Ottawa Multifamily Market Update Jan 2023

Multifamily Residential Market, February 1, 2022: There have been 3 sales of Income Properties in Ottawa in January, 2023.

2 sales were smaller buildings, down 86.7% over January, 2022 and 1 sale was a larger building with 5 or more units, down 80%.

The average price for a smaller income property in Ottawa is now $801,000 down 20.5%, these include Double, Duplex, Triplex and Fourplex buildings.

The average price for a larger multi-unit building is $1,400,000 down 7.3% over last year. These include buildings with 5 or more apartments in them.

❓How long are Income Properties taking to sell?
Smaller Duplex, Triplex and Fourplex properties are taking 147 days to sell in 2023 versus 53 last year. Larger buildings with 5 or more units are taking 118 days to sell, versus 89 days last year. We are reporting cumulative days on market which is more accurate.

❓How much did sellers get as a % of their list price?
Smaller buildings with 2-4 units achieved 94% of their list price and Larger buildings are selling for 90% of their list price.

Check out all multifamily buildings for sale on our site...👉👉
👉👉👉 https://www.agentinottawa.com/income-property-for-sale/👀

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