The Ottawa real estate market has historically been a stable market for many reasons including our local economy, housing supply and strong pricing compared to other major Canadian cities. There’s no doubt that if you’re looking for somewhere to build your life, and your real estate portfolio, Ottawa is a great place to start. The only question left is: which Ottawa neighbourhood is the best place to invest in real estate?
In this blog, we’ll take a look at Ottawa house prices by neighbourhood to give you an overview of trends we’re seeing and potentially help you decide which neighbourhood is right for you.
Ottawa Neighbourhoods In This Article
- Manotick Village
- Westboro
- Stittsville
- Barrhaven
Have specific questions about an Ottawa neighbourhood not listed? Reach out to our team or explore other Ottawa neighbourhoods.
House Prices By Neighbourhood: Manotick Village, ON
Manotick is a great community for many reasons, not just real estate investment! Our team’s office is located in Manotick and many of our team members live in this charming neighbourhood. There’s a lot to love about Manotick but let’s get down to the numbers!
Manotick Real Estate Trends
Manotick’s charm has been attracting more homebuyers in recent years, particularly after the pandemic, because of its small-town feel, large homes and lots, and its proximity to Downtown Ottawa. The demand for homes in this area has increased and with that comes increased house prices.
Manotick Real Estate Prices
The average sale price for a home in Manotick sits just under $1.2 Million as of October 2024, with year-to-date unit sales at 142, up 37.7% compared to last October (OREB).
Manotick saw drastic spikes in prices in 2020 and 2021 due to the lifestyle changes that came from the pandemic and work from home mandates. Buyers were looking for more space for their families and Manotick reaped the benefits of this trend. In 2020 and 2021, home prices increased by 27.5% and 24.2% compared to the previous year (see chart below).
While growth dipped back down in 2022 and 2023, we’re seeing more activity in this neighbourhood once again, and with increased transactions, we’ll likely see prices increase in Manotick before year end.
Overall, we’re predicting Manotick home prices to rise by the end of this year and continue on an upward trajectory into 2025.
House Prices By Neighbourhood: Westboro, ON
Westboro is one of Ottawa’s most sought after neighbourhoods since it blends a vibrant city feel with a true sense of community. Historically, Westboro has been a great neighbourhood for young professionals, young families and downsizers. But how do the numbers compare to other popular Ottawa neighbourhoods?
Westboro Real Estate Trends
Westboro has seen good growth over the past decade but this neighbourhood is limited in space. Unable to expand, Westboro has a mix of older homes and new-build infill properties and townhouses. This neighbourhood has also attracted multi-unit development, as it caters to young people and downsizers.
Westboro Real Estate Prices
As of October 2024, the average house price sits at just under $800,000, down 7.5% compared to October 2023 (OREB). Since 2022, we’ve seen housing prices fall slightly year over year in Westboro. However, this trend isn’t unique to this neighbourhood and is felt across many Canadian cities after the pandemic as interest rates rose and people were back to in person work.
Our take? Westboro, along with most markets, will bounce back over the next few years as we recover from the pandemic housing boom and as interest rates steadily lower. If you’re a first-time buyer, Westboro could be a great place to start your house search! We predict we’ll see price growth in this neighbourhood by 2025.
House Prices By Neighbourhood: Stittsville, ON
Stittsville is a great place for families looking for a little more space and that feel of rural living. It’s a great community that offers opportunities for new-build construction, larger plots of land and even some condo and townhouse options.
Stittsville Real Estate Trends
Stittsville has remained an attractive neighbourhood to buyers even through the post-pandemic real estate lull. This neighbourhood was one of the few that saw overall price growth in 2022 when the market was stagnant.
Stittsville Real Estate Prices
The average price of a home in Stittsville sat at about $780,000 as of October 2024, with 680 units sold year-to-date (OREB). With unit sales up 17.2% compared to the same period last year, we expect growth in this market to continue.
Even with the slight dip in price in 2023, we expect prices to be on the rise through 2024 and into 2025, and even 2026. This neighbourhood has a lot of potential and the space to expand. If you’re looking for a new-build opportunity in Ottawa, Stittsville might be the right fit for you!
House Prices By Neighbourhood: Barrhaven, ON
Barrhaven is one of the most sought after suburbs of Ottawa for many reasons, mainly its affordability in comparison to other communities. With easy access to Downtown Ottawa, Barrhaven is a very attractive neighbourhood for young professionals and growing families.
Barrhaven Real Estate Trends
Being that Barrhaven is one of the “newer” suburbs of Ottawa, it’s been able to sustain growth over the last few years. It offers many amenities that young families are looking for like outdoor space, parks, and good schools. This neighbourhood also has very diverse housing options with single-family, townhomes and condos available, it’s a great spot for first-time buyers to look for a home!
Barrhaven Real Estate Prices
As of October, the average sale price sits just above $670,000, a great price point for young buyers looking for a home. While prices have slightly dipped, unit sales are relatively high compared to other popular Ottawa neighbourhoods, reaching 1016 units sold year-to-date in October (OREB).
The average sale prices listed above include all home types and can fluctuate based on the types of homes sold.
With this neighbourhood being so high in demand and having the space to accommodate more housing, we think Barrhaven is a great investment. You’ll definitely reap the benefits of this growing suburb if you buy now.
Helpful Resources
If you want to do more research on potential neighbourhoods or want even more up to date price estimates, check out these resources:
- HouseSigma – here you can browse sales data and history to see what neighbourhood trends are happening in real time (you can download their app or access it online)
- Canadian Real Estate Association – CREA releases national and local statistics for Canadian real estate markets, this will give you a good overview of the Canadian real estate market
- Royal LePage – here you’ll find news releases including the Royal LePage Quarterly Market Survey Forecasts and helpful blog articles
Conclusion
When looking at the Ottawa market by specific neighbourhoods, you can get a better understanding of which will serve your needs the best. Overall, Ottawa is a stable market and investing in real estate here is typically a sound investment. However, knowing the numbers by neighbourhood and the unique trends that they follow can help you make an informed decision about where to invest your money.
Choosing the right neighbourhood ultimately depends on your priorities—whether it’s lifestyle, budget, or potential for appreciation. As interest rates stabilize and demand continues, these neighbourhoods are set to maintain their appeal and growth.
If you’re interested in diving deeper into the intricacies of Ottawa neighbourhoods, connect with our team! We’re here to help you on your real estate journey, no matter what neighbourhood!
