
The Underlying is the average residential sale price reported by the Ottawa Real Estate Board in its monthly market release. The market will not use condominium average price, benchmark price, median price, detached-home-only price, annual average price, or any other housing price measure.
Monthly releases covering periods before this market’s Issuance will not count toward resolution, even if they report an average residential sale price below C$700,000. The market will resolve based on the first published Ottawa Real Estate Board figure for the relevant monthly report. Later revisions, corrections, or restatements will not affect resolution.