The price of a home in Ottawa was on the rise in the final quarter of 2018, with the latest report from Royal LePage showing low inventory and strong demand turning the capital into a “seller’s market.”
According to the real estate services firm’s quarterly housing survey, Ottawa’s aggregate home price in the final three months of last year was $475,831, an increase of 9.3 per cent over the same period in 2017. Aggregate prices were up 1.7 per cent quarter-to-quarter.
The median price of a two-storey home topped $510,000 in the quarter, an increase of 11 per cent. Bungalows hit a median price of $453,698 while condos sold for $328,436, increases of 6.3 per cent and 3.1 per cent, respectively.