'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.
Home sales in Ottawa plummeted more than 60 per cent in the first two weeks of April compared with a year earlier, while a major realty firm is predicting prices will remain stagnant through the rest…
Plus, Ottawa realtors share their picks for the capital’s hottest neighbourhoods
In an industry where the 'personal touch' can make or break a sale, the new age of social distancing has prompted Ottawa’s realtors to rethink their tools of the trade
Million-dollar home transactions in the nation’s capital used to be almost as rare as a unanimous vote in the House of Commons, but times have changed.