REAL ESTATE BROKER

Ottawa house prices climb in March; condos, not so much


Ottawa house prices climbed eight per cent to an average of $447,600 in March compared to a year earlier, while prices for condominiums edged up just 0.7 per cent to $275,600, according to data published Thursday by the Ottawa Real Estate Board.

These averages reflect the sale of some 1,660 residential properties sold last month through the board’s multiple listing service. They do not include data from the sale of new homes.

The number of properties available is somewhat constrained, with some 4,600 active listings at the end of March compared to nearly 6,000 a year earlier, which may have contributed to the rise in prices. To put the number of listings in context, the board represents some 3,000 sales reps and brokers in the Ottawa area.

Properties are selling faster, suggesting the market may be shifting in favour of sellers.

Residential properties sold in March had averaged 39 days on the market compared to 47 days in March 2017, while it took 58 days on average to sell a condominium compared to 78 days a year earlier.

 

Prices fetched through the sale of condominiums varied considerably by district. In March, these jumped fastest in the east (up 7.4 per cent to an average of $284,200) and were weakest in the downtown core (down 5.1 per cent year over year to $392,500).

Condo prices improved 4.3 per cent in the south (to $236,900) and 3.3 per cent in the west (to $330,700).


TOP 10 DISTRICTS IN OTTAWA


 

 


OPTIMISTIC MARKET AHEAD IN 2018



OTTAWA MLS ZONES



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PhotoAddressLocationNeighborhoodPriceStyleTypeBedsBathsCity
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771 Nesting Way
Ottawa Fallingbrook/Gardenway $325,000 2 Storey Residential 3 3 Ottawa
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201 Parkdale, Suite 703
983224 Mechanicsville $305,000 Apartment Other 1 1 Ottawa
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16 Kanata Rockeries Private
Kanata Lakes Kanata Lakes $1,699,900 Single Story Residential Kanata
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428 Sparks St, Suite 404
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47 photos
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54 photos
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41 photos
824 Ivanhoe Ave
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27 Hyde Park
1098830 Centrepointe $919,500 2 Storey Residential 5 4 Ottawa
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51 photos
244 Greensway Ave
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1168 Normandy Cresent
1105740 Borden Farm $839,000 Bungalow Residential 5 3 Ottawa
41 photos
7 Forestgrove Dr
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428 Sparks St, Suite 405
Centretown Centre Town $799,900 Single Story Residential 1 2 Ottawa
56 photos
1101 Huntmar Drive
Kanata $799,000 Single Story Residential 3 potential for 2 additional bedrooms on lower level 3 2 ensuite bathrooms Kanata
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Rented/Leased
5 photos
174 Lamplighters Drive
914264 Barrhaven RENTED/LEASED  $2,500.00 Monthly Single Story Residential
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13 photos
26 Edgemont Avenue
1023934 Fraserdale RENTED/LEASED  $2,400.00 Monthly 2 Story Residential
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368 Mackay street
923451 Lindenlea RENTED/LEASED  $1,850.00 Monthly Single Story Residential
Rented/Leased
10 photos
57 Constable street
970262 Old Barrhaven RENTED/LEASED  $1,750.00 Monthly 2 Story Residential
Rented/Leased
11 photos
324 Laurier, Suite 1906
956874 Centre Town RENTED/LEASED  $1,700.00 Monthly Apartment Condominium
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90 cedarock
944358 Bridlewood RENTED/LEASED  $1,650.00 Monthly 2 Story Residential
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9 photos
62 Locheland
923938 Barrhaven RENTED/LEASED  $1,500.00 Monthly Single Story Residential
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.