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 December, the average price per sq.feet was $44,777. In the following month the price per sq.feet increased considerably to $106,708. The price for the following two months in (February, March) had a considerable decrease of 39 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 1 % 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 $52,658 to $725 during April, and May.
Based upon to the price in Ottawa (cities), these have remained the same in the last 6 months. The price in December is $865,459, rising in January till $920,662. During the following two months (February, March) the average price fell 92 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $855,622.5 and $845,675.5 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $828,293 they are 24 % more affordable than the average price for Ottawa. The properties with the highest average price have 4 bedrooms, Their price is 60 % more costly than the average. After that we have properties with 3 bedrooms priced at $753,613.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $439 / sq.feet, with an average $670 / sq.feet price in Ottawa. The properties with the highest average prices have 2 bedrooms. They are 103 % more expensive than the average followed by properties with 4 bedrooms with a price at $924 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of $828,293 it is 39 % cheaper than the average price in Ottawa. "Condo" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "House". At a price of $945,870 it is 46 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $445 / sq.feet followed by "Apartment" priced at $761 / sq.feet. "Duplex" is the most costly type of property with a $277,171 / sq.feet cost followed by "Commercial" with an average price of $143,382 / sq.feet.