main school boards the Ottawa Carleton District School Board, OCDSB., the Ottawa Catholic School Board of OCSB, the Conseil des écoles publiques de l’Est de l’Ontario (CEPEO), and the Conseil des écoles catholiques du Centre-Est (CECCE). Each board has its own philosophy and values, so it's important to consider which one aligns best with your own. You can find more information about each board on their respective website.

Look at the school ratings.

The Fraser Institute is an independent research organization that ranks schools based on their academic performance. And you can use their rankings to compare schools in your area and see how they stack up against each other.

So check out their website for more information.

Tour the school

Tt's always a good idea to visit the school in person and see what it's like. You can talk to the staff and the students, see the facilities and get a feel for the school culture.

Be sure to call and book a tour with the staff to be able to get your private tour. Some schools may also offer virtual tours.

Consider your child's needs.

Every child is different, so it's important to consider their individual needs when picking a school. If your child has learning challenges or specialized interests, you may want to look for a school with programs and support to meet those needs. For example, some schools in Ottawa offer specialized training programs for students with learning disabilities or for those interested in the arts, music or sports.

It's also important to consider the cost of private schools in Ottawa and the financial assistance available to families. While private school can be expensive, some offer financial aid or scholarships to help offset those costs.

Finally, when planning ahead, it's important to note that admission processes and timelines vary for each school, board and school. So be sure to do your research and plan accordingly.

After picking the right school, it's important to find a home in the right neighborhood.

The Tulip Team at RE/MAX can help you find the perfect home in the perfect neighborhood to suit your needs.

Browse our website for our listings and our search tool, or contact us today to learn more.

Last month the Ottawa Real Estate Board sold 2,333 residential properties an increase of 4.1% over May 2022. 1,459 (+3.8%) were Single Family Homes, 554 (+3.0%) were Townhouses, and 295 (+6.5%) were Apartments.

We had 3,410 new properties listed for sale in May leaving the total number of residential properties for sale at 3,555 an increase of 39.2% from the end of May 2022.  We currently have 1.5 Months of Inventory on the market.

The Median days for properties of all types to sell in May was 14, an increase of 6 days compared to May 2022, and 2 days shorter than the previous month April 2023.

The average sales price for a Single Family Home was $716,663 down 5.3% from May 2022 while Townhouses sold for an average of $549,583 (-6.2%) and Apartments sold for an average of $435,742 (-6.3%).

The MLS® Home Price Index for all residential properties in Ottawa for May 2023 was $645,400, +1.9% from April 2023, +5.6% vs February 2023, and -9.0% from May 2022

***How the Ottawa Real Estate Board produces its monthly activities reports has been fundamentally changed to bring it in-line with the Canadian Real Estate Association's HPI Index.  As such we now show statistics for Single Family Homes, Town-Homes, and Apartment style dwellings without breaking them apart into freehold or condo ownership.

Last month in April 2023 members of the Ottawa Real Estate Board sold 1,488 residential properties a decrease of 20.7% compared to the height of the market in April 2022.

We had 2,144 new properties listed for sale in April leaving the total number of residential properties for sale at 2,760 an increase of 61.7% from the end of April 2022.

We currently have 1.9 Month Of Inventory on the market and a new listing sales rate of 69.4%. These indicate a slide back into sellers market condition in Ottawa.

It took an average of 42 days for properties of all types to sell in April, which is 30 days longer than April 2022 and 10 days fewer than March 2023.

Of these 1,488 sales, 1,156 were freehold houses (-17.9%), and 332 were condominiums (-29.1%).

The average sales price for a freehold house sold in April 2023, was $747,123 showing a decrease of 9.7% from April 2022. While condominium average prices showed a decrease of 8.1% from last year to $435,875.

Since December 2022 we've seen an increase of the average price of all properties sold in a month grow by 13.9% to $677,678.