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 February, the average price per sq.feet was $56,766. In the following month the price per sq.feet decreased considerably to $44,594. In the following two months the price per sq.feet has barely changed, going from $50,680 to $48,603 per sq.feet. The price per sq.feet has had a considerable deflation of 73 % 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 $49,641.5 to $36,121.5 during June, and July.
Based upon to the price in Ottawa (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is $936,364. In March This price remains at $907,035. During the following two months (April, May) the price has had an average incrementation from $921,699.5 to $1,001,623. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % 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 $1,065,095 they are 65 % more affordable than the average price for Ottawa. The properties with the highest average price have 4 bedrooms, Their price is 7 % more costly than the average. After that we have properties with 3 bedrooms priced at $888,968.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of $451 / sq.feet, with an average $69,291 / sq.feet price in Ottawa. The properties with the lowest average prices have 4 bedrooms. They are 41 % cheaper than the average followed by properties with 3 bedrooms with a price at $9,486 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $1,065,095 it is 52 % cheaper than the average price in Ottawa. "Land" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Townhouse". At a price of $1,114,400 it is 15 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $1,011 / sq.feet followed by "Land" priced at $49,378 / sq.feet. "Duplex" is the most costly type of property with a $279,963 / sq.feet cost followed by "Commercial" with an average price of $144,828 / sq.feet.