Ottawa Real Estate Market Report 2010

Ottawa real estate has been steadily increasing in value over the last few years, and The Royal LePage House Price Survey for the third quarter Ottawa real estate market update shows a continued increase in price across all three housing types surveyed in the Ottawa area.

Ottawa Homes For Sale

Standard Ottawa area condos produced the largest price increase, climbing to an average of $227,667, but standard two-story homes also rose 5.9 per cent year-over-year to an average of $345,167, which is quite the jump when compared to price increases from year to year from 10 years ago.

Prices for detached Ottawa area bungalows were also up four per cent, to $339,750, again quite the climb for a quarter to quarter market report review.

Buying Ottawa Properties

Low interest rates is helping to fuel the rising prices, as well as the rising demand with Ottawa home buyers. Currently sellers who have priced their homes appropriately are receiving their asking prices and are often still seeing multiple offers in areas with limited supply. To learn about what Ottawa real estate interest rates you could qualify for, simply contact us, Bobbie and Geoff McGowan, to learn more.

Ottawa Area Real Estate Information

According to the Royal LePage House Price Survey third quarter report, nationally, Canada’s residential real estate market also saw year-over-year growth in the third quarter.

In the third quarter, the average price of a detached bungalow in Canada was up 4.6 percent to $324,531, compared to a year ago.

Over the same period, standard Ottawa two-story homes rose 4.4 percent to $360,329 while standard condominiums rose 3.9 percent to $226,481.

Would you like to learn more about Ottawa homes for sale, the Ottawa real estate market, or how to relocate to Ottawa, Canada? Simply contact your expert Ottawa real estate agents, Bobbie and Geoff McGowan.

Until next time,

Bobbie