Less than a year old, this very cute 1 bedroom condo is in Centretown West. In the heart of Chinatown, 1 block from Little Italy. Beautiful touches include hardwood and granite flooring throughout, a balcony overlooking colourful Somerset Street west, 5 appliances, and underground parking.
$212,900

Stainless appliances in kitchen.

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.

Ottawa's Luxury Home Market is Growing
Over the past few years the Ottawa Real Estate Market has seen an increase in the number of homes and condos that sell for a million and up.  Used to be that only happened in Rockcliffe, but now we're finding homes of this calibre in at various locations throughout the city.

Sales of Million Dollar Homes in Ottawa for 2007.
In 2007, in Ottawa according to the MLS® statistics, there were 42 homes that sold having a list price of more than $999,000.  The most expensive one went for $3,3 million dollars, and the lowest one sold for $960,000.  The average sale price to listing price was 93%.  This means if you intend to list a house in the million dollar range there are perhaps 40 buyers out there in a given year that might be available to buy it.  There were 74 listings up to prices as high as $10 million which did not sell in that same time frame, 19 cancellations, 6 withdrawn listings and 49 that just expired.  This means that only 42 out of 116 listings in this price range sold.  That's a success ratio of only 36.2 percent. 

That's not a high ratio of sales to listings which means you're if you're trying to sell you're competing for a very small market.  That means that you really need to have good exposure - especially web exposure as buyers in this price range are very likely to be coming from elsewhere.  (How did you get to this site?)

Sales of Million Dollar Condos in Ottawa in 2007.
In 2007 according to the MLS® statistics there were 3 condos that sold in Ottawa that had a list price of over $999,000.  The highest price one was 1.2 million dollars.  There were two additional listings in the price range which were also listed but did not sell.  In previous years the system records 1 sale in 2006, and 1 in each of 2001, 2003 and 2005. 

This week's million dollar home opportunities in Ottawa.
There are currently around 47 homes and 4 condos in the million plus price range in Ottawa.  Want to get a glimpse - click on the links below.  (Note you must be logged in to view the links)

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Throw away your shovels and get into a downtown condo! Great opportunity for the busy downtown executive or politician, a great Ottawa Pied-a -Terre. Beautiful new kitchen - just installed, hardwood and ceramic floors throughout, superb views, underground parking, resort amenities and 24 hour security. 5 appliances. 1403-500 Laurier Ave. Just $225,900.  -SOLD!

ONTARIO EXPANDS LAND TRANSFER TAX REFUND PROGRAM 
First-time buyers of resale homes to benefit from new tax measure 
The McGuinty government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.
"Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said.
Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.
The expanded Land Transfer Tax Refund Program for First-time Homebuyers is part of a package of new tax initiatives announced in the 2007 Fall Economic Outlook and Fiscal Review that would provide $1.4 billion in provincial tax relief for business and people over three years.
The government is making strategic investments in people, communities and infrastructure to strengthen Ontario's economic advantage and help manufacturers and other sectors challenged by current economic conditions.
For more information details please visit: http://www.rev.gov.on.ca/english/notices/ltt/0207.html 

Second Place winner in the 2002 Best New Condo Award by the Ottawa Carleton Home Builders Association Just $399,900 - Great for the busy Executive Couple wanting an Oasis in the City - Sold!  It's easy to see why, as this apartment is absolutely gorgeous.  Located in the heart of Centretown in Domicile's Metropolitan I, the building that set the new standard for condos in Ottawa. 

The Everett by Domicile at 375 Lisgar St.

Rarely available - 1452 Square Feet (per builders plans) of Luxury loft-style living in downtown Ottawa - just 417,900- Sold in just 5 days for more than asking price!  In the heart of Centretown Ottawa, this great loft-style condo offers 2 large bedrooms plus a den/office.  1452 square feet per builders plans.

First time ever that this layout comes available for resale!  Luxury 2 bedroom condo at Metropolitan I in the heart of Centretown - Just $369,900 - Sold in 3 days!  1174 square feet (per builders plan of decadent urban lifestyle!  One of the favorite benefits of a condo built by Domicile, is the availability of gas fireplaces, gas barbeques on the huge balconies, and this one goes even further to offer a gas stove in the open concept kitchen.  Great for creating those special gourmet treats.