Members of the Ottawa Real Estate Board (OREB) sold 1,488 residential properties in April through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,876 in April 2022, a decrease of 21%. April’s sales included 1,156 in the freehold-property class, down 18% from a year ago, and 332 in the condominium-property category, a decrease of 29% from April 2022. The five-year average for total unit sales in April is 1,739.

“Ottawa’s resale market is on a steady upward trajectory, narrowing the comparison gap to peak pandemic activity in 2022. However, with new listings not keeping pace, the available housing stock is declining, and with less than two months of inventory — we’re back into seller’s market territory,” says the Ottawa Real Estate Board President.

By the Numbers – Average Prices:

• Average prices have increased by 13.9% in four months since the market low in December 2022.
• The average sale price for a freehold-class property in April was $747,123, a decrease of 10% from 2022. However, it marks a 5% increase over March 2023.
• The average sale price for a condominium-class property was $435,875, decreasing 8% from a year ago, but still a 4% gain over March 2023.
• With year-to-date average sale prices at $718,633 for freeholds and $421,722 for condos, these values represent a 13% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

TRU Realty is proud to announce that Shawn Tobin has joined our brokerage as a seasoned Realtor with many years of experience in the real estate industry. Shawn's addition to our team is a testament to our continued commitment to providing top-notch services to our clients.

Shawn brings a wealth of knowledge and expertise to our brokerage, having worked in various capacities within the industry. His passion for the real estate business is evident in his dedication to his clients, and he has built a reputation for delivering exceptional customer service and building long-lasting relationships.

We at TRU Realty are thrilled to have Shawn as part of our team. His enthusiasm for the industry and his commitment to excellence align perfectly with our core values. At TRU Realty, we place a high value on professionalism, truth, and honesty, and Shawn shares these values wholeheartedly.

In addition to his impressive track record in the industry, Shawn was drawn to TRU Realty for our management and team. He appreciates our commitment to building a supportive and collaborative work environment that fosters growth and success for our Realtors. We are confident that Shawn will make valuable contributions to our team and help us continue to provide the highest level of service to our clients.

If you are looking to buy, sell or invest in real estate, we encourage you to reach out to Shawn Tobin or any of our experienced Realtors at TRU Realty. We are dedicated to helping you achieve your real estate goals with professionalism, truth, and honesty at the forefront of everything we do. Welcome to the team, Shawn!

We are excited to announce that Lee Swigger has joined TRU Realty as our newest agent. Lee comes to us after a successful career in high tech and multiple years of experience as a Realtor. He moved from Toronto to Ottawa to be closer to his family and has fallen in love with the city. Lee is eager to assist others in buying, selling or leasing property here.

Lee brings a wealth of knowledge and experience to the real estate industry. He has a strong background in negotiation, communication, and customer service, which are all essential skills for a successful real estate agent. Lee is also highly organized and detail-oriented, ensuring that all transactions are completed smoothly and efficiently.

One of the things that drew Lee to TRU Realty is our commitment to integrity, honesty, and professionalism. These are values that Lee shares, and he treats his clients with the same level of respect and transparency. Lee understands that buying or selling a home is a significant life decision, and he takes pride in guiding his clients through the process with care and attention to detail.

Lee is passionate about the Ottawa real estate market and is excited to help others discover all that the city has to offer. Whether you are looking to buy, sell, or lease a property, Lee has the expertise and experience to help you achieve your goals.

If you are interested in working with Lee, or would like to learn more about TRU Realty's services, please don't hesitate to get in touch. We look forward to helping you with all of your real estate needs.