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House Hunting in Canada: Octagonal Riverfront Views Outside Ottawa

House Hunting in Canada: Octagonal Riverfront Views Outside Ottawa After lagging behind larger Canadian cities for years, Ottawa saw home prices balloon in 2020, fueled by a surge in demand and ‘inventory at historic lows.’ By Michael Kaminer $3.77 MILLION ($4.795 CANADIAN DOLLARS) Set on the banks of the Rideau River, this custom-built four-bedroom home is in Manotick, a village about 15 miles south of Ottawa, Canada’s capital city. The 3.4-acre property includes 264 feet of water frontage, with two boat slips. “It’s rare to acquire a property on the river with this much waterfront,” said Marilyn Wilson of Dream Properties, the listing broker. “And having two boat slips is unusual. You wouldn’t be able to get them now because of conservation rules.”

Record $10 billion worth of properties sold in Ottawa in 2020

  OTTAWA The COVID-19 pandemic didn t slow down Ottawa s real estate market in 2020, with a record $10 billion worth of properties sold in the capital. A total of 18,971 residential and condo units were sold in Ottawa in 2020, compared with 18,613 in 2019.  The Ottawa Real Estate Board says the average sale prices of both homes and condominiums increased 20 per cent and 19 per cent over 2019 respectively. When analyzing the year-end figures, what clearly stood out what that although the number of units sold was only slighter higher than last year, the total sales volume topped a record-breaking $10 billion compared to $8.2 billion at the end of 2019, said Debra Wright, President of the Ottawa Real Estate Board.

Average Ottawa home prices jumped 20% in 2020: OREB | Ottawa Business Journal

Ottawa’s red-hot residential real estate market saw no slowdown in momentum as 2020 drew to a close. Home sales surged more than 30 per cent in December compared with a year earlier, the Ottawa Real Estate Board said Wednesday, with the new head of the organization urging buyers to brace themselves for more price increases in 2021. Members of the Ottawa Real Estate Board sold 1,002 properties last month, up from 757 in December 2019 and well ahead of the five-year average of 779. Local realtors sold 710 residential-class properties and 292 condos last month, with both segments posting year-over-year increases in the 30 per cent range.  Overall, nearly 19,000 homes changed hands in 2020, a slight increase over 2019’s total of about 18,600. But prices rose at a much faster rate over the last 12 months as buyers snapped up new inventory almost as fast as it was put on the market.

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