The Ottawa real estate market continues once again with stronger home sales this past July compared to July 2015. Here are some of the market’s highlights:

• Most sales were in two-storey and bungalow residential homes in the $300,000 to $400,000 price range, and one-level and two-storey condos in the $200,000 to $300,000 price range.
• The average sale price increases for residential properties were in:
  — 1 1/2-storey homes at $289,484​ (up by 6.7%); and,
  — bungalow homes at $371,064 (up by 6.9%)​
• The average sale price increases for condos were in:
  — 3-storey homes at $348, 929​ (up by 24.9%); and,
  — one-level homes at $333,416 (up by 4.5%)

To read more about this positive news, click on this market update report located here.

I welcome your thoughts on whether Ottawa will become another hot Canadian real estate market, similar to Toronto and Vancouver, due to the Province of British Columbia’s recent decision to impose a 15% tax on foreign buyers. Will the Ottawa real estate market have a bubble in a few years?