If you’re looking to renovate your home with the end goal of selling it, 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 almost 2,000 Ottawa real estate listings active at this moment, with a median asking price of $379,900.
6 Grove Ave. #205 in Old Ottawa South, Ottawa, ON. Asking price: $344,900.
Although the high number of available listings may suggest that it’s a buyer’s market out there, in reality, the situation differs greatly from neighborhood to neighborhood. Old Ottawa South, Ottawa’s priciest neighborhood According to the newest Point2 Homes list of the most expensive neighborhoods in Ottawa, the front runner by median asking price is currently Old Ottawa South. Although the neighborhood makes a common appearance on other lists of expensive neighborhoods in Ottawa, the current whopping median asking price of $1,095,000 has a double explanation: a low number of active listings – mostly expensive detached homes—and the new luxury homes at 34 Brighton Avenue, which have entered the market recently. Rockcliffe Park, probably the most exclusive area in the city, is in second position in this list, with 17 homes for sale at an average price of $899,000. 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. As you can see below, the list contains some surprises. Kanata Lakes, one of the best areas in Ottawa to buy a family home in, is at #14 (average home asking price $511,000) while Alta Vista ranks 20th (last!). The low ranking is due to a large number of condos currently for sale. Alta Vista is a highly residential neighborhood in Ottawa, with vast green areas and parks, catering to all types of residents and all tastes. What you’ll find here is a great blend of older ranch houses and more recent, expensive pads. What most attracts people here, other than its quiet streets, is the range of services that is hard to match elsewhere. Neighborhoods with the most homes for sale The neighborhoods with the largest number of homes listed for sale at the moment are Greely, Westboro and Alta Vista, all of them thriving at the moment due to many new residential projects either in progress or just completed. These neighborhoods are usually targeted by a mix of home buyers, so if you’re planning to sell here, you should consider which category of people you want to attract.
257 Huntsville Dr. in Kanata Lakes, Ottawa. Asking price: $511,000.
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||13||$1,095,000|
|Old Ottawa East||13||$749,900|
|City View – Meadowlands||10||$537,450|
|Stittsville – Basswood||10||$517,400|
|Kinburn – West Carleton||37||$499,000|
|Cumberland Village – Beckett Creek||14||$469,450|
|Hintonburg – Mechanicsville||23||$450,000|