{"id":304575,"date":"2024-10-09T16:04:09","date_gmt":"2024-10-09T16:04:09","guid":{"rendered":"https:\/\/wahi.com\/ca\/en\/?page_id=304575"},"modified":"2024-10-09T16:04:36","modified_gmt":"2024-10-09T16:04:36","slug":"press-releases-october-9-ottawa-99-underbidding","status":"publish","type":"page","link":"https:\/\/wahi.com\/ca\/en\/press-releases\/october-9-ottawa-99-underbidding","title":{"rendered":"Wahi Press Release: Home Prices are Getting Bid Down in 99% of Ottawa Neighbourhoods"},"content":{"rendered":"

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News Release<\/h1>\n

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Home Prices are Getting Bid Down in 99% of Ottawa Neighbourhoods<\/h2>\n

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Throughout the first three quarters of the year, the vast majority of neighbourhoods across Ottawa<\/a> have remained in underbidding territory.<\/em><\/p>\n

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OTTAWA, ONT. \u2014 October 9, 2024 \u2014 Ottawa\u2019s housing market was almost entirely underbid in the third quarter, new analysis from digital real estate<\/a> platform Wahi suggests.<\/p>\n

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Some 99% of the city\u2019s neighbourhoods were in underbidding territory during Q3. The share of neighbourhoods in underbidding territory increased from 89% in the second quarter<\/a>.<\/p>\n

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Throughout the year, the vast majority of Ottawa neighbourhoods have seen prices bid down, although Q2 had seen underbidding activity fall back slightly from Q1, when 94% of neighbourhoods were underbid.<\/span><\/p>\n

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\u201cAs we\u2019ve seen in other Canadian housing markets, including Toronto and Calgary<\/a>, more underbidding activity doesn\u2019t necessarily lead to large price drops,\u201d says Wahi CEO Benjy Katchen. \u201cOverall, Ottawa home prices are holding relatively steady,\u201d he adds.<\/p>\n

The median price of an Ottawa home, including houses and condos, was $640,000 in Q3, roughly unchanged compared to a year ago.<\/p>\n

Buyers appeared to take advantage of stable pricing, with 2,995 homes changing hands in Q3, a year-over-year increase of about 13%.<\/p>\n