Whether you’re looking to buy a home or are planning to renovate, you should first consider the value of the homes in your neighborhood. In case you haven’t done this yet, a good starting point would be to take a look at the prices of homes for sale in your neighborhood and even similar neighborhoods.
A quick search on real estate website Point2Homes reveals that there are approximately 1150 Ottawa real estate listings active at this moment and on Realtor.ca it’s showing approximately 1200 listings.
What is the Average Selling Price?
According to Agent in Ottawa, the average freehold price in Ottawa is $799,940 which is an increase of 110.57% from the $379,900 price we reported when originally writing this report back in 2014.
What does this mean for you? If you’re a homeowner, it depends on your circumstance and future ahead.
What Are Your Options?
1) Take advantage of the increased equity in your home and renovate it. Update the kitchen, bathrooms, basements, build an addition and finally bring your vision to life. At OGC, you can request a free design consultation and see your renovations in 3D before any work ever begins.
2) You can sell your home and take advantage of the increased market prices. The downside to this is if you don’t need to sell, you will have to end up buying at higher prices as well unless you’re renting or moving to a completely different location. If this the case, renovated homes always sell for more and you can ask our experts which type of renovations can provide you with the best returns.
Top 20 Most Expensive Neighborhoods in Ottawa
Rockcliffe Park, in first place.
Probably the most exclusive area in the city, is in first place in this list. Known for the beauty of its landscape and for trying to preserve its historical heritage, Rockcliffe Park hosts a blend of mature Georgian-style mansions and luxurious, newer villas. Ideal for Lawyers, politicians, and doctors. Reflective of the above-mentioned neighborhood, Rockcliffe Park is home to the Prime Minister himself as well as other important dignitaries of the region. This is a very expensive neighborhood in which to reside.
Adjacent to Rockcliffe Park, this area is ideal for Lawyers, politicians, and doctors. This is a very wealthy neighborhood boasting many consulates as well as wealthy businessmen. Expect to pay top price for homes in this neighborhood. This neighborhood boasts many mansions and a lot of lovely green spaces.
Ideal for Those who prefer rural old town charm. Well established neighborhood with homes in the high-end price range. These homes have large properties and many love the ambiance of this old town neighborhood.
Situated next to the Champlain Bridge which leads into Quebec across the Ottawa River, this historic site is next to Westboro beach and Hintonburg and features many diplomatic residences and properties. It’s also a short drive to the Civic Hospital.
Ideal for Yuppies and progressives. Professionals and professional students will love this area. There is plenty to be had here and everything is close-in and easily accessible. Housing is mid-range priced and offers many lovely options including single-family dwellings and a few high-end options for condos.
Ideal for Families and professionals. Close to downtown, there’s plenty to do in this neighborhood. On the high-end of pricing, this area is a comfortable and safe area that offers many great amenities.
Old Ottawa South
Ideal for Professors, and those who are considered to be hip! The up and coming youth or hipsters of the region will enjoy living here. Colleges and Universities such as Carelton University are close-in and easily accessible. The Ottawa Hospital Riverside Campus is also nearby along the Rideau River.
Downtown Ottawa & Byward Market
Ideal for Professionals and government employees. The downtown area is home to many businesses as well as the hub of the city. Here are many government offices as well as businesses that keep the region running. Housing here consists of mainly condos and apartments ranging from high-end prices to median prices.
Ideal for Families. If you’re looking to set down roots and live a more quiet lifestyle this is an ideal option. Close to hospitals and schools, this area is home to a variety of families who are busy working and raising children.
Situated south of the Ottawa Airport (10 minute drive) with private neighborhoods such as Sunset Lakes and South Village which include ammenities like swimming pools, tennis courts, basketball courts and of course beautiful private lakes.
Ideal for Government employees and tech sector employees. Not as pricey as areas that are closer to downtown, there are still plenty of affluent homes in this area. Easy access to doctors and shopping areas.
Old Ottawa East
Ideal for Families. Again a quieter lifestyle yet close-in enough to reach the business corridor. Homes here are median-priced and many families enjoy this neighborhood. Perfect if your goal is to set down roots and relax a bit while still being close enough to the city.
Ideal for Middle Age Parents with kids still living at home. This is a relatively newer neighborhood that is lacking in some of the charms of the older neighborhoods, yet, nonetheless very comfortable living.
Ideal for Middle Age Parents with kids still living at home. Neighboring South Keys, this housing area is very suburban in nature while still offering comfortable living for those who can afford it.
Nepean / Centrepointe
Ideal for Hockey families and enthusiasts as well as immigrant families. Lying on the outskirts of town, this area is easily accessible for medical care, shopping and college (Algonquin). Homes in this area are comfortable and many are quite affluent.
Barrhaven / Stonebridge
Ideal for Families. With plenty of schools nearby, this is an ideal location to raise a family. These homes run about mid-line in price. Comfortable and affordable this is a quiet neighborhood.
Ideal for Bilingual families and suburbanites. Full of plenty to do, this neighborhood boasts a strip mall, plenty of nightlife activities, and yet still remains suburban. You’ll likely need a car in this area as the transportation system isn’t as vast as other areas.
Ideal for Families. This is a rural community that is close to Ridge Rock Brewing company and many other great businesses and restaurants. Close to schools and other potential places of employment.
Ideal for Families. Steeped in history, this neighborhood is well established and comfortable. Median priced housing is an ideal place to bring up a family. There are many great historical sites in this particular neighborhood and this allows for plenty to do during the day.
Ideal for Those who prefer smaller sized village life or rural living. If rural life is what you’re seeking, this is an ideal option. Median priced housing make this an ideal option.
Depending on what you’re looking for, the above-mentioned neighborhoods offer median housing prices from around $840,000 upwards to a $4,298,000 . If you’re looking for the hustle and bustle of city life, there are plenty of great options. By contrast, if you’re looking for a more rural lifestyle, there are also plenty of great options for you and your family to enjoy life in Ottawa. Whether you’re planning to buy or sell, there are plenty of great choices to be had in this list of The Top 20 Most Expensive Neighborhoods In Ottawa
Here’s the entire list of the priciest neighborhoods in Ottawa, including the number of active listings, so that you know how much “competition” you may be facing if you’re planning to sell in any of these areas:
Ottawa’s Top 20 Neighborhoods by Median Asking Price
|Neighborhood||no. of listings||median asking price|
|Old Ottawa South||2||$1,310,000|
|Downtown Ottawa & Byward Market||6||$1,250,000|
|Old Ottawa East||3||$1,100,000|
|Nepean / Centrepointe||2||$990,000|
|Barrhaven / Stonebridge||5||$980,000|
|Kinburn – West Carelton||1||$840,000|
What is the Most Expensive Home That is For Sale Right Now in Ottawa?
On Realtor.ca, the most expensive listing is for $6,500,000 for a prestigious home located in Rockcliffe Park. On the listing it states that it is arguably one of the most specatcular and private homes in the area and was designed by Andre Godin. It’s truly one-of-a-kind and you have to see it to believe it, click here to view the listing.