According to the Ottawa Real Estate Board, compared to February 2016, there was an 11.2 per cent increase in the number of residential properties sold by the end of February 2019. Not only that, but an increase of the average asking price of a residential property has risen to just over $400,000, an 8.5 per cent increase from last year currently making Ottawa a sellers market.
With big companies coming to Ottawa, as well as the projections for the OC Transpo LRT, the prices of properties are rising, and buyers are entering bidding wars or offering more than asking to secure them. Although numbers for March haven’t come in yet, there is no expectation that this is going to slow down.