August 1, 2014—July 31, 2015 compared the same period ending 2014
Year-over-year to the end of July, Ottawa area resale real estate prices are still improving, though not as much as the average of 5% that was typical previously.
It is interesting to see that although the Glebe & Old Ottawa South had a 14% increase in sales, prices actually dropped by 5%. And conversely, Downtown East had 8% fewer sales, but 3% higher prices.
You can see the full PDF here.- 2015-09-Areas-Report
Please bear in mind that these charts include all resale residential & condo properties in the selected areas. Therefore, what looks like a drop in average prices may be due to many tiny apartments being sold in an area of traditionally more expensive properties. Conversely, infill semi-detached homes can be much more expensive than the houses typical to an area. Also, we are seeing more homes in established neighbourhoods where people have lived in them for up to 30 years and done few updates and in some cases limited maintenance, which of course is detrimental to price.
Let us know if you’d like more information on your area in particular.