Real Estate Blog

Ottawa real estate stats 2019

Ottawa Real Estate Market Snapshot

Ottawa Real Estate Highlights December 2019 Record-Breaking 2019 Closes Out Decade Another record breaking year in both the number of sales & average prices! The average sale price of a residential property crept up over $500K during several months in 2019, with the annual average sale price settling at just below $490,000. As we head into 2020 we anticipate that the prices will continue to increase, however even then, the Ottawa area real estate market remains one of the most affordable major cities in Canada.                             Highlights from the Ottawa Real Estate Board January 6th , 2020 December’s UNIT SALES Members of the Ottawa Real Estate Board sold 761 residential properties in December through the Board’s Multiple Listing Service® System, compared with 1,161 in December 2018, an increase of 15.3  %. Residential: 534 Up 13.9 % from December 2018 Condo: 227 Up 18.8  % from December 2018....

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All I want for Christmas is a HOME

Buying a house is an exciting time, and whether you are just entering the market or you are a seasoned buyer ready for your next move, investing in real estate is a smart decision. To some, the Realtor App could be considered the Tinder of the Real Estate world, swiping past sub-par matches looking for the one who really might be worth the work. While looking at homes seems to be a logical first step, it may not. Some steps should be taken to ensure that you are prepared to be as competitive as possible when in a multiple offers situation.   Unfortunately, this reality is becoming more and more common, listing prices below market value as a pricing strategy. Buyers can become exhausted with the hassle that buying a home becomes when it turns into putting multiple offers on multiple homes, having hopes high only to be struck down for things that may have been avoidable. With the emotional toll this can take on a person, it is good to be aware of the challenges, and learn what you c...

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The Season of Giving – Gift Ideas for all the Homeowners in your Life

Coming up with gift ideas for the people in your life can be difficult sometimes.  We have put together a gift-giving guide for those people that have moved into a new home or a new condo.  Perhaps you are the one that has moved this year if so we included some ideas for little gifts for your new neighbours around the holiday season.   Homeowners Buying gifts for the new homeowners in your life can be an exciting gift to shop for and the possibilities can seem endless! Toasters, towels, and linens at every corner! If your homeowner hasn’t registered anywhere, the choices can easily make a fun experience feel like a nightmare. Here is your cheat sheet with the top 5 gifts to buy a new homeowner this holiday season. There is nothing like a Christmas Tree Ornament to commemorate a milestone in someone’s life. Welcome signs or front door mats are great ways to decorate the front door while the new occupants organize indoors. Monogrammed keychains Subscriptions to Netflix or CraveTV. ...

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Ottawa Real Estate Market Snapshot November 2019

Ottawa Real Estate Highlights November 2019 Weather isn’t Cooling the Resale Market!  Highlights from the Ottawa Real Estate Board December 4, 2019 UNIT SALES Members of the Ottawa Real Estate Board sold 1,288 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,161 in November 2018, an increase of 10.9 %. Residential: 958 Up 10.5 % from November 2018 Condo: 330 Up 12.2 % from November 2018. The five-year average for November unit sales is 1,133. “Even with the typical winter slowdown, Ottawa’s home resale market still experienced a relatively brisk pace in November. Our inventory is not having a chance to build as it is being absorbed as quickly as it comes on the market. That’s why there are so many sales every month even though the supply stock is low,” [President of the Ottawa Real Estate Board] AVERAGE SALE PRICE Condo: $313,734, an increase of 9.8 % from November 2018 Residential: $501,201, an increase of 16.9 % November 2018...

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Condo Living

Picking a Condo that Matches your Lifestyle

While many people once shied away from condominiums, today, this home-owners option is sought out by people of all ages and lifestyles. Condominiums are popping up in all neighbourhoods, with amenities that cater to the needs of people with all types of wants, needs, and abilities. Whether you are a working professional, young family, retiree, live an active lifestyle or require accessibility accommodations, appealing features offered by many of these condominiums are making this home-buyers option an appealing and competitive one. As with the growing market of condominium homeowners, the variety of notable features offered under the fees are growing as well. Condominiums are not just for retired downsizers anymore, they are built to meet the lifestyle needs of all different types of people at all different stages of life. Whether you are a young family looking for proximity to schools, transportation, and parks or recreational facilities, a working professional with minimal time for h...

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Ottawa Real Estate Snapshot:  October 2019 

Ottawa Real Estate Snapshot:  October 2019 Based on information from on the Ottawa Real Estate Board November 5th, 2019 Properties Sold Total properties sold: 1,607 an increase of 16.9% over October 2018 1,211 in the residential-property class, up 15% over October 2018 396 in the condominium-property category, up 23% over October 2018 The five-year average for October unit sales is 1,319. “New listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half,” reports President of the Ottawa Real Estate Board. “It’s perplexing at first; however, when you consider the current breakneck transaction pace in the Ottawa resale market, often requiring homebuyers and sellers to make swift decisions, it makes sense.” Properties are “flying off the shelves, so to speak.” –OREB President Days on Market Residential Average days on Market: 33 (from 43 in October 2018) down 23.3% Condominium Average days on Market: 28 (from 47 in Octob...

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Condo Living – Is it right for you?

After a few flat years, the Ottawa condo market started picking up steam in 2016 and continues to be a popular choice for Ottawa buyers today. Lower inventory levels and higher prices in the residential market have helped to increase activity in the condo property class.  According to the Ottawa Real Estate Board “September [2019] sales included 436 in the condominium-property category, an increase of 26.4 % from September 2018”.  There are many advantages to owning a condo, maintenance is a big one.  Typically, condo dwellers have little or no external maintenance.  Not only is there no grass to cut or snow to shovel, but for those who like to travel the only thing you have to worry about is making sure your door is locked.  Sound appealing?  Read on for some tips about things you’ll want to consider when purchasing a condo to live in, or as an investment. Where do I want to live? Start the selection process by deciding on the area of Ottawa that you would like to live in.  Some of t...

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First Time Home Buyer Incentive – Need a Little Help?

new homeowners hold up sign for their first new buy and excitement of new life stage while pregnant With the recent federal election  there has been a great deal of discussion around the Liberal Government’s incentive for First-time Home Buyers which was effective September 2, 2019.  The Government of Canada has allocated $1.25 billion over the next three years for this program.  The incentive is designed to help first-time home buyers find an affordable home.  Finding an affordable home has proven to be a challenge for first-time home buyers and especially younger Canadians.  The lack of inventory has affected the availability of affordable housing options. This has made the cost of housing as a percentage of gross income too high. It would be premature to determine the long term impact of the Incentive on the Ottawa Real Estate market. We are, however, very excited that first-time home buyers in our community will be getting some assistance in gaining entry to the very important home...

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What can we expect from the Fall Real Estate Market in Ottawa?

In Ottawa, we talk about the Spring market and the Fall market as being the two busiest seasons to buy and sell real estate in Ottawa.  Our Spring market started earlier this year and instead of slowing down over the Summer it continued to be strong throughout the Summer months.  Throughout the year we have seen consistent growth in both listing prices and sale prices.  In June, the Ottawa residential average sale price climbed over $500K for the first time ever!  There is also great news for condominiums. Now that condo prices have bounced back, more condo sellers are deciding to list to take advantage of the increased demand as buyers look for more affordable housing options. Will the strong summer month slow down the Fall season? We do not think that the market will slow down in the next few months. In fact, it is shaping up to be a busy Fall season.  The president of the Ottawa Real Estate Board, Dwight Delahunt recently said “Coming into the Fall months, which are typically busy...

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Is that House Haunted?

Stigma and Real Estate Would the fact that property is believed to be haunted affect your decision to purchase it?  If a property had been the location of an unspeakable act, would that change your opinion on it? Picture this, you’ve just found the home of your dreams and have put in an offer.  Of course you’ll want to make sure that there’s nothing wrong with the home before you firm up so who are you going to call? Ok, so it’s probably your home inspector and not the ghost-busters, however it may surprise you that according to a recent poll by Pollara 27% of Canadians believe in ghosts. In this, the spookiest month of the year, inspired by All Hallows’ Eve, we take a closer look at stigma and how you can protect yourself. Defects When selling a home, known physical defects must be disclosed by the listing agent. To give buyers confidence in the property they are purchasing, a home inspection is regularly ordered to ensure that there are no other physical defects unknown to all ...

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Having Your Home Listed Over the Holidays

If you are planning to sell your home in the next few months, it is wise to plan to maximize the sale of your home. As the temperatures are cooling and the days are getting shorter, we are starting to think of the coming fall and winter seasons.  We will also start to think of the many special holidays we will be celebrating in the next few months. The good news is that buyers who are looking over the holidays tend to be more serious.  We have put together some simple tips that will ease the pressure of having your home listed and ready to show over the holidays.  We will help you get through the chaos of the holiday season while making sure your home is ready to be found by its new owners.  Curb Appeal should be a top priority Before the snow arrives work with your REALTORⓇ to get the outside of your home photographed by a professional to ensure that the prospective buyers can clearly visualize the beautiful outside of your home. The same goes for the inside; stage it professionally a...

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Ottawa Real Estate September 2019

Ottawa Real Estate Update: September 2019

Ottawa Real Estate update September 2019 The fall real estate market in Ottawa is in full swing with strong numbers showing no signs of a slow-down in spite of the upcoming election. Condo prices have recovered (and are moving upward) in the Ottawa Real estate market and sellers are jumping back in to take advantage. Condo sales are up a whopping 26.4% over this time last year.  With days on the market continuing to drop in both the residential and condo market, it’s a time when buyers should be ready to act quickly and sellers can take advantage of historically low inventory. Thinking of jumping into the market? Message us anytime! The fall real estate market is in full swing with strong numbers showing no signs of a slow-down in spite of the upcoming election. Condo prices have recovered (and are moving upward) in the Ottawa Real estate market and sellers are jumping back in to take advantage. Condo sales are up a whopping 26.4% over this time last year.  With days on the market cont...

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