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Ottawa Real Estate Board
New home starts were virtually unchanged in September compared with a year earlier at just over 1,500, housing agency says.
The average house price in the capital jumped 28 per cent year-over-year to $622,557, the Ottawa Real Estate Board says.
A flood of new listings last month did nothing to slow the rapid increase in local home prices, the Ottawa Real Estate Board reported Thursday.
The average sale price of a residential-class property was $585,084 last month, up a whopping 20 per cent compared with July 2019.
Average sale price jumps 15% to $575K
House prices hit $548,140 in May, a year-over-year increase of 11%.
In a study released this week, the Real Estate Investment Network predicts Ottawa will be the only one of the five major Canadian markets it surveyed that will avoid a housing slump in 2020.
Local real estate board predicts sales will rebound as restrictions are eased.
Home sales in Ottawa plummeted more than 60 per cent in the first two weeks of April compared with a year earlier, while a major realty firm is predicting prices will remain stagnant through the rest…