Ottawa's Housing Market
Updated: Dec 20, 2020
While a new report is reinforcing how the COVID-19 pandemic appears to have little to no lasting impact on Ottawa’s blistering residential real estate market, a local realtor says there could be a bit of relief in sight for home-hunters who’ve been starved for choice in a tight market.
The aggregate price of a house in the capital rose 11.7 per cent to $527,290 in the second quarter of 2020 compared with a year earlier, Royal LePage said in its latest house price survey results released in July. That’s the fourth-highest increase in the country after three other Ontario cities, Mississauga, Windsor and Markham.
“The good news is that the number of listings is starting to grow and buyers can expect to have more selection in the second half of the year. However, Ottawa is expected to remain a seller's market.”
Managing Partner at Royal LePage