Real Estate in Ottawa has been a hot topic for some time now. Despite the industry’s sudden shutdown at the beginning of the pandemic, home sales picked up as soon as it was announced that the Real Estate industry was deemed an essential service. Since then, Ottawa residents have been fascinated as they watch homes …
How COVID-19 changed the face of Real Estate in Ottawa Read More »
Market Snapshot: A dramatic upswing in the number of sales this past month with sales within 2% of this time last year! While it didn’t come as a surprise that unit sales were down 55% in April, and 44% in May, in dramatic contrast the June figures are a welcome sign of things getting back …
Based on information released February 5, 2020 by the Ottawa Real Estate Board Average Sale Prices up over 19% in both Residential and Condominium Properties January’s average sale price for a condominium-class property was $338,077, an increase of 19.1 % from January 2019 January’s average sale price of a residential-class property was $516,229, an increase of 19.3 % from January 2019. Compared to last month, however, the average price for residential-class properties increased by a modest 3.2 % and the average price for condominium-class units was 8.8 % higher.* The Board’s Housing Price Index (HPI), which is another data point
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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
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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
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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
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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 early 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 the Ottawa condo market. Now that condo prices have bounced back, more sellers
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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
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Ottawa Real Estate Market update: August 2019 (September 5, 2019) If you’ve been following the Ottawa Real Estate market it probably won’t come as a surprise that both unit sales and prices were up last month, in spite of continuing issues with low supply. Heading into the fall months we don’t see any signs of our fast paced market slowing down. If you have any questions, we’re always here to chat! Market Highlights: Number of Sales: Total properties sold 1,731 compared with 1,581 in August 2018, an increase of 9.5 per cent. 1,300 in the residential-property class, up 9.7 per
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At Royal LePage Team Realty, we are thrilled to announce that we are the first major brokerage in Ottawa to offer a Virtual Office Website where users can now have access to more information than was ever possible before. The Terkuc Team has gone one step further and integrated this tool into our very own website to give our preferred clients access to recent listings AND sales data directly. With a simple click, and registration as a perferred client, you will now be able to access sold prices and other information on listings that have already sold. As a brokerage
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