Ottawa’s ultra luxury housing market is blooming like the tulips this spring, with a significant increase in the number of homes sold worth more than $2 million.
Data from the Ottawa Real Estate Board shows 12 homes worth more than $2 million were sold in April, up from six homes in April 2023.
“A lot of people think luxury, they think Vancouver, Toronto and Montreal,” Nick J. Kyte, real estate agent with Coldwell Banker First Ottawa Realty, tells CTV News Ottawa.
“Here in Ottawa, the ultra luxury market is very affordable when you compare it to those three cities in Canada so it makes it a more secure bet here in Ottawa because of that.”
The most expensive home sold in Ottawa in April was for $4 million on James Cumming Avenue.
“Typically, in the spring market, we have buyers looking and sellers coming to market. What we’re seeing is more confidence in both buyers and sellers as opposed to last year,” Kyte said.
“People just feel more confident in if they do find the right house, it fits their budget and they can afford it, they’re moving with an offer as opposed to last year where they could have liked everything about the property but were afraid of the interest rates and backed off.”
The statistics show there were 46 homes sold in the $1 million to $2 million range in April, up from 44 homes in April 2023.
Kyte says sellers may gain more confidence in negotiating the best possible price for the property when interest rates are expected to drop later this year.
“I think when we speak to the interest rates, ultra luxury buyers in Ottawa are very smart,” Kyte said.
“They know that when the rates do go down, whenever that’s going to be, that’s going to cause an uptick in competition, as well as sale prices will rise. Right now, we’re seeing the ultra luxury buyer purchasing properties that obviously fit their needs, but they’re also being able to negotiate in terms of terms, conditions, as well as price.”
Kyte tells CTV News Ottawa the ultra luxury buyers looking for homes worth more than $2 million are looking for properties on or near the water.
“Ottawa buyers are right now playing the game where they know when the rates do drop, and because the inventory is currently sitting at just about two months at the end of April, it can easily switch into a seller’s market very quickly and it can easily go back to what we were seeing during the pandemic in terms of multiple offers and houses selling well above list price.”
The five most expensive homes sold in Ottawa so far this year
- $5 million – 55 Old Sunset Boulevard. Three bedrooms, 2.5 bathrooms in a home overlooking Dow’s Lake.
- $4.26 million – 6125 James Bell Drive in Manotick. Four bedrooms, 4.5 bathrooms.
- $4 million – 123 James Cummings Ave. Three bedrooms, three bathrooms.
- $3.75 million – 112 Lisgar Avenue. Four bedrooms, 3.5 bathrooms.
- $3.25 million – 626 Brier Wood Ave. Four bedrooms, 4.5 bathrooms.
CTVNewsOttawa.ca look at the eight most expensive homes for sale in Ottawa this spring.
This five bedroom, six-bathroom home in Crystal Bay, with 117 feet of waterfront along the Ottawa River is on the market for $7 million.
A home along the Ottawa River for sale at $7 million. (Christie’s International Real Estate/website)
“Both the exterior and interior of this custom-built home, designed by architect Chuck Wheeler, have been meticulously manicured to curate a sophisticated and inviting living experience,” says the listing on Christie’s International Real Estate.
The home, known as “The View – Waterfront Estates,” includes a second-floor deck with a covered hot tub, a saltwater pool and is “unique in its access to spectacular waterfront.”
“The stylish interiors are both impressive and sophisticated. The home enjoys a rare sense of design forwardness, with spaces that are at once intimate and grand,” says the listing.
“The main floor opens into an exquisite foyer, set behind a custom mahogany door with sidelights and a transom. The gorgeous living room offers stylish symmetry focused around a feature fireplace. With elegant coffered ceilings, a picturesque banquette seat in the window and four sets of French doors to the back terrace, this is the perfect place to host.”
A look inside the five-bedroom, five full bath home for sale on Grandview Road in Ottawa. (Christie’s International Real Estate/website)
This five bedroom, six-bathroom home in Ottawa’s Rockcliffe Park neighbourhood is for sale at $5.5 million.
A home for sale on Willingdon Road in Ottawa’s Rockcliffe neighbourhood includes a indoor salt water pool, home gym and nanny suite. It’s listed for sale at $5.5 million. (Realtor.ca/website)
“This well-placed mid-century stunner offers an exceptional design with open flow, plenty of natural light through floor-to-ceiling windows,” says the listing on Realtor.ca.
“Wrap around terrace, walk out lower level with full-sized indoor saltwater pool, home gym, and nanny-suite. Cathedral ceilings throughout and luxury finishes for a perfectly 21st century ready home with a nod to mid-century touches.”
The one-storey home, built in 2000, includes an attached garage.
A look inside a home for sale on Willingdon Road in Ottawa’s Rockcliffe neighbourhood for $5.5 million. The home has five bedrooms and six bathrooms. (Realtor.ca/website)
Located on Lansdowne Road North, this five-bedroom, five-bathroom home is for sale at $4.95 million.
This five-bedroom, five-bathroom home in Rockcliffe Park is for sale at $4.95 million. The listing on Christie’s International Real Estate says the property includes a “phenomenal private backyard with pool and pool house. (Christie’s International Real Estate/website)
“This exquisite Rockcliffe Park home offers rare views of MacKay Lake, a phenomenal private backyard with pool and pool house, gorgeous light conditions throughout and a sensational layout,” says the listing on Christie’s International Real Estate website.
“The home has been beautifully renovated by Casa Verde Construction to feature state-of-the-art security, a Lutron lighting system, incredible theatre and custom built-ins. The approach to the house is picturesque, with a fabulous circular driveway leading to the front of the home.”
The home includes an “incredible home theatre,” a game room and an attached garage.
A look inside the home on Lansdowne Road North features five bedrooms, five bathrooms and a sound proofed home theatre. There is also a private backyard with a pool. (Christie’s International Real Estate/website)
This seven bedroom, seven-bathroom home in Ottawa’s Rothwell Heights neighbourhood is for sale at $4.495 million.
This home on Oriole Drive in Rothwell Heights is for sale for $4.495 million. The listing on Realtor.ca says the backyard oasis includes an in-ground pool and an outdoor kitchen. (Realtor.ca/website)
“Introducing a truly exquisite luxury property that redefines elegance and sophistication,” says the listing on Realtor.ca.
“The spectacular main level features an office, large dining room, butler’s pantry, primary retreat with 5-pc en suite and expansive walk-in closet, finished mudroom with built-ins, and a 2nd bedroom with its own en suite.”
The home features a family room, game room, gym, an in-ground pool in the “stunning backyard oasis” and an outdoor kitchen.
A look inside a home on Oriole Drive in Rothwell Heights, listed for $4.495 million. The listing on Realtor.ca says the great room has coffered ceilings and a striking floor-to-ceiling stone accent fireplace and “expansive windows.” (Realtor.ca/website)
The home with “stunning waterfront acreage” along the Ottawa River in Ottawa’s west end is listed for $4.2 million. The home has four bedrooms and three bathrooms.
This home on Berry Side Road, called a “stunning waterfront acreage property,” is for sale at $4.2 million. There are two homes in one on the property. (Realtor.ca/website)
According to the listing on Realtor.ca, the home is located on 5.6 acres, with easy boat launch and “amazing views in both directions.
“Two homes in one. Newer build side has 2 bedrooms, 2 renovated baths, full finished basement, birch floors, newer heat pump/hrv/windows. Original home side is more rustic with older kitchen area, 2 bedrooms, 1 bath & large porch w/electric retractable blinds overlooking the Ottawa River. Large great room.”
A look inside one of the two homes on a property for sale on Berry Side Road. The listing calls it a “stunning waterfront average property” and it’s for sale for $4.2 million. (Realtor.ca/website)
Listed at $3.988 million, this home in Ottawa’s Rideau Forest neighbourhood has five bedrooms and five bathrooms.
This home on Queenscourt Crescent in Rideau Forest is for sale at $3.98 million. This five bedroom, five bathroom home includes an in-ground pool with a fountain and slide. (Realtor.ca/website)
“Upon arriving, you’re greeted with tremendous curb appeal, mature trees & well-maintained front gardens. A 2-storey front door with rod iron detail makes for a great first impression while entering the home,” says the listing on Realtor.ca.
The home includes an expansive primary bedroom with a balcony overlooking the backyard and a three-sided fireplace. The entertainers’ basement includes a bar, cigar lounge, wine cellar, large rec area and a gym.
Outside, there is an in-ground pool with a fountain and a slide.
A look inside a home for sale on Queenscourt Crescent in Rideau Forest. The home, with five bedrooms and five bathrooms, is listed for $3.98 million. (Realtor.ca/website)
This six bedroom, five-bathroom home on Shoreway Drive in Greely is listed at $3.95 million.
This home on Shoreway Drive in Greely is listed at $3.950 million. The home, built in 2023, has six bedrooms and five bathrooms. (Realtor.ca/website)
“Welcome to an extraordinary residence that redefines luxury living at every turn,” says the listing on Realtor.ca.
“From the moment you step inside, you are greeted by a sense of grandeur, with soaring ceilings, beautiful chandeliers, and exquisite finishes throughout. From the radiant floor heating in the basement and garage to the gourmet chef’s kitchen and multiple balconies offering stunning views backing to a private pond, this home is designed for the homeowner who seeks both luxury and functionality.”
The home, built in 2023, includes a detached garage.
The kitchen of a home on Shoreway Drive in Greely. The home, with six bedrooms and five bathrooms, is for sale at $3.950 million. (Realtor.ca/website)
This home on Monkland Avenue in the Glebe has six bedrooms and six bathrooms. The home, originally built in 1910, is for sale at $3.9 million. (Realtor.ca/website)
Located in Ottawa’s Glebe neighbourhood, this six bedroom, six-bathroom home on Monkland Drive is listed at $3.9 million.
“Renovated and re-designed by the brilliant minds at O’Keefe-Fiorenza – find a 21st century family-ready layout yields flow and function,” says the listing on Realtor.ca.
“Hardwood floors, marble, leaded windows, wall and ceiling trim, high ceilings. Wood burning fireplaces, heated floors. A nanny or in-law suite and dedicated home office grow with your changing needs.”
The home was originally built in 1910, and includes an attached garage.
A look inside a home on Monkland Avenue in the Glebe. The home, originally built in 1910, is for sale at $3.9 million. (Realtor.ca/website)