Ontario Construction News staff writer
New home sales in the Ottawa region slowed down in February, according to the latest report from the Greater Ottawa Home Builders’ Association (GOHBA) and PMA Brethour Realty Group.
Only 261 new homes were sold in February, a decrease of nearly 14 per cent from Januaryโs 303 units sold. However, despite the February slump, year-to-date sales are still up 3.1 per cent compared to the first two months of 2024.
GOHBA executive director Jason Burggraaf said in a statement that although last month’s sales slowed, consumer confidence remains stronger than anticipated. โWith ongoing economic uncertainty and the threat of Trumpโs tariffs, we expected to see the numbers dip a little.โ
Februaryโs sales figures are down 13.9 per cent from January and down 6.1 per cent compared to February 2024. Despite this, February sales are still up 101 units compared to February 2023.
The hottest market for new home sales for the third month in a row was South Ottawa, with 145 units sold, representing 56 per cent of the market share. The west end came in second with 26 per cent of sales, followed by the east end with 17 per cent. Central Ottawa’s sales were only one percent last month.
Townhomes continued to be the most popular housing type, representing 48 per cent of all February sales. Condo towns were the second-most popular choice, with sales up 16% to 29%. Single detached homes made up 23 per cent of sales, while condo apartments accounted for only one per cent.
โThe rise in condo towns not only last month but over the past year shows the importance of offering diverse housing types that meet the evolving needs of buyers, especially in todayโs competitive market,โ said Burggraaf.