Ottawa real estate buying, selling, investing and developing opportunities are incredibly varied and offer something for everyone. As the nation’s capital, Ottawa has unique neighbourhoods from the busy ‘Old World’ style shopping on the famous Bank street to modern shopping centres dotting the entire city. Professional sports entertainment can be found on Bank street by the picturesque Rideau Canal, a World Heritage Site, walking distance to shops, museums, theaters, cinemas, restaurants and more. Those who like outdoor activities will absolutely love the abundant and carefully maintained green space in Ottawa centre areas and beyond the greenbelt. Where else in the world could one skate on a World Heritage Site from the famous Dow’s Lake all the way to the historic Ottawa downtown? One can also jog along said Rideau Canal not having to worry about traffic and cars.
Once downtown, in the Byward Market area, one will an incredible mix of small shops, restaurants, steak and coffee houses, the ultra-modern Rideau Centre shopping mall and many newly constructed luxury Ottawa condos. Let’s not forget about Ottawa downtown night life offering something to everyone from the usual dance bars to more personal music lounges.
Walking back toward the south one should take a stroll on Elgin Street, another great destination for those looking for great dining or a night out. Elgin Street may be boasting the most pubs and restaurant per square metre of any street in Ottawa!
Residential homes and condominiums are just as varied in these downtown locations as the shopping, dining and entertainment opportunities. One will find newly built luxury high-rise condos right by century old two storey homes. While prices have increased exponentially over the last decade or so there are still relatively affordable properties in the Ottawa centre areas.
Ottawa Real Estate stats for July 2015
Ottawa real estate agents sold 1436 residential homes in July via Ottawa MLS system. This compares with 1440 in July 2014, which is a slight decrease of only 0.3 per cent. The five year average for Ottawa homes for sale July sales is 1380.
This result underlies the continual strength and stability of the Ottawa real estate market.
271 in the Ottawa condominiums changed hands in July 2015. The inventory is still high with an average cumulative days on market of 78 days contrasting with 74 days in June. This reflects a continual Buyer’s Ottawa real estate market.
In July, the average sale price of residential Ottawa real estate was $394,889. This shows an increase of 4.5 per cent above July 2014. The average Ottawa condo sold price was $255,102, a decrease of 2.6 per cent over July in 2014.
Overall the Ottawa MLS continues to perform very well in the sale and marketing of Ottawa real estate.
Sales Volume Ottawa Real Estate agents sold over 1690 homes and condos in June via the Ottawa MLS platform. This represents an increase of over 2 per cent from the number of Ottawa homes sold in June 2014. The five year average for this month is 1664 residential properties sold.
274 Ottawa condos sold in June and 1,420 in the residential property class. The first half of the year saw 4.9% higher sale volume than the comparable period in 2014.
Ottawa Home Prices The average price of a free-hold home in Ottawa area was $404,254, showing an increase of 4.1 per cent over June 2014. The average sale price for a condos in Ottawa was $271,415, which represents an increase of 5.1 per cent over the same month in 2014.
Overall Ottawa continues to have a healthy and steady real estate market with consistent growth in sale numbers via the Ottawa MLS system by Ottawa real estate agents.