A total of 1,766 homes sold for at least $1 million in Ottawa in 2021, more than double the previous year’s tally of 750 such “luxury” transactions, the firm says.
Builders started work on 393 new dwellings in the region last month, a steep drop from the 1,074 starts recorded in December 2020.
Median price of a single-family detached home in the capital rose 20 per cent year-over-year to $876,600 in the quarter, while condo prices increased 11.5 per cent to $417,700.
Ottawa startup’s employee count has tripled from 30 to 90 since August as it scrambles to keep up with the growing number of auctions on its docket.
'I don't expect we'll be in a balanced market anytime soon.'
Price ceilings on the rise: Surge in million-dollar sales pushes average Ottawa home value to new heights
Local realtors said 63 properties sold for at least $1 million last month, compared with 16 transactions valued at $1 million-plus in January 2020.
After a year that saw home average home prices jump 20 per cent, Ottawa homebuyers can expect little relief in the months ahead, according to a major Canadian real estate brokerage.
Overall, nearly 19,000 homes changed hands last year, a slight increase over 2019’s total of about 18,600.
Brokerage says region’s stable economy, an influx of buyers from the GTA and surging demand for roomier properties in the COVID-19 era will keep market humming.
The aggregate price of a house in Ottawa rose 11.7 per cent in the second quarter of 2020 compared with a year earlier, Royal LePage says, but some relief could be in sight.