Ottawa Real Estate: September Stats, CMHC Insights, and Thanksgiving Weekend Highlights

September in Ottawa brings more than crisp air and changing leaves—it’s also a time for fresh real estate stats and exciting city events! Let’s dive into the latest data from the Ottawa Real Estate Board (OREB), see what the Canada Mortgage and Housing Corporation (CMHC) is saying about new home starts and purpose built rental buildings across the city, and explore what’s happening in Ottawa this Thanksgiving weekend.

OREB September Stats: A Market in Motion

The Ottawa real estate market continues to show resilience. According to OREB’s latest report, the Home Price Index (HPI) for freehold properties reached $720,000, reflecting a modest year-over-year increase. Condos, meanwhile, saw their HPI settle at $430,000, with steady demand among first-time buyers and downsizers alike.

Sales activity remains balanced, with inventory levels gradually improving. This means buyers have more options, while sellers still benefit from Ottawa’s stable market fundamentals.

CMHC’s View: New Home Starts & Purpose-Built Rentals

CMHC’s recent analysis highlights a slight dip in new home starts compared to last year, driven mainly by higher construction costs and interest rates. However, purpose-built rental projects are gaining momentum as developers respond to Ottawa’s growing need for rental housing. This trend is expected to help ease pressure on the city’s tight rental market over the coming months.

Thanksgiving Weekend in Ottawa: What’s On?

Looking for ways to celebrate Thanksgiving in Ottawa? Here are four fantastic events to check out:

• Proulx Farm: Enjoy pumpkin picking, wagon rides, and autumn treats at this family-friendly spot just east of the city.
• Saunders Farm: Famous for its haunted attractions and harvest activities, Saunders Farm is a fall favorite for all ages.
• Lansdowne Farmer’s Market: Stock up on local produce, baked goods, and crafts at this bustling downtown market.
• AfroCaribbean Fashion Week: Experience vibrant culture, fashion, and music at this unique event celebrating Ottawa’s diverse communities.

No matter how you spend your Thanksgiving, Ottawa has something special for everyone. Wishing you a wonderful holiday weekend filled with good food, great company, and memorable experiences!

And if you've been considering Buying , Selling or Renting a property in the Ottawa area, don't hesitate to contact me directly to talk strategy.