Ottawa House for Sale
Canadian Real Estate

In Ottawa, the aggregate price of a home is forecast to increase 4.5 per cent year-over-year to $516,200, crossing the half million dollar mark. See more

During the same period, the median price of a condominium is expected to increase 3.5% year-over-year to $341,300, while the median price for a two-storey detached home is forecast to rise 5.0%year-over-year to $547,600. Government stability and sustained growth in the high-tech sector will continue to benefit Ottawa’s real estate market.

“Ottawa continues to be an affordable city with great jobs,” said Kent Browne, Broker and owner of Royal LePage TEAM Realty. “Inventory is tight and there are few rental units available, which puts pressure on the overall real estate market. We are seeing multiple offers on homes between $300K and $500K and we expect this trend to continue into the New Year.”

“Without more supply, we can expect to see home prices continue to appreciate in mid-single digits,” said Browne. “The federal government’s First-time Buyer Incentive would have benefitted more people just a few years ago. In 2020, a typical home will sell for more than $500,000, which is the program’s cap.”