A new survey suggests that after a cool spring for Ottawa's housing market, prices will heat up in the months ahead.
Royal LePage's Market Survey Forecast expects housing prices to rise 7 per cent in the fourth quarter of 2023, from $719,900 in 2022 to $770,293.
The aggregate price of a new home decreased 4.8 per cent in the second quarter of 2023, to $761,600. The survey by Royal LePage finds the median price for a single-family detached home decreased 5.8 per cent year-over-year to $876,400, while condominium prices dropped 4 per cent to $400,000.
In its revised forecast, Royal LePage says it expects the aggregate price of a new home to increase 7 per cent in the fourth quarter.
"Ottawa remains an increasingly attractive region to Canadians and newcomers, over more expensive alternatives," Jason Ralph, broker of record and president of Royal LePage Team Realty, said in a statement.
"That affordability, however, hasn’t necessarily stretched to the rental market, where more attractive neighbourhoods have seen prices go up,” Ralph added. “Builders are working on purpose-built rentals, but that won’t help the market until next year."
CTVNewsOttawa.ca looks at what you can buy for the aggregate price of a new home in the spring in Ottawa. Here is what $761,000 will buy you in nine neighbourhoods across Ottawa in July.
Alta Vista – 9 Great Oak Private
This three-bedroom, three-bathroom row unit in the heart of Alta Vista is on the market for $749,900.
"Galley Kitchen with ample cabinet storage and counter space, eat in breakfast area plus attached living and dining rooms on main level," the listing on Realtor.ca says.
"Second level boast Primary bedroom suite with ensuite bathroom and walk-in closet space. Two additional sizable bedrooms and main bath complete the second level. Hardwood and carpet throughout home!"
There is also a fully finished lower-level recreation room.
Barrhaven – 38 Armagh Way
This two-bedroom, three-bathroom home in Barrhaven is on the market for $759,000.
"Gorgeous open concept single family detached bungalow with all the bells and whistles," says the listing on Realtor.ca, noting it's near the VIA Rail station and the RCMP headquarters.
"Fenced backyard with southern exposure, newly stained deck, storage shed, + single attached garage."
Carlington – 1283 Christine Avenue
This three-bedroom, three-bathroom home in Ottawa's Carlington neighbourhood is on the market for $749,000.
"Welcome to this beautifully renovated bungalow in Carlington. Enjoy easy access to 417, shops, and Ottawa Civic Hospital, with the Canada Agriculture and Food Museum nearby. This home has it all!" says the listing on Realtor.ca
"The main level features 3 bedrooms, a full bathroom, and a new powder room. The kitchen is fully updated with new appliances, an island, and quartz countertops. Separate laundry facilities and a spacious living area complete the main floor."
Cityview – 162 Meadowlands Drive West
This three-bedroom bungalow in Ottawa's Cityview neighbourhood is on the market for $769,000.
"This family-owned home has been well kept and maintained over the years," the listing on Realtor.ca says.
"The additional sun room brings in loads of natural lighting to the home; couple that with the finished basement and you have extra space for guests and entertainment."
Glebe – 225 Holmwood Avenue
This three-bedroom, two-bathroom home in Ottawa's Glebe neighbourhood is on the market for $724,900.
"A classic Glebe semi-detached, solidly built and in good overall condition," says the listing on Realtor.ca.
"Plumbing, electrical, roof, windows, insulation, furnace, air conditioner, hardwood, paint, the essentials have been taken care of. Affordable and just minutes to Lansdowne and the canal."
Kanata – 37 Bachman Terrace
This three-storey, four-bedroom townhouse in the Hazeldean area of Kanata is for sale for $734,900.
"This exquisite, practically new, home offers 1870 sq. ft. of living area. Designed for entertaining, the open-concept layout will captivate," says the listing on Realtor.ca.
"Step into a masterpiece featuring 4 beds & 4 baths, two are ensuites. Rich hardwood & ceramic floors create a warm & inviting ambiance. With smooth ceilings, this home exudes quality & elegance."
Manotick – 863 Solarium Avenue
This two-storey, four-bedroom home in Manotick is on the market for $760,000.
"This open concept home boasts gleaming hardwood floors, stunning cabinetry, pot lights, smooth ceilings, quartz countertops, stainless steel appliances, A/C and much more," the listing on Realtor.ca says.
"This home has 4 bedrooms above grade, 2 full bathrooms, a main floor powder room, double car garage and a finished basement."
Orleans – 1751 Belval Crescent
This three-bedroom, four-bathroom home is on the market for $759,900.
"The heart of the home, the kitchen, showcases stainless steel appliances that enhance the overall aesthetic as well as offers ample counter and cabinetry space," the listing on Realtor.ca says.
"Upper level hosts a living area with a wood-burning fireplace creating the essence of comfort. Second floor offers primary bedroom w/ensuite bath,walk-in closet + 2 other generously sized bedrooms + a full bath."
The home includes a gazebo outside.
Stittsville – 741 Derreen Avenue
This three-bedroom townhouse in Stittsville is for sale for $759,000.
"The main floor living space offers a family room as well as a formal room which creates the ideal layout for entertaining guests," the listing on Realtor.ca says.
"Enjoy the benefits of a corner townhouse with plenty of windows and abundance of natural lights. The modern kitchen showcases a deep under-mount sink, tall cabinetry, practical centre island with all brand new stainless steel appliances included."
