Ottawa’s real estate market continues to grow well past 2020’s initial pandemic boom, according to new stat’s from the Ottawa Real Estate Update for January 2022. The update is prepared by The Tulip Team at RE/MAX Hallmark Realty Group.
In 2021, the price of a freehold house increased by 23.6%, to a whopping $719,605 average. A total of 15,318 houses were sold in 2021, and 4,984 condos were sold. The average price of a condo? $419,683… up 16.1% from 2020 figures.
Dave Williams, Director of Strategic Operations for The Tulip Team at RE/MAX, isn’t surprised at the rising numbers.
“We’re currently at a 10 year low for the number of properties available for sale in Ottawa. If you add in the population growth Ottawa has seen over the last decade, you can see why we have multiple buyers for every home for sale. It’s a challenging market out there and you need a professional guide.
You can view the full update via The Tulip Team at RE/MAX Hallmark Realty Group’s Ottawa Real Estate Update: January 2022 Edition. To connect with The Tulip Team at RE/MAX directly for more information, go to thetulipteam.ca