Dunrobin cracks Ottawa’s Top Five Real Estate markets
By Jake Davies - West Carleton Online
DUNROBIN – The Dunrobin area is one of Ottawa’s hottest residential Real Estate markets according to recently released data.
Despite living in the age of COVID-19 July has been scorching in terms of temperatures and the Ottawa Real Estate market.
The Ottawa Real Estate Board (OREB) says 2,189 residential properties were sold in Ottawa during July, 151 more than July 2019 (an increase of more than 15 per cent) and well above the five-year average of 1,729 sales.
“The resale market is not only holding its own but has surpassed 2019 figures by a significant margin,” OREB President Deborah Burgoyne told CTV News recently. “Summer usually slows down; however, after the pandemic curtailed the spring market this year, we have rebounded well beyond expectations. It is somewhat surprising given continuing inventory shortages and the extra diligence and precautions being taken by our members and their clients to ensure everyone’s safety in the process.”
The Dunrobin area has taken huge advantage of the uptick in sales and is one of Ottawa’s Top Five markets.
Dunrobin, Hintonburg, Vanier and Greely are up by more than 45 per cent over last year. Manotick and Overbrook are tied for fifth place, up by more than 37 per cent.
“Hintonburg and Manotick have appeared on this list before,” Bennett Property Shop Realty’s Taylor Bennett said. “But both Dunrobin and Greely likely make this list due to the new societal working habits – the need to be close to your office may not exist as more people are telecommuting and both of these neighbourhoods offer more home for your dollar.”
OREB reports the average sale price of a residential-class property in Ottawa was $585,084 in July, a 20 per cent increase from a year ago.
“Summer usually slows down, however, after the pandemic curtailed the spring market this year, we have rebounded well beyond expectations,” Burgoyne said. “It is somewhat surprising given continuing inventory shortages and the extra diligence and precautions being taken by our members and their clients to ensure everyone’s safety in the process.”
