Members of the Ottawa Real Estate Board sold 1,390 residential properties in February through the Board’s Multiple Listing Service® System, compared with 1,134 in February 2020, an increase of 23 per cent. February’s sales included 1,028 in the residential-property class, up 24 per cent from a year ago, and 362 in the condominium-property category, an increase of 19 per cent from February 2020. The five-year average for total unit sales in February is 1,101.
February’s average sale price for a condominium-class property was $407,671, an increase of 17 per cent from last year, while the average sale price of a residential-class property was $717,914, an increase of 27 per cent from a year ago.With year-to-date average sale prices at $701,778 for residential and $395,496 for condominiums, these values represent a 29 per cent and 15 percent increase over 2020, respectively.*
“With supply constraints continuing to place upward pressure on pricing, there is no doubt that this economic fundamental is driving the price increases. This is also reflected in February’s total sales volume for residential and condos, which combined was at $885,592,105, 54% higher than the same month in 2020. There is no denying that scarcity is leading to a more rapid price acceleration. This scarcity combined with Buyers’ willingness to pay and compete in this market will continue to drive up the sales prices,” Wright asserts.
Increase in Homes Sold
Average sale price (residential)
Average sale price (condos)
Welcome to unit 404 at Frobisher Place, a beautifully updated and bright south-facing 1-bed condo with low condo fees that include heat, hydro and water. This condo screams convenience and will enhance your quality of life.More details
Fantastic end-unit with 3 bedrooms & 3 bathrooms on an oversized pie-shaped lot with bonus side yard in Kanata’s Trailwest community, close to shopping, transit & recreation, including a park across the street.More details
This 3-bdrm, 1.5 bath end-unit townhome with no rear-neighbours and 2 parking spaces is in one of Ottawa’s best neighbourhoods. Only minutes to downtown with quick highway access, only one stop away from Blair LRT, plus the planned LRT east extension.More details
Craig Dow turned that scary first time home buying process into a streamlined process. Always prompt with a great attention to detail. Good at asking the right questions to help you understand how you really feel. Patient and willing to work with you until the right property comes along. Quickly learns what you tend to like and dislike based off of your (sometimes non-verbal) reactions to previous showings. Works well under strict timelines and takes a lot of the stress out of the situation as he is prepared for seemingly anything and everything that could come up.
Craig helped me purchase my very first condo back in 2012. He was very patient, helpful and knowledgeable as he answered any and all questions and concerns that I had. He is very prompt, thorough and diligent in everything he does. He also provided me with many options for potential homes that he thought would suit my needs, which is why I didn't hesitate to ask him to be my realtor again when I moved last year. I have thoroughly enjoyed the smoothness and easiness both times that he has helped me and would highly recommend him to anyone looking for a similar experience!
Craig has gone above and beyond my expectations. From the very first conversation, Craig was intuitive, caring, and patient. He was honest and upfront about everything. Anything he didn't know/wasn't aware of, he was willing to admit, find out and got back to me very promptly. I couldn't have asked for a better Realtor and very grateful for everything Craig has done for me.
We were looking for a rural home and had Craig drive us around the Ottawa Valley for a few months, usually taking up all hours of the evening. He was incredibly patient, kind and honest when it was needed. Our time with Craig was enjoyable, and when it came time to get down to business he was incredibly professional, answered all questions we had (we had a lot as first time home buyers). Because of Craig's advice, we were able to land our first dream home. I truly believe that if we didn't listen to Craig we may not be in the house we are in now. I will thank him forever for that. Thank you for being assertive and knowledgeable. I would absolutely recommend Craig to anyone purchasing a home.