The real estate market in Ottawa has experienced a significant rally in prices since hitting a low point in November of last year. Both residential and condominium prices have been on the rise, and they are now approaching the levels seen in 2022.
In May, the Ottawa Real Estate Board reported that a total of 1,477 residential properties and 462 condominium properties were sold by its members. This represents an increase of 7.7% and 0.7% compared to May of the previous year.
According to a chart...
The rental market in Ottawa, Canada, is facing significant challenges due to the high level of immigration and the limited availability of affordable housing. As a result, competition for rental properties has intensified, with landlords often receiving offers above their asking prices. In this article, we will delve into the latest market trends and their potential impact on both tenants and homeowners in Ottawa.
Rental Volume and Pricing
According to recent data from the local MLS, Ottawa Real...
Prices are up 10% since the start of 2023. But, we are now seeing House Prices Drop while Condo Prices Continue to Climb.
Year to Date Ottawa residential freehold property prices are up $70,851 while condominium prices are up $23,631. 1 in 5 properties in April sold over it's asking price.
Ottawa has been seeing lots of demand for affordable housing and more so recently with our push to increase immigration to Canada.
With Canada's population growing by $1 Million in 2022 the prospect for affordable rentals across our country as well as in Ottawa and Ontario isn't looking great.
If you are thinking of buying or selling real estate in Ottawa or anywhere in Ontario for that matter you will need to call upon the services of a real estate lawyer.
What roles does the real estate lawyer play in your Ottawa real estate transaction? How much does the service of a lawyer cost when buying and selling a property?
Orleans-Ottawa Real Estate Market Update covering Q1 of 2023 (January to March). What neighbourhoods of Orleans are performing the best? Which neighbourhoods of Orleans are performing the worst?
Sales volume is down but competition is fierce as the market see low inventory. This means more bidding wars. 1 in 5 properties sold in March sold over the asking price.
