M.O.R.E. Bloggin!

February Sales Jump; helped by a leap year

Sat, 05 Mar 2016 21:42:06 GMT

Members of the Ottawa Real Estate Board sold 911 residential properties in February through the Board's Multiple Listing Service® system, compared with 850 in February 2015, an increase of 7.2 per cent. The five-year average for February sales is 908.

"Although the weather was very unpredictable this month, with many highs and lows and several winter storms, the Ottawa resale market only saw activity pick up," says President of the Ottawa Real Estate Board, Shane Silva. "Residential and condo sales combined increased by 52.3 per cent since last month. However, we need to factor in the leap year, which added an extra day to the month of February, and 46 sales on that day."

February's sales included 199 in the condominium property class, and 712 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"In February, 2,312 homes were listed, up 26.6 per cent since January, and inventory on hand at the end of February rose by 10.7 per cent since January," says Silva. "We're starting to see more homes coming onto the market in preparation for the busy spring selling season. If you're thinking of putting your home on the market, this is a great time to do so."

The average sale price of a residential-class property sold in February in the Ottawa area was $384,632, an increase of 1.2 per cent over February 2015. The average sale price for a condominium-class property was $249,727, a decrease of 6.8 per cent over February 2015. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

"The highest concentration of properties sold continues to be in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 range," says Silva. "These price ranges continue to have the highest concentration of properties sold - residential and condo - while two-storey, bungalow, and one-level condos have the highest concentration of buyers. In addition to residential and condominium sales, OREB Members assisted clients with renting 414 properties since the beginning of the year."

Should you have questions about the June statistics, home values in your Ottawa neighbourhood, or would like more information about where you’d like to live, please contact me, I’d love to hear from you.

Mild weather & post-election enthusiasm

Sat, 05 Dec 2015 21:43:00 GMT

spurred on homebuyers in November as Realtors sold 990 residential properties, compared with 891 in November 2014, an increase of 11.1 per cent. The five-year average for November sales is 944.

"Mild temperatures in November, combined with increased activity post-election, were key factors in the Ottawa resale market performing exceptionally well in November," says David Oikle, President of the Ottawa Real Estate Board. "The positive increase in condo sales may be explained by buyers moving to Ottawa to accept positions with the new government. There may have also been some pent up demand of people who chose to sit on the sidelines until after the election was over."

November's sales included 199 in the condominium property class, and 791 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"The condo market has picked back up over the past few months - a very positive change from the first half of the year, and now year-to-date condo sales have surpassed the numbers of units sold in 2014," says Oikle. "Inventory levels are balancing out, cumulative days on market increased to 104 days, and average residential sale prices remain steady. This is very typical of a market that's heading into the winter season."

The average sale price of a residential-class property sold in November in the Ottawa area was $380,761, a decrease of 0.4 per cent over November 2014. The average sale price for a condominium-class property was $275,332, an increase of 9.9 per cent over November 2014 however the Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value.

"The highest concentration of properties sold remains in the $300,000 to $400,000 price range, followed very closely - behind by only 26 properties - the $200,000 to $300,000 range," says Oikle. "In addition to residential and condominium sales, OREB members assisted clients with renting 247 properties in November, and over 2,800 since the beginning of the year."

A typical summer resale market in Ottawa

Fri, 07 Aug 2015 14:05:21 GMT

Members of the Ottawa Real Estate Board sold 1,436 residential properties in July through the Board's Multiple Listing Service® system, compared with 1,440 in July 2014, a decrease of 0.3 per cent. The five-year average for July sales is 1,380.

"Last July was the second best on record, and this July was only four units short of that record, coming in well above the five-year average," says David Oikle, President of the Ottawa Real Estate Board. "Overall, the Ottawa resale market has been performing quite well with no major fluctuations in units sold and average sale price."

July's sales included 271 in the condominium property class, and 1,165 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"We are seeing a slight increase in condominium sales this month - a positive change," says Oikle. "The average cumulative days on market increased slightly to 78 days, compared to 74 last month. Inventory levels remain high, meaning we continue to be in a Buyer's market."

The average sale price of a residential-class property sold in July in the Ottawa area was $394,889, an increase of 4.5 per cent over July 2014. The average sale price for a condominium-class property was $255,102, a decrease of 2.6 per cent over July 2014. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

The $300,000 to $400,000 price range continues to have the highest concentration of properties sold, followed by the $200,000 to $300,000 range and then the $400,000 to $500,000 range. Two-storey residential properties continue to have the highest concentration of buyers in Ottawa. In addition to residential and condominium sales, OREB members assisted clients with renting 344 properties in July, and 1,829 since the beginning of the year.

June remains busy for Ottawa's Real Estate Market

Wed, 08 Jul 2015 14:26:25 GMT

Members of the Ottawa Real Estate Board sold 1,694 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,657 in June 2014, an increase of 2.2 per cent. The five-year average for June sales is 1,664.

“The Ottawa market is performing very well month-over-month and year-to-date compared to last year,” says David Oikle, President of the Ottawa Real Estate Board. “Year-to-date sales for the first half of 2015 are up 4.9 per cent over the first half of 2014, and average sale price continues to be steady for the first half of the year.”

June’s sales included 274 in the condominium property class, and 1,420 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Inventory levels at the end of the month remain healthy and on par with May levels, with average cumulative days on market keeping steady at 74 days,” says Oikle. “Properties continue to move consistently, and we look forward to this continuing into the second half of the year.”

The average sale price of a residential-class property sold in June in the Ottawa area was $404,254, an increase of 4.1 per cent over June 2014. The average sale price for a condominium-class property was $271,415, an increase of 5.1 per cent over June 2014. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

“The number of residential units sold in June increased in every price range from $350,000 and above, and the $300,000 to $400,000 price range continues to have the highest concentration of properties sold,” states Oikle. “In addition to residential and condominium sales, OREB members assisted clients with renting 330 properties in June; 1,485 since the beginning of the year.”

Ottawa's busy spring real estate market arrives in the March snow banks.

Wed, 08 Apr 2015 18:02:00 GMT

Members of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236.

"Sales increased month over month, with 356 more properties sold in March over February, a 41.8 per cent increase," says David Oikle, President of the Ottawa Real Estate Board. "Indications of a fast approaching spring market were noted in February, and these numbers are proof that Ottawa is indeed experiencing an upswing in sales."

March's sales included 228 in the condominium property class, and 980 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

"The average cumulative days on market came in at 83 for the month of March, lower than the average of 99 days in February and 119 days in January indicating that properties are starting to move faster as we enter the second quarter of 2015," explains Oikle. "Year-to-date sales for the first quarter of 2015 are 1.8 per cent higher than the first quarter of 2014. Average sales price has also increased, ever so slightly, by 0.8 per cent. So far, the 2015 resale market in Ottawa remains steady and strong."

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $361,572, an increase of 0.7 per cent over March 2014. The average sale price for a condominium-class property was $251,666, no change over March 2014. The average sale price of a residential-class property was $387,141, no change over March 2014. While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of all properties sold.

The hottest segments of our market in March were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 price range. Residential two-storey homes continue to be the highest sold property class, followed by bungalows and one-level condos. In addition to residential and condominium sales, OREB members assisted clients with renting 593 properties since the beginning of the year."

Should you have questions about the January statistics, home values in your Ottawa neighbourhood, or would like more information about where you’d like to live, please contact me, I’d love to hear from you.

Ottawa's 2015 Home Renovations Show

Wed, 21 Jan 2015 00:45:00 GMT

The Home Renovations Show runs this weekend, January 23 to 25th at the EY Centre. Here’s an opportunity to obtain discounted tickets. You may buy 2 tickets for $16 vs paying $24 at the door, a savings of $8. Simply use the link and promotion code below. Perhaps your looking to renovate or thinking about getting your home ready to sell, or know someone who is. This show is a great opportunity to learn about trends and maybe find the right supplier or contractor. Please feel free to share this post with friends and family or on Facebook, or Twitter.

Ticket offer for The Home Renovations Show

Password: OHR15PC

Enjoy the show!

OPEN HOUSE: Sun. Oct. 19th, 2 - 4 p.m.

Sat, 18 Oct 2014 23:31:00 GMT

Please visit our Open House at 232 West Village PR in Ottawa.

M.O.R.E. Bloggin!

February Sales Jump; helped by a leap year

Mild weather & post-election enthusiasm

A typical summer resale market in Ottawa

June remains busy for Ottawa's Real Estate Market

Ottawa's busy spring real estate market arrives in the March snow banks.

Ottawa's 2015 Home Renovations Show

OPEN HOUSE: Sun. Oct. 19th, 2 - 4 p.m.

OPEN HOUSE: SUN. Aug 31st 2-4pm

OPEN HOUSE: Sun. Aug. 17th 2-4pm

Another Ottawa Home Sold @ 2403 530 LAURIER AV in Ottawa

Another Hintonburg, Ottawa Home Sold @ 406 320 Parkdale AV in Ottawa

Another Riverside South; Gloucester Glen, Ottawa Home Sold @ 377 Royal Fern WA in Ottawa

Another Hunt Club Park/Greenboro, Ottawa Home Sold @ 144 Solera CI in Ottawa

April resale market slow to bloom

Open House on Sunday, March 23, 2014 2:00 PM - 4:00 PM

Open House on Sunday, March 23, 2014 2:00 PM - 4:00 PM Loft apartment in Wellington Village 1300 sq. feet

Open House on Sunday, February 23, 2014 2:00 PM - 4:00 PM

Open House on Sunday, February 9, 2014 2:00 PM - 4:00 PM 1,300 sf Corner Loft, close to Parkdale Market

Ottawa's resale market lands softly in January's deep freeze

Open House on Sunday, February 9, 2014 2:00 PM - 4:00 PM Loft 1,300 sq feet, close to Parkdale Market

Another Centre Town/Golden Triangle, Ottawa Home Sold @ 601 20 THE DRIVEWAY DR in OTTAWA

Open House on Sunday, January 19, 2014 2:00 PM - 4:00 PM

Open House on Sunday, November 17, 2013 2:00 PM - 4:00 PM

Another Mckellar/Highland, Ottawa Home Sold @ 510 EDISON AV in Ottawa

Open House on Sunday, October 6, 2013 2:00 PM - 4:00 PM

Another Carleton Square, Ottawa Home Sold @ 2504 1380 Prince of Wales DR in Ottawa

Open House on Sunday, September 8, 2013 2:00 PM - 4:00 PM

Another Carleton Square, Ottawa Home Sold @ 2504 1380 PRINCE OF WALES DR in Ottawa

Another Lower Town Home Sold @ 66 PARENT AV in Ottawa

Another Ottawa East, Ottawa Home Sold @ 47 EVELYN AV in Ottawa

Another Eastway Gardens/Industrial Park, Ottawa Home Sold @ 1480 MICHAEL ST in Ottawa

Open House on Sunday, July 14, 2013 2:00 PM - 4:00 PM

Open House on Sunday, June 23, 2013 2:00 PM - 4:00 PM

Another Ottawa Home Sold @ 301 95 BRONSON AV in Ottawa

Open House on Sunday, June 23, 2013 2:00 PM - 4:00 PM

Another Barrhaven/Strandherd Home Sold @ 395B CHAPMAN MILLS DR in Ottawa

Open House this Sunday, May 19th, 2:00-4:00PM

Open House on Saturday, May 18, 2013 2:00 PM - 4:00 PM

Open House on Sunday, May 12, 2013 2:00 PM - 4:00 PM

Spring Real Estate Market Finally Arrives in Ottawa

Ottawa's "Spring" Market Still Hibernating

CMHC Releases 1st Quarter Ontario Housing Outlook for 2013

New property listed in Barrhaven

Ottawa Condos Up, Residential Down - on continued lighter volume this January.

Free Tickets to The Home Renovations Show!

What Path will Ottawa Real Estate take in 2013?

A look back: Ottawa's Real Estate Market in December & 2012

A chilly November for Ottawa Real Estate sales

It's MOvember ... in Ottawa

"Trick or Treat" for Ottawa's real estate market in October?