The prices in real estate in Ottawa, in the Ontario region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Ottawa has increased strongly during the last 6 months. In September, the average price per sq.feet was $56,695. In the following month the price per sq.feet increased considerably to $79,949. The price for the following two months in (November, December) had a considerable increment of 122 %. The price per sq.feet has had a considerable increase of 156 % 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 $75,704.5 to $118,000 during January, and February.
Based upon to the price in Ottawa (cities), this has fallen considerably in the last 6 months. The average price for September is $635,832. During October the price had a slight fall till $587,118. During the following two months (November, December) the average price had a considerable reduction of 78 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from $543,922.5 to $501,720.5 in January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $474,147 they are 6 % more affordable than the average price for Ottawa. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 3 bedrooms priced at $528,187.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of $144,572 / sq.feet, with an average $85,087 / sq.feet price in Ottawa. The properties with the highest average prices have 4 bedrooms. They are 131 % more expensive than the average followed by properties with 2 bedrooms with a price at $153,814 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $474,147 it is 26 % cheaper than the average price in Ottawa. "House" is seen as the second most affordable property type. The dearest property type is "Apartment" followed by "Office". At a price of $528,764 it is 26 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of $437 / sq.feet followed by "House" priced at $14,925 / sq.feet. "Office" is the most costly type of property with a $150,762 / sq.feet cost followed by "Condo" with an average price of $138,060 / sq.feet.