More Ontario Realtors now have access to more data as the PropTx MLS database expands to include listings from most boards in the province. 

PropTx, a wholly-owned and for-profit subsidiary of the Toronto Regional Real Estate Board (TRREB), promises members access to a centralized MLS, a long-standing priority among Realtors, according to TRREB CEO John DiMichele. 

“This has been a strategic focus, and through the creation of PropTx, was a key mandate for the organization,” says DiMichele. “The participating boards and associations were essential collaborators, recognizing that working together benefits all Realtors. A unified MLS database ensures consistency and continuity as it matures.”

Participating boards and associations currently have access to the PropTx MLS system, with the final stages of data transition underway. DiMichele explains several enhancements are expected in the first quarter of 2025, including expanded mandatory fields and the integration of pre-populated external data sets. These updates are based on feedback from participating boards and new users of the platform.

Participating boards and associations

The following boards and associations are part of the PropTx MLS collaboration:

• Toronto Regional Real Estate Board (including the former Brampton Real Estate Board)
• Central Lakes Association of Realtors (including Durham, Quinte, Northumberland, Peterborough, and Kawartha Lakes)
• London and St. Thomas Association of Realtors
• Niagara Association of Realtors (NAR)
• Kingston & Area Real Estate Association (KAREA)
• Timmins, Cochrane & Timiskaming District Association of Realtors
• Ottawa Real Estate Board
• Cornwall & District Real Estate Board
• Renfrew County Real Estate Board
• Rideau-St Lawrence Real Estate Board
• Oakville, Milton & District Real Estate Board (OMDREB)
• One Point Association of Realtors (formerly Lakelands, Guelph & District, Huron Perth, and Grey Bruce Owen Sound)
• Woodstock, Ingersoll Tillsonburg & Area Association of Realtors (WITAAR)
• North Bay & Area Realtors Association (NBARA)

DiMichele explains that through PropTx, members of these associations have access to more data than ever before, and that will expand as new features are introduced.

“The move towards a single MLS database creates incredible efficiencies for Realtors, both in the operation of their business as well as in the cost of operating their business,” DiMichele says. “The move towards a single MLS database reduces the need for interboarding MLS listings as well as paying for multiple real estate board and association memberships.”

TRREB’s CEO calls PropTx a for-Realtors-by-Realtors solution, “The long-term strategic goal of PropTx is to continue to offer a range of best-in-class tools, insights, and applications to improve the transaction experience for realtors and the clients they serve efficiently and effectively.”

Impact on ITSO

More boards transitioning to PropTx marks a shift for the Information Technology Systems of Ontario (ITSO), a not-for-profit corporation established in 2020 with the primary goal of creating a unified MLS.

Geoff Halford, ITSO chair, says the organization was initially created to increase access to MLS data through the operation of a regional MLS System when associations were not ready to amalgamate but wanted to share data. Halford says this purpose may no longer be relevant.

Member boards such as KAREA, NAR, OMDREB, NBARA, WITAAR, and OnePoint are leaving or have left ITSO in favour of PropTx.

Halford acknowledges the evolving landscape and its potential impact. “We are proud of the success we had creating a regional system that at its peak brought together 23 real estate associations and more than 24,000 users who had access to data from 29 of the real estate associations in the province, but we also understand that the landscape is quickly changing,” he said, adding  ITSO remains committed to supporting its current member associations, ensuring that the system continues to meet their needs.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market…” Geoff Halford, ITSO chair

ITSO will operate its MLS system for its remaining three member boards, the Barrie & District Association of Realtors (BDAR), Brantford Regional Real Estate Association (BRREA), and Cornerstone Association of Realtors, for the next two years under the current MLS Services Agreement.

“We will be reviewing what is in the best interests of our members and the future of ITSO over the course of the next two years,” says Halford.”There are other MLS Systems in Ontario and in other provinces that operate with far fewer users than ITSO, so we know such a system is viable, but we also understand the political pressure that our remaining members face to solve the problem of fragmented data access.

“We are disappointed that a solution could not be arranged with TRREB that would have fostered competition in the MLS services market and enabled all realtors in the province to access all the MLS data they need in the system of their choice.” 

Halford adds, “It is especially disheartening to see Realtors who formerly used the ITSO system complain on social media about the quality and quantity of listing content they now have access to in their new MLS System, as ITSO and its members prided themselves on building a comprehensive database of detailed and accurate MLS listing content.”

Industry perspectives

Paul Czan, president of the Ottawa Real Estate Board, says the board joined PropTx last fall.

Czan explains, “This new platform promises a much better experience with more data readily available. Faster communication and smoother transactions, in a sense. Another thing is we’re able to have input on the system.”

OREB’s president has high hopes for PropTx’s impact.  “I think it’s going to be a platform that’s going to bring stability and consistency amongst a bit of a shifting landscape in our industry, meaning that Realtors can be assured that they can have access to the same quality data as their counterparts in all the other regions.”

Editor’s note: The original article stated that the Ottawa Real Estate Board had left ITSO for PropTx. The board was not an ITSO member and the article has been updated to reflect that.

Ottawa saw 613 homes sell in December 2024, 7.9 per cent more than the previous year, the Ottawa Real Estate Board (OREB) reports. This was 6.8 per cent below the five-year average and 2.7 per cent below the 10-year average for December.

Year-to-date, sales totalled 13,526 units in December, which was 11.8 per cent more than the same period in 2023.

“A year of wait-and-see came to a close with the expected slowdown over the holiday season,” said OREB president Paul Czan in a press release.

“The latter half of the year brought signs of more favourable market conditions with consecutive interest rate drops, higher insured mortgage limits and extended amortizations. It’s early to assess the impact of these measures. And it’s an uphill battle against affordability and supply issues that persist.”

Optimism tempered with political change uncertainty

Czan explained that listing activity shows sellers expect improved conditions to bring more activity from buyers who have been watching the market but hesitate to make moves.

”While the improving market conditions are encouraging, the supply needs to be there. Coming political shifts are adding a layer of uncertainty but there is a trending optimism for more increased market activity in the months ahead.”

Source: OREB

Prices

The overall home price index composite benchmark price was $645,800 in December 2024, an increase of 3.8 per cent from December 2023.

This measure for a single-family home was $729,300, up 3.7 per cent year-over-year. Townhouse/row homes came in at $533,200, up 11.3 per cent from the year prior. Apartment homes were $404,400, 2.5 per cent less than in 2023.

Home sales in December 2024 totalled $406.9 million, up 12.7 per cent from December 2023. 

Inventory and new listings

December’s new listings rose by 13.6 per cent from the year before. The 603 new listings marked a 3.5 per cent increase from the five-year average and a 2.7 per cent drop from the 10-year average for December.

Active listings totalled 3,216 units at the end of December, 58.7 higher than December 2023, 90 per cent above the five-year average and 51.4 per cent above the 10-year average for the month.

Review the full report.

The Canada Mortgage and Housing Corporation (CMHC) recently reported that Ottawa’s “population-adjusted construction is at its lowest level in nearly 10 years.” A City of Ottawa progress report shows that Ottawa is only at 22 per cent of its annual housing target at the end of August.  

The Ottawa Real Estate Board (OREB) reported a healthy increase in home sales for September, with 1,047 units — a rise of 11.4 per cent from the same time in 2023. However, sales remain below historical averages, coming in 17.4 per cent below the five-year average and 15.4 per cent below the 10-year average for September.

Year-to-date, home sales reached 10,485 units, representing a 6.4 per cent increase compared to September 2023.

Healthy fall outlook with chronic supply issue — ‘not building enough of the right homes to address the ‘missing middle’’

“As we navigate a shifting housing market, Ottawa’s fall outlook is healthy,” says OREB president Curtis Fillier. “Activity is robust with an uptick in sales and prices remaining steady. Meanwhile, both buyers and sellers are rethinking their purchasing power amid news about additional interest rate cuts on the horizon, longer amortizations and increased price caps for insured mortgages.”

Fillier goes on to explain that recent policy developments to stimulate demand have been encouraging, though the Ottawa market doesn’t typically experience issues with demand. Rather, “We have chronic supply issues,” he notes. “We’re not building enough homes in the city, and we’re not building enough of the right homes to address the ‘missing middle.’”  

Price trends

The overall MLS Home Price Index (HPI) composite benchmark price for September was $642,800, a slight increase of 0.2 per cent from September 2023.

Single-family homes saw a benchmark price of $729,000, up 0.5 per cent year-over-year, townhouses/row units experienced a 1.7 per cent decline with a benchmark price of $500,000 and apartments had a benchmark price of $414,200, down 1.3 per cent year-over-year.

Inventory and new listings

September’s new listings totalled 2,343 units, a 3.9 per cent increase from the year prior. This was 4.7 per cent above the five-year average and 11.6 per cent higher than the 10-year average.

Active listings rose to 3,529 units, marking a 16.9 per cent year-over-year increase and sitting 43.3 per cent above the five-year average. Months of inventory rose slightly to 3.4 months, up from 3.2 months in September 2023, indicating a slightly more balanced market.

Review the full report here.

The Ottawa real estate market saw increased activity in August, with 1,100 homes sold, the Ottawa Real Estate Board (OREB) reports. This marks a 10.2 per cent rise compared to August 2023, though sales remained below both the five-year (-11.4 per cent) and 10-year (-14.1 per cent) averages for the month.

Year-to-date, Ottawa has recorded 9,444 home sales in 2024, a 6.0 per cent increase from the year prior.

Buyers remain cautious, advised to remain patient and work with realtors

“Being a seasonal market, it’s very encouraging to see sustained levels of activity throughout the whole summer,” says OREB president-elect Paul Czan. “And coupled with a third consecutive interest rate drop from the Bank of Canada, we are anticipating a heated market in the fall.”

While affordability remains a key concern for buyers, a steady stream of new listings and stable prices have kept them cautious. Czan notes that sellers must remain patient and work closely with realtors to price their homes appropriately and develop strong selling strategies.

Source: OREB

Price trends

Last month, the area’s composite benchmark price was $646,000, down by 0.3 per cent year-over-year. The benchmark price was $732,500 for single-family homes (-0.3 per cent), $502,200 for townhouse/row units (+0.3 per cent) and $416,800 for apartments (-1.2 per cent).

The average price of homes sold in August was $660,341, reflecting a 0.3 per cent increase from the year prior. Year-to-date, the average home price stands at $678,327, up 0.9 per cent from the previous year.

Inventory & listings

Ottawa’s housing inventory saw notable gains in August, with 1,907 new residential listings, 0.2 per cent more than the previous year. Active listings grew by 25.8 per cent to reach 3,324 units, while months of inventory rose to 3.0, up from 2.6 in August 2023.

In July, Ottawa’s housing market saw a significant uptick in activity, with 1,241 homes sold through the MLS system, the Ottawa Real Estate Board (OREB) reports. This marks a 13.6 per cent increase from July 2023, signaling a strong month for sales.

However, despite this surge, home sales were still 7.1 per cent below the five-year average and 8.8 per cent below the 10-year average for the month of July. Year-to-date, total home sales reached 8,349 units in July, a 5.5 per cent increase compared to the same period in 2023.

Encouraging market activity but Ottawa needs supply-side action

“As the market pace typically slows in the summer, July’s activity is encouraging and could be a sign of more gains ahead,” says OREB president Curtis Fillier. “Buyer confidence is slowly but surely catching up while sellers continue to add a steady stream of new listings. Of course, the extent to which that translates into transactions depends on the type of properties and price points available in our communities as supply and affordability issues persist.”

“It’s too early to tell, but recent policy developments could be a boost,” says Fillier. “Two consecutive interest rate cuts by the Bank of Canada, coupled with the federal government’s introduction of 30-year amortization periods on mortgages for first-time homebuyers purchasing newly built homes, will help some buyers. However, these are demand policies, and Ottawa — as well as many cities across the country — needs action on the supply side.”

Housing supply growth challenges and OREB’s response

The Bank of Canada’s Monetary Policy Report highlighted ongoing challenges in housing supply growth, pointing to municipal zoning restrictions and high development fees as significant barriers. Recent Ontario government data underscores these challenges, showing that Ottawa has built 1,593 homes out of its 12,583 target for 2024.

In response, OREB and its member realtors continue to advocate for solutions to the housing crisis, including allowing four units per lot and reducing high development fees.

Source: OREB

July prices

The overall MLS Home Price Index (HPI) composite benchmark price was $648,900 in July, a slight increase of 0.1 per cent from July 2023.

The benchmark price for single-family homes was $734,700, down 0.1 per cent year-over-year. Townhouse/row units saw a 3.4 per cent increase, with a benchmark price of $506,100. The benchmark apartment price was $422,800, a 0.9 per cent decrease from the previous year.

The average price of homes sold in July 2024 was $679,610, down 2.1 per cent from July 2023. Year-to-date, the average price stood at $681,082, up 1.0 per cent from last year.

July inventory & new listings

July 2024 also saw a 17.1 per cent increase in new residential listings, with 2,231 new listings hitting the market. This figure was 6.3 per cent above the five-year average and 6.9 per cent above the 10-year average for the month of July.

Active residential listings reached 3,480 units by the end of July, marking a 37 per cent increase from the previous year. This inventory level was 50.6 per cent above the five-year average but 2.3 per cent below the 10-year average for July. The months of inventory rose to 2.8 months in July, up from 2.3 months during the same time in 2023.

Review the full report here.

Ottawa saw 1,439 homes sold last month, which was 0.1 per cent more than the same time last year and 7.5 per cent below the five-year average for June, according to the Ottawa Real Estate Board (OREB).

Year-to-date, home sales totaled 7,109 units for the first half of the year — an increase of 4.2 per cent from the same period in 2023.

“Ottawa continues to see steady activity as we head into the summer market,” says OREB president, Curtis Fillier. “Unlike recent years, buyers have more room to wait, evaluate and be selective when searching for the right property at the right price, leading to a slight uptick in the days on market. Sellers are making moves as evidenced by the inventory and listings. After recovering from last year’s slowdown, Ottawa’s market performance is nearly back on par and continues to make gains.

It’s going to be an interesting summer and next half of the year. As confidence builds, there will be ample opportunities for both parties. Now is the time for sellers to ensure their property is at its best and priced appropriately to attract buyers who remain slightly reluctant. Buyers would do well to remember that inventory levels — and competition — can swing quickly in Ottawa’s tight market.”

Prices

The MLS Home Price Index (HPI) was $647,700 in June, a decrease of 0.5 per cent from June 2023.

Single-family homes averaged $734,300, down 0.2 per cent year-over-year in June, townhouse /row unit homes averaged $501,500, down 1.6 per cent from the year prior, and apartment homes averaged $420,800, 1.7 per cent less than a year ago.

Inventory & new listings

Ottawa had an increase of 4.7 per cent more new listings last month (2,469) compared to June 2023, which was 0.8 per cent below the five-year average.

There were 3,585 total active listings, up 45.5 per cent from the same period last year, which was 57.8 per cent more than the five-year average. Months of inventory stood at 2.5, up from 1.7 the year prior.

On June 24, an announcement about exploring regional integration was shared with the members of the Kingston and Area Real Estate Association (KAREA), Ottawa Real Estate Board (OREB), Renfrew County Real Estate Board (RCREB) and Rideau-St. Lawrence Real Estate Board (RSLREB).

It explains that the four boards are exploring integration, with the goal of building value, enhancing services and helping members to compete and provide excellent client service.

The announcement says that integration is being considered because it “could bring the regional boards together to establish a more influential and capable organization that can meet significant industry developments head-on and capitalize on opportunities to benefit our members.”

Examples of ways to achieve this are mentioned and include an expansion of shared services, a merger with one or more of the existing boards or an amalgamation into a new corporation.

The announcement goes on to note that any decision to integrate in any way must, and will, be brought to all members of all boards for a vote. A task force of representatives from each board has been created to ensure good governance and options are examined before being brought to the memberships.

Last week, the City of Ottawa’s Planning and Housing Committee proposed to raise the fees it charges developers building new homes by 11 per cent. These development charges are collected by municipalities to cover infrastructure costs and provide new housing services including water, wastewater and roads.

OREA’s take

Tim Hudak, CEO of the Ontario Real Association (OREA), says the increase will have a disastrous impact on new housing supply and raise the cost of new homes. “The potential impact that these increases will have on housing supply has not gone unnoticed by the federal housing minister, housing industry experts and homebuilders. OREA and the province’s nearly 100,000 realtors join our partners and stakeholders in sharing our concern that these fees will only worsen the housing affordability crisis.”

He indicates that development charges are an onerous part of building new homes in Ontario, as they hinder new construction and increase the price of a new home by up to $135,000, which gets passed down to the buyer.

OREB’s take

The Ottawa Real Estate Board (OREB) also points out that further hikes will lead to higher home prices and slow the construction of new homes — ultimately making homeownership less attainable for many Ottawa residents.

Like OREA, OREB strongly opposes the proposed increase and wants the city to reconsider a move that it says threatens to worsen the challenges facing prospective homebuyers. The board points out that the ramifications of a cost increase will also be felt beyond the community’s broader housing market when businesses and services can’t adequately attract and retain staff due to a lack of housing.

“At a time when we should be expanding the housing supply and enhancing affordability, this proposal moves us in the opposite direction. It risks deepening the housing crisis, putting additional financial strain on families and individuals striving to buy their first home. It runs counter to the federal and provincial governments’ efforts to address housing issues through new funding initiatives that do not rely on increasing costs for consumers,” the board states.

Alternative solutions

OREA and OREB suggest that municipalities pursue other avenues to increase revenue and build new infrastructure. Hudak points out that both the federal and provincial governments have offered new funding opportunities for municipalities that exclude passing costs down to consumers (including the Ford Government’s Building Faster Fund and the Trudeau Government’s Housing Infrastructure Fund).

In addition, both organizations recommend implementing more effective and equitable solutions to funding essential infrastructure without hindering housing development, including:

• Allowing water and wastewater services to be provided by municipal services corporations
• Changing city-wide policies to end exclusionary zoning, thereby allowing more diverse and affordable housing options to be built
• Encouraging higher density developments along transit corridors to maximize the use of existing infrastructure
• Helping switch underused commercial properties into residential spaces, increasing the housing supply without new land development

The ask of city council

“Ontario realtors, the Ottawa Real Estate Board and our partners in the Ottawa region are calling on Ottawa City Council to strike down the proposed hike on development charges and instead find solutions that will encourage more home construction and actually bring affordability closer to home,” Hudak declares.

“OREB and its 4,000 member realtors have insights and innovative solutions that promote housing affordability and supply and are committed to working with Ottawa’s city council, policymakers and housing partners to help more residents secure suitable housing,” the board offers.

The Ottawa Real Estate Board (OREB), with the Renfrew County Real Estate Board, Rideau-St. Lawrence Real Estate Board and Cornwall and District Real Estate Board, recently announced their adoption of PropTx, a technology platform with tools, insights and applications that provide a secure real estate transaction process.

The Kingston and Area Real Estate Association says it too will adopt PropTx. Several other Ontario real estate boards and associations are currently using the platform.

The move will help OREB in its mission to provide its 4,000 members with “leading-edge resources to achieve success in our community’s real estate market.”

OREB President Curtis Fillier explains: “The progression to using PropTx is about harnessing shared data and combined buying power to provide a comprehensive suite of tools that will empower realtors and their clients to make informed strategic real estate choices in a rapidly moving industry.”

PropTx’s suite of tools includes:

• Realm, a mobile-first platform that merges land registry and MLS data
• CoreLogic, a platform that realtors currently use
• SkySlope Forms and SkySlope Offers, for the offer experience
• HoodQ, which offers hyper-local data and more
• Fintracker, an identification and verification tool compliant with Canada’s financial intelligence, anti-money laundering and anti-terrorist financing initiatives

“Buying and selling property are among the most important transactions in a person’s life. With PropTx, OREB is building more capacity to help members provide unparalleled service with confidence,” Fillier says.

Today, the Ottawa Real Estate Board’s (OREB) board of directors announced that Nicole Christy will assume the permanent position of CEO on June 1, 2024.

Christy came from the London and St. Thomas Association of Realtors (LSTAR) as vice-president, corporate governance and leadership development. She joined LSTAR in 2021.

“Nicole’s experience with organized real estate and her connections to the Ottawa community make her the premier choice for CEO of the only local association dedicated to empowering Ottawa realtors to be community builders,” says OREB president Curtis Fillier.

“She’ll have the full confidence and support of OREB’s board of directors as she begins to tackle a list of exciting priorities.”

Christy brings several years of experience in housing policy and providing government relations support to Canada’s leading national associations, including the Canadian Real Estate Association (CREA), the Federation of Canadian Municipalities and the Canadian Home Builders’ Association.

Christy succeeds Janice Myers who left OREB at the end of 2023 after 10 years to become CREA’s CEO.

Looks forward to bringing members ‘new tools and services (to) elevate their practice and the value they offer clients’

“It’s a pivotal time in a rapidly evolving industry, but our mission remains steadfast: for OREB and its realtor members to be respected as the leading authority on real estate matters,” says Christy.

“I know I’m joining an exceptional team and I look forward to working with everyone to bring our members new tools and services that will elevate their practice and the value they offer to clients — including new technologies that facilitate barrier-free access to province-wide listing and property data.”

Photo source: OREB.ca