2020 Market Analysis

In 2019, house prices increased by 8.4%, while unit sales rose by 6.6%. In 2020, Royal Lepage has predicted the average home price in Ottawa to increase by 4.5% to $516,000.Royal Lepage also predicted  “the median price of a condominium is expected to increase 3.5 per cent year-over-year to $341,300, while the median price for a two-storey detached home is forecast to rise 5.0 per cent year-over-year to $547,600”.Royal Lepage is crediting   this rise to Government stability and sustained growth in the high-tech sector. With Ottawa in the midst of growth, and inventory being tight, multiple offers on homes between 300K and 500K are extremely common, from condos to detached homes. 

​We are clearly in a sellers market! If you feel the need to sell, this is a perfect environment to optimize the value of your home.  

​