Ottawa Business Journal Staff Published on January 12, 2017
After ending 2016 with a bang, Ottawa’s residential real estate market is poised for modest gains this year, according to one of the country’s largest realtors.
Royal LePage forecasts local home prices will rise 1.7 per cent in 2017, but cautions that the appreciation could be sharper if the currently low level of listings persists.
“The level of inventory in Ottawa is much lower than we’ve seen in previous years, which limits opportunity for buyers and pushes prices upward,” said John Rogan, broker of record at Royal LePage Performance Realty, in a statement. “It’s a demand and supply issue. Listings priced correctly are selling quickly.”