Ottawa new home sales rebound in May, still lag 2024 figures

Ontario Construction News staff writer

Ottawa’s new home market saw a notable rebound in May, with sales increasing by 28.6 per cent from April to reach 315 units sold, according to the latest report from the Greater Ottawa Home Builders’ Association (GOHBA) and PMA Brethour Realty Group.

Despite the month-over-month recovery, May’s sales remain 11.3 per cent lower than the 355 homes sold in May 2024.

“May saw the highest monthly sales this year, and the sharp increase from April is an encouraging sign,”  GOHBA executive director Jason Burggraaf said in a statement last Friday (June 20). “Buyers are clearly still active, but higher borrowing costs and ongoing economic uncertainty continue to temper the overall pace of the market.”¹

Seventy more new homes were sold in May compared to April. However, overall activity for the month remained below May sales figures for both 2023 and 2024.

Year-to-date, 1,418 new homes have been sold across the region, representing a 6.4 per cent decrease from the 1,151 sales recorded during the same period last year.

Sales hotspots and home types

The report indicates that the south and west ends of Ottawa were the most active markets in May, each accounting for 37 per cent of total sales. The east end contributed 21 per cent of sales, while Central Ottawa saw 4 per cent.

Townhomes continued to be the most popular housing choice, making up 44 per cent of May’s sales. Single-family homes followed closely at 40 per cent, a significant rise from 34 per cent recorded a year ago. Condo townhomes accounted for 13 per cent of sales, with condo apartments making up the remaining 3 per cent.