Ottawa’s housing market passed a symbolic milestone in June, as the average sale price of a home in the capital surpassed $500,000 for the first time ever.
Residential-class properties sold at an average of $500,716 last month according to the Ottawa Real Estate Board, an increase of 11.6 per cent year-over-year. Condo sales were up 6.2 per cent to an average $308,482.
OREB president Dwight Delahunt said in a statement that competition for homes is “brisk” in Ottawa, a trend he expects to continue with Ottawa’s strong employment and growing population – now past the one-million mark.
(Sponsored)
CHEO Gala: A dazzling night of glitz, glamour and good deeds
With its throwback theme to the Roaring 20s, luxe aesthetic, and 360-degree cocktail hub within the walls of the historic Fairmont Château Laurier, CHEO’s annual gala promises to be an
New 84,000 SF build at Sheffield South aims to fill Ottawa’s midsize-bay industrial gap
Richcraft Properties has officially launched leasing for a soon-to-be newly constructed 84,012 square foot high-bay industrial facility at 2774 Sheffield Road, part of its growing Sheffield South Industrial Hub in
Members of the OREB sold a total of 2,105 properties in June, up two per cent year-over-year. Residential-class sales totalled 1,612 – on par with 2018 figures – while 493 condos traded hands last month, an increase of 8.8 per cent from last year. Delahunt said condo sales have been driving market activity in the first half of 2019.
Properties in the $350,000-$499,999 price range accounted for 43 per cent of residential sales in Ottawa last month, with 29 per cent falling in the $500,000-$749,999 range. Some 55 per cent of condo units sold in the $225,000-$349,999 range in June.
