The rocky financial markets are yet to take a toll on the sale of luxury homes in the capital, according to a new report released by ReMax.
The study revealed 35 homes in Ottawa sold for more than $1 million in the first seven months of the year. The most expensive sale on MLS in 2008 went for $2.31 million.
The priciest home currently listed on the Ottawa market has an asking price of more than $4 million.
Although Rockcliffe continues to be the most coveted place to buy a high-end home, the report said real estate buyers are broadening their search to Rothwell Heights, Alta Vista, Mooney's Bay, the Glebe, Dow's Lake, Manotick, Chapel Hill and Rideau Shore.
The report said the high-end condo market is also doing well, with the highest condo sale this year valued at more than $1 million.
The real estate firm said Ottawa's sound economic base and diverse business sector helps the city maintain a strong market, which is expected to remain steady for the rest of the year.
