Ottawa’s housing market is firmly in sellers’ territory and home prices are expected to continue to climb in 2020, according to new data from real estate brokerage Re/Max.
The average sale price of a home in Ottawa was $393,978, an increase of 11.7 per cent year-over-year across the first 10 months of 2019, according to Re/Max. That’s the second-highest increase for all cities surveyed in Re/Max’s Canadian housing market outlook for 2020, behind only Niagara at 12.9 per cent.
Those prices are expected to appreciate even further in the new year. Re/Max is projecting a six-percent hike in Ottawa’s average sale price by this time next year, citing the newly opened light-rail transit system as driving up property values around the line.
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