February 4, 2009 : Ottawa Real Estate Market Holds Steady!

Members of the Ottawa Real Estate Board sold 530 residential properties in January through the Board’s Multiple Listing Service® system compared with 652 in January 2008, a decrease of 18.7 per cent. There were 467 sales in December 2008.

“While the market in Ottawa may not be booming, it’s certainly not a bust either. Sales declined the same amount in January as they did in December, which tells me that buyer confidence is holding steady here in the national capital,” said Board President Rick Snell.

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Each year the luxury homes market in Ottawa expands offering much more variety than ever before.  While the sale of homes in Ottawa over the Million dollar mark used to be largley restricted to Rockcliffe ( home to many of the embassies) sales of both condos and luxury homes well over 1 million dollars are occuring throughout the region. 

Click here to read more and see some of Ottawa's Million Dollar Properties.

The ABCs of CHIP Home Income Plan

Future Real Estate prices in Ottawa? Not Boom or Doom but Much Ado About Nothing says the CIBC researchers: Canadian House Prices Not Based on Demographics Alone April 18th, 2007 - The CIBC Canadian Real Estate Report is predicting that Housing prices will double in the coming 20 years!  It generated much press last week.  In Ottawa that would mean that in April 2027 the average sale price for a property would be $548,000!   In other words housing prices will increase 5% a year!  CIBC really went out on a limb on this prediction!!!  The Ottawa MLS® average sale price has increased an average 4.5% per year in the previous 20 years so a 5% prediction is a safe bet!  Of interest, the report debunks the boom and bust theorists who have predicted a demographic influenced bust in housing prices between 2011 and 2015. 

For your info here is the results of the Survey of Canadian House prices for the 4th quarter of 2004.  Click on the document to load.