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Million Dollar Sale Surge Pushes Average Home Value

Million Dollar Sale Surge Pushes Average Home Value

Date Posted: February 5, 2021

With a spike in luxury homes in Ottawa, the average sale price of residential home in Ottawa jumped more than 30% compared to 2020 according to the Ottawa Real Estate Board. In January 2019 the residential home in Ottawa was sitting at an average sale price of $516,000 compared to January of 2021 where it is $680,000. This raise in sale price is a continuation of a steady raise in prices over the past 12 months as properties for sale become more and more scarce. The Ottawa Real Estate Board reported that in January 2021, 63 properties sold for at least $1 million, compared to in 2020 where there were only 16 properties sold above $1 million. This has led to the increase of the average sale prices in Ottawa.

To read the full Ottawa Business Journal article; click here.

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