We are halfway through 2017 and the Ottawa resale market is thriving. Ottawa benefits from still being an affordable and desirable city in which to live and, due in part to this, was named Canada’s best place to live for the second year in a row by This is reflected in the market with average sale prices of both residential and condominium properties increasing compared to last year, with Realtors® reporting a rise in multiple offers on properties in certain neighbourhoods around the city.
“We’re having a stellar year so far in 2017. Year-to-date sales numbers for the first half of the year are up in both the residential and condo property classes, combined coming in at a 13.5 per cent increase over the same time period in 2016,” says Ralph Shaw, President-Elect of the Ottawa Real Estate Board.
June Real Estate in Ottawa Summary
- Members of the Ottawa Real Estate Board sold 2,162 residential properties in June (an increase of 8.9 per cent from the previous year).
- 1,754 sales in the residential property class with an average sale price of $434,502.
- 408 sales in the condominium property class with an average sale price of $289,905.
- The most common price point in the residential market in Ottawa this June was between $300,000 to $399,999.
- The most common price point in the condominium market in Ottawa this June was between $150,000 and $249,000.
A notable new trend is the rise in the lifestyle market in both residential and condominium class properties, which has not been seen for some years. Since the beginning of the year, 171 units over $1 million have been sold with 46 of those in June alone. Both of these figures have more than doubled since the same time last year. Shaw says this trend indicates that, “home buyers are looking beyond their basic needs to check off more boxes from their wish lists such as view, downtown location, or acreage property.”
If you are seeking any kind of support in listing your home, purchasing a new home, or learning more about the Ottawa real estate market, please contact our team of expert Realtors® at Royal LePage Performance Realty today to learn more. For more information on monthly real estate statistics in Ottawa, visit the Ottawa Real Estate Board.