Luxury home sales up 86% in Ottawa since 2009: Re/Max

OBJ Staff
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The number of Ottawa residences reselling for over $750,00 has increased significantly since 2009, according to a new report by residential real estate firm Re/Max.

(Stock image)

The study, which looks at sales conducted through the multiple listing service, found that the number of luxury homes sold in the city was down slightly to 390 in 2013 from 392 in 2012. However that’s still an 86 per cent increase from 2009, when 210 luxury homes were sold.

The far majority of those homes, 375, were detached single-family houses.

The other 15 were condos. That’s a big drop from 2012, when 35 high-end condos changed hands.

However, because the Re/Max study doesn’t include the sale of new homes by developers, the actual number of high-end condos sold should be higher.

The Glebe had the largest number of high-end house resales in 2013 but the most expensive house, which sold for $2.78 million, was in Rockcliffe.

The Glebe was home to the city’s most valuable condo sale, with one unit going for $1.1 million.

Those two homes were among 112 that sold for over $1 million.

According to the report, this year’s highest-prices houses could go for even more. For example one house in Rockcliffe is currently listed at a little under $4 million.

There’s also one condo on the market with a list price of almost $3 million.

Geographic location: Ottawa, Rockcliffe

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  • Dave P
    January 31, 2014 - 11:16

    $750K now gets you a 100 yr old, garage-less home in Old Ottawa South or Westboro in dire need of another $150,000 in renovations.....hardly a "luxury" home. Sinking almost $1 million into real estate is now the norm for upper middle income couples with kids who want to live our City Council's pipe dream of intensified living within the greenbelt and using public transit as the default means of getting around.