It’s getting more and more expensive in O-Town! According to a new report, Ottawa house prices have increased significantly since last year, with the average sale price jumping a whopping 22%.
According to the Ottawa Real Estate Board, the average cost of a condo was $383,640 in August, a jump of 24% from 2019.
House prices were also up, with the average residential-class property selling for $566,291. Eek!
How much Ottawa house prices have increased in 2020
While it’s getting pretty hot in the national capital region, it’s still relatively reasonable when compared with Toronto prices.
Over the same month, the average selling price in the 6ix rose to $951,404, a record-breaking figure for Toronto real estate.
With shocking price tags on all sorts of properties in the city, a move to the countryside suddenly seems pretty appealing.