Market Update August 2024
The latest statistics are in for Ottawa and Lanark County, and it’s shaping up to be an interesting year for real estate!
In Ottawa, the number of houses sold has risen, with 3,810 homes sold YTD in 2024, compared to 3,490 in 2023, representing a 3.15% increase. There was also a growth with the average sold price with $784,910 this year, from $760,904 in 2023.
However, homes are staying on the market longer, with the CDOM increasing from 34 days in 2023 to 48 days in 2024.
Over in Lanark County, the market has experienced a slight increase in activity as well. There have been 826 homes sold in 2024 YTD, compared to 815 in 2023, reflecting a rise of 1.37%. The average sold price is now $612,986, up from $604,689 last year.
Similar to Ottawa, homes in Lanark are also taking longer to sell, with the CDOM increasing from 56 in 2023 to 64 this year.
As the summer winds down, we expect activity to pick up again, sometime in mid-September. Keep an eye on the market, as trends can shift quickly!
Statistics Graph – August 2024
August 2024 Market Update
For more details on the Ottawa & Lanark County Real Estate Market Update August 2024 click here or the above graph
Stay tuned for more real estate insights and tips next month
Reach out if you want to discuss your local neighbourhood statistics.
Download the PDF – August Market Snapshot
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