The prices in real estate in Ottawa, in the Ontario region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Ottawa has had a strong decrease during the last 6 months. In January, the average price per sq.feet was $150,913. In the following month the price per sq.feet decreased considerably to $85,087. The price for the following two months in (March, April) had a considerable decrease of 24 with regard to the prior two months. The price per sq.feet has had a considerable increase of 134 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $73,140.5 to $98,051.5 during May, and June.
Based upon to the price in Ottawa (cities), this has gone downing the last 6 months. The average price for January is $529,294. During February the price had a slight fall till $474,147. During the following two months (March, April) the average price had a considerable reduction of 51 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 170 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $624,924 they are 46 % more affordable than the average price for Ottawa. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at $610,127.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of $31,878 / sq.feet, with an average $75,341 / sq.feet price in Ottawa. The properties with the highest average prices have 1 bedroom. They are 145 % more expensive than the average followed by properties with 4 bedrooms with a price at $163,741 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $624,924 it is 53 % cheaper than the average price in Ottawa. "Land" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Apartment". At a price of $716,054 it is 419 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of $278 / sq.feet followed by "Apartment" priced at $448 / sq.feet. "Commercial" is the most costly type of property with a $150,309 / sq.feet cost followed by "Land" with an average price of $117,213 / sq.feet.