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The Greater Ottawa condo price per square foot appreciated the fastest among the cities that were measured, rising 17.9 per cent year-over-year to $395, while the Greater Vancouver price actually declined the most by 8.3 per cent to $764.

“We are seeing significant interest in Ottawa’s south and west ends from residents working in the nearby military and technology hubs,” said Kent Browne, broker and owner of Royal LePage TEAM Realty.

The city of Vancouver remains the most expensive condo market in the country, with homebuyers paying $1,044 per square foot for a condo and $1,279 per square foot for a single-family detached home.

Greater Calgary offers the lowest condo price per square foot, with a fall of 6.7 per cent to $313.

“For the fourth consecutive month, condo inventory in the region declined compared to last year. It’s a good sign that the condo market may be stabilizing,” said Dawn Maser, a realtor for Royal LePage Benchmark.

“It is no wonder that the city vaulted to number four in The Economist’s ranking of the World’s Most Livable Cities,” said Soper.

The Greater Toronto price increased 9.1 per cent to $743, while the Greater Montreal area increased 10.3 per cent to $362.

Greater Montreal has the largest condos per square feet, with a median of 989, followed by Montreal at 944 and Greater Ottawa at 909 feet.

Royal LePage gathered the data for their report from the resale and new build transactions from Jan. 1 to July 31, compared to the same period from 2018.

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