Ottawa: Good for Buyers and Sellers
Good news for real estate buyers and sellers in Ottawa. A sustained strong real estate market is making the the city a great place for sellers and a slight increase in resale home affordability is good news for buyers. According to a recent report from RBC, “the Ottawa market seems to be enjoying the best of both worlds lately”.
While RBC’s report listed Ottawa as the third least-affordable city (behind Vancouver and Toronto), Ottawa was the only city to show an improvement in affordability across the board for all housing types.
Meanwhile, buyers taking advantage of historically low mortgage rates have pushed Ottawa resale home sales to near-record levels.
The average sale price in February for resale residential real estate – for all categories – was $317,000, according to the Ottawa Real Estate Board.
