What you can expect to pay for housing in Ottawa

Published 19 March 13 10:19 AM | Gord McCormick 

Here is a summary of average selling prices by housing type
based on results for 2013 up until the end of February 2013.  These are only averages of course and will
vary by area, age of house, house features etc.
Our current residential real estate market has been slowing
but Ottawa is still one of the most stable markets in the country.  Technically, the current situation is probably
deemed to be a "balanced market" but we believe the market does favour buyers
slightly, particularly those without an existing property to sell or those who
have a firm sale on an existing property.

Residential Housing:            Average        +-          

Overall selling price:              $369,758   -1.3%
Overall detached home price: $383,825   -3.4%
Detached bungalow:               $346,448   -5.2%
Detached 2 storey:                  $428,146   -2.8%
Row townhome:                      $320,804   +3.9%
Semi-detached home:             $396,586   +7.9%       

Row townhomes:                    $221,034    -0.5%
Stacked townhomes:              $242,919   +7.2%
Apartment condos:                 $306,634   +0.9%
overall condos:                        $266,133   +0.1%     

Unit Sales YTD:
The # of unit sales for residential properties is down 11.8%
this year and condo unit sales are 6.0% lower than last year.
Listing Inventory:
Current residential listing inventory is 8.5% higher than a
year ago and the number of condo listings is up by 41.3%, so there is certainly
lots of choice for buyers.
It may be the best year in the last 10 or 12 for those moving
to Ottawa to be buying here. Many previous years have been seller's markets and
buyers have had little choice and a fast market pace to be buying in to.  This year may provide a better opportunity
for buyers overall.

For experienced assistance with your Ottawa relocation or
House hunting trip, please give us a call or send us an email.  613-435-4692 

Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage

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