Re/Max

The average price of a residential property in the capital was $550,933.75 at the end of August, down 1.1 per cent from a year earlier, real estate network says in its fall market outlook.
“Eventually, interest rates will go back down, and then people are going to (scramble) trying to buy everything up,” Paul Rushforth predicts, adding city could see “a mini version" of 2021's frenzy.
The 5,200-square-foot warehouse, located at 2764B Sheffield Rd., is positioned to serve not only Ottawa, but other nearby metropolitan areas, the company said in a news release.
Sector is “gaining momentum” thanks to a booming industrial market and a retail industry that’s roared back to life in recent months as pandemic restrictions have lifted, new report says.
Detached home sales topping the million-dollar mark accounted for 14 per cent of local transactions in January – up substantially from 2020, when they made up just three per cent of all deals.
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.
The average residential-class home sold for $716,992 last month, up from just over $600,000 a year earlier, the Ottawa Real Estate Board said Friday.
Firm predicts the city’s housing inventory will grow slightly in the year ahead but says “low levels are expected to remain a concern.”
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.
Board says the number of condos listed for sale is 25 per cent higher than a year ago, and properties are staying on the market longer.