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Ottawa Listings of Home Sales Stable in November Amid Growing Supply – 2024 JAN OTTAWA REAL ESTATE NEWS

Ottawa Real Estate Prices for 2024: Prices are going up 1.6% on a year-over-year

The OREB MLS OF Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

  • The overall benchmark price was $628,900 in November 2023, nearly unchanged, up only 1.4% from November 2022.
    1. The benchmark price for single-family homes was $708,900, up 1.6% on a year-over-year.
    2. By comparison, the benchmark price for a townhouse was $492,300, nearly unchanged, up 0.8% compared to a year earlier.
    3. The benchmark apartment price was $424,300, up 1.2% from year-ago levels.
  • The average price of homes sold in November 2023 was $633,138, decreasing 0.8% from November 2022. The more comprehensive year-to-date average price was $669,536, a decline of 5.7% from 11 months of 2022.
  • The dollar value of all home sales in November 2023 was $458.4 million, down 2.4% from the same month in 2022.

OREB cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

 

LOW INVENTORY IN THE OTTAWA REAL ESATE MARKET JAN 2024

Still plague Market and causes prices to increase once again.

 

 

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Ottawa MLS – Home Sales Stable in November 2023 Amid Growing Supply – Jan 2024 Ottawa Real Estate News

The average price of homes sold in
November 2023 was $633,138, decreasing
0.8% from November 2022.

OTTAWA, December 5, 2023 – The number of
homes sold through the MLS® System of the
Ottawa Real Estate Board totaled 724 units in
November 2023. This was a small reduction of
1.6% from November 2022.
Home sales were 31.8% below the five-year
average and 27.4% below the 10-year average
for the month of November.
On a year-to-date basis, home sales totaled
11,421 units after 11 months of the year. This
was a large decline of 11.7% from the same
period in 2022.
“Sales are performing as expected with the
arrival of colder months, and an uptick in new
and active listings is bringing more choice back
into the market,” says OREB President Ken
Dekker. “While more choice may mean the pace
of buying and selling has slowed, that doesn’t
mean people looking to enter or upgrade in the
market should sit back. Prospective buyers or
those looking to upgrade have an opportunity
to collaborate with their REALTOR® to carefully
explore the market, identify the ideal property,
and negotiate an attractive deal at their
own pace. Sellers will have to manage their
expectations regarding the quantity of offers and
speed of transactions, and their REALTOR® is
the best resource to help them confidently price
and prepare their home for a quality sale.”
By the Numbers – Prices:
The MLS® Home Price Index (HPI) tracks price
trends far more accurately than is possible
using average or median price measures.

The overall MLS® HPI composite
benchmark price was $628,900 in
November 2023, a modest gain of 1.4%
from November 2022.
o The benchmark price for single-family
homes was $708,900, up 1.6% on a
year-over-year basis in November.
o By comparison, the benchmark price for
a townhouse/row unit was $492,300,
nearly unchanged, up 0.8% compared
to a year earlier.
o The benchmark apartment price was
$424,300, up 1.2% from year-ago
levels.

The average price of homes sold in
November 2023 was $633,138, decreasing
0.8% from November 2022. The more
comprehensive year-to-date average price
was $669,536, a decline of 5.7% from 11
months of 2022.

The dollar value of all home sales in
November 2023 was $458.4 million, down
2.4% from the same month in 2022.
OREB cautions that the average sale price
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 calculation of the
average sale price is based on the total dollar
volume of all properties sold. Price will vary from
neighbourhood to neighbourhood.
By the Numbers – Inventory & New Listings

The number of new listings saw a minor
increase of 2.7% from November 2022.
There were 1,428 new residential listings
in November 2023. New listings were 8.4%
above the five-year average and 10.4%
above the 10-year average for the month
of November.

Active residential listings numbered
2,752 units on the market at the end of
November, a sizable gain of 15.8% from
the end of November 2022. Active listings
haven’t been this high in the month of
November in more than five years.

Active listings were 53.9% above the five-
year average and 6.7% below the 10-year
average for the month of November.

Months of inventory numbered 3.8 at the
end of November 2023, up from the 3.2
months recorded at the end of November
2022 and above the long-run average
of 3.3 months for this time of year. The
number of months of inventory is the
number of months it would take to sell
current inventories at the current rate of
sales activity.

 

Sources : OREB -CREA

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Buying a Brand new home in Ottawa – Questions you should ask: Sept 2023

Buying a Brand new home Q and A.

Questions you should ask before Buying a Brand new home in Ottawa: Sept 2023

 

Builder Agreements should include details such as:

PDI – Date

Assignment clause: a must

Evaluation of home value (Appraisal – you should pay for one)

Deposit Structure: Can you get a better deposit structure

Mortgage approval – a must

Pre-approval – a must

Insurance clause – a must

 

Location:

Flooding topography

Hwy access

Hydro box green

Road T

SITE PLAN disclosure – commercial or other future development, check with the city

Backing on to graveyards or other

WHAT FUTURE DEVELOPMENT WILL HAPPEN AROUND THE HOME is very import to value

Shopping close

Schools

Bus stops

 

Structure:

Model

Sqft cost

List of actual finishes

Design

Floor plan

How long is your Tarion Warranty, and what is under warranty and for how long?

Upgrades list and value $

Builder Insurance coverage


(* for information only  – buyers need legal advice or to work with an agent)

 

 

Ottawa homes for sale

Kanata Homes for sale

Orleans homes for sale

Barrhaven homes for sale

 

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OTTAWA REAL ESTATE MARKET UPDATE – SEPT 20TH 2023 – HOMES FOR SALE IN OTTAWA -HOMES FOR SALE IN KANATA – HOME PRICES IN OTTAWA

September 20th, 2023

The average sale price for a freehold-class property in August 2023 was $709,739

Ottawa Resale Market Stalls in August, Supply Challenges Persist!

Low inventory, not enough listings.

Source: OREB

The Ottawa Real Estate Board reported that its members  sold 1,196 residential properties in August through the Board’s Multiple Listing Service® (MLS®) System data service, compared with 1,130 in August 2022, an increase of 6%. August’s sales included 903 in the freehold-property class, up 7% from a year ago, and 293 in the condominium-property category, a 2% increase from August 2022. The five-year average for total unit sales in August is 1,525.

Call today for free one-on-one market update on Buying or Selling a home.

“Ottawa Sales activity was up marginally on a year-over-year basis in August but remained well below the historical average for this time of year,” says Ken Dekker, OREB President. “There is no shortage of demand given increased immigration and the large Canadian population cohort entering the market. The lack of suitable, affordable housing is a hindrance. High borrowing costs and economic uncertainty are impacting both sellers and buyers, which we expect will continue to result in further market fluctuations.”

 

Ottawa Real Estate Average Prices*:

  • The average sale price for a freehold-class property in August was $709,739, an increase of 0.5% from 2022, and a 5.6% decrease over July 2023 prices.
  • The average sale price for a condominium-class property was $425,968 an increase of 1% from a year ago, although 1.4% lower than July 2023 prices.
  • With year-to-date average sale prices at $732,220 for freeholds and $432,571 for condos, these values represent an 8% decrease over 2022 for freehold-class properties and a 5.5% decrease for condominium-class properties.

 

Thank you for your trust!

Selling and Buying a home made easy!


Price changes: September  2023 report

Number of Sold properties by week. vs other years   2023 report

NUMBER OF HOME FOR SALE ARE LOWER THAN OTHER YEARS

 

AVERAGE SALE Price Changes: SEPT 2023 report

IT LOOKS LIKE 2022 AND 2023 HAVE THE SAME AVERAGE SALE PRICE

 

RESIDENTIAL Price Changes: September  2023 report

LOW NUMBER OF LISTINGS, LOW SALE VOLUME 2023

 

NEW LISTINGS are down this week – this means low inventory : SEPT 2023 report

IT LOOKS LIKE WE ARE STILL LOW ON LISTINGS

 

 

 

 

PRICES ARE MORE AFFORDABLE NOW AND MAY MOVING BACK UP IF INVENTORY STAYS LOW, ACCORDING TO THE OTTAWA REAL ESTATE BOARD, SEPT 2023 REPORT.

 


 

 


 

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WOODROFFE PROPERTY FOR SALE – Detached homes on WOODROFFE AVE OTTAWA

1155 WOODROFFE AVE OTTAWA FOR SALE

 

Have questions about REAL ESTATE PRICES IN OTTAWA

Request our free Property evaluation in Ottawa

click to see details:

 

4504 results | Page 1 of 376
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LOADING

For rent $2,250 Monthly
60 SPRINGHURST AVENUE UNIT#305, ottawa, Ontario

60 Springhurst Avenue Unit#305

Ottawa, Ontario

1 Bedroom 1 Bathroom
For sale $619,900
123 LARAMIE CRESCENT, ottawa, Ontario

123 Laramie Crescent

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,650 Monthly
1350 HEMLOCK ROAD UNIT#615, ottawa, Ontario

1350 Hemlock Road Unit#615

Ottawa, Ontario

2 Bedroom 2 Bathroom
For sale $686,400
822 TABARET STREET, ottawa, Ontario

822 Tabaret Street

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,700 Monthly
6417 LOIRE DRIVE, ottawa, Ontario

6417 Loire Drive

Ottawa, Ontario

3 Bedroom 3 Bathroom
For sale $1,299,000
1781 QUEENSDALE AVENUE, ottawa, Ontario

1781 Queensdale Avenue

Ottawa, Ontario

3 Bedroom 2 Bathroom
For sale $619,900
796 WINGATE DRIVE, ottawa, Ontario

796 Wingate Drive

Ottawa, Ontario

3 Bedroom 2 Bathroom
For rent $2,100 Monthly
101 RICHMOND STREET UNIT#421, ottawa, Ontario

101 Richmond Street Unit#421

Ottawa, Ontario

1 Bedroom 1 Bathroom
For rent $2,050 Monthly
235 KENT STREET UNIT#914, ottawa, Ontario

235 Kent Street Unit#914

Ottawa, Ontario

1 Bedroom 1 Bathroom
For rent $2,600 Monthly
39 BELLROCK DRIVE, ottawa, Ontario

39 Bellrock Drive

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,100 Monthly
200 RIDEAU STREET UNIT#1302, ottawa, Ontario

200 Rideau Street Unit#1302

Ottawa, Ontario

1 Bedroom 1 Bathroom
For sale $600,000
70 PINEGLEN CRESCENT, ottawa, Ontario

70 Pineglen Crescent

Ottawa, Ontario

3 Bedroom 1 Bathroom
Interested?
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Kanata Homes for Sale – Ottawa homes for Sale – All homes for sale in Kanata July 27th, 2023

July 27th, 2023

All homes available for sale in Kanata.

Searching for homes for sale in Kanata? Look no further than The KENNEDY Real Estate Team. With several years of experience in selling homes in Kanata. We have extensive knowledge about various models, builders, and neighbourhoods such as: Beaverbrook, Katimavik, Bridlewood, Kanata Lakes, Morgan’s Grant, Trail West, and Elmwood. 

In Kanata Ontario, there are several types of dwellings available: Single detached homes, row units townhouses, semi-detached homes, stacked townhouses, and apartments.

We are Currently seeking, 113 listings for sale in Kanata with an average price of approximately:

ALL JULY 2023  DETACHED HOMES AVERAGE PRICE $857,900.

Count on us to provide you with the true value. This free service will ensure you make an informed decision for your next home purchase in Kanata.

ASK FOR OUR FREE “PROPERTY REPORT ON VALUE AND COMPARABLE”.

Get all details – Copy/Paste MLS number here.

Search a Street, City, Province, RP Number or MLS® Number

 

All Kanata Home Listings on our IDX website.

ML# Address List Price Type Style Bds Bths
1349274 1016 TANGUAY CRT $339,900 2STOREY STACK 2 2
1346861 1006 TANGUAY CRT $349,900 2STOREY STACK 2 2
1347644 103 SALTER CRES $379,900 2STOREY ROW 3 2
1353521 239 PICKFORD DR $429,900 2STOREY ROW 3 2
1352685 21 BEST WAY $438,000 2STOREY ROW 3 3
1345297 2033 CAMPEAU DR $449,000 2STOREY STACK 2 2
1347915 300 TULUM CRES #H $485,000 1LEVEL STACK 2 1
1339787 310 TULUM CRES #C $499,900 OTHER STACK 2 2
1339789 310 TULUM CRES #B $499,900 OTHER STACK 2 2
1349944 106 KINCARDINE DR $516,000 2STOREY ROW 2 3
1344162 598 FOXLIGHT CIR $528,900 3STOREY ROW 2 3
1352430 373 HILLSBORO PVT $534,900 2STOREY ROW 3 3
1353245 21 STREAMBANK ST $539,900 3STOREY ROW 2 2
1351777 516 ABERFOYLE CIR $549,900 2STOREY ROW 3 2
1351967 1505 CAMPEAU DR $549,999 2STOREY STACK 2 3
1351412 14 MEADOWBREEZE DR $550,000 2STOREY ROW 3 3
1351319 29 STREAMBANK ST $558,000 3STOREY ROW 3 2
1352962 127 ATTWELL PVT $559,900 3STOREY ROW 2 3
1350428 161 ATTWELL PVT $569,000 3STOREY ROW 2 2
1338221 398 HILLSBORO PVT $569,900 2STOREY ROW 3 3
1350177 63 SPRINGCREEK CRES $575,000 2STOREY ROW 3 2
1351338 4 SUNNYBROOKE DR $575,000 2STOREY ROW 3 2
1351016 60 HELMSDALE DR $599,900 2STOREY ROW 3 3
1351828 833 TABARET ST $618,000 2STOREY ROW 3 3
1353591 586 BARRICK HILL RD $619,900 2STOREY ROW 3 3
1353394 1326 HALTON TERR $625,000 2STOREY ROW 3 3
1349339 738 OAKGLADE AVE $629,900 2STOREY ROW 3 3
1352422 220 FORESTBROOK ST $639,000 2STOREY ROW 3 3
1351156 94 SADDLESMITH CIR $639,000 2STOREY ROW 3 3
1352406 201 OPUS ST $649,900 2STOREY ROW 3 3
1352958 80 ROBARTS CRES $649,900 2STOREY ROW 3 4
1352924 276 MAXWELL BRIDGE RD $649,900 2STOREY ROW 3 3
1346702 30 HIGHMONT CRT $650,000 2STOREY SEMIDET 3 3
1353652 29 COURTNEY RD $654,900 BUNGLOW DETACH 4 2
1346498 218 HUNTERBROOK ST N $659,999 2STOREY ROW 3 3
1346233 100 PATRIOT PL $669,900 2STOREY ROW 3 3
1350846 560 PEPPERVILLE CRES $669,900 2STOREY ROW 3 3
1350828 120 SPRINGCREEK CRES $674,900 2STOREY DETACH 3 2
1340559 804 STAR PVT $684,900 3STOREY ROW 2 4
1343773 31 BACHMAN TERR $694,900 3STOREY ROW 2 4
1342872 58 BLACKDOME CRES $699,000 2STOREY ROW 3 2
1351794 7 CURRAN ST $699,000 2STOREY DETACH 3 2
1347144 80 GOLDRIDGE DR $699,900 2STOREY ROW 3 3
1350013 70 MERSEY AVE $699,900 2STOREY DETACH 3 3
1343158 27 BACHMAN TERR $704,900 3STOREY ROW 4 4
1345027 45 BACHMAN TERR $714,900 3STOREY ROW 3 3
1344899 110 MACASSA CIR $724,900 SPLIT ROW 3 3
1348075 51 WATERTHRUSH CRES $724,900 BUNGLOW SEMIDET 3 3
1333567 69 EQUESTRIAN DR $729,900 2STOREY DETACH 3 3
1344890 37 BACHMAN TERR $734,900 3STOREY ROW 4 4
1350053 993 KLONDIKE RD $735,000 2STOREY ROW 3 3
1339680 432 MEADOWBREEZE DR $739,900 2STOREY ROW 4 3
1349133 283 KINGHAVEN CRES $749,000 2STOREY ROW 3 4
1347577 95 VILLAGE GREEN $749,999 2STOREY DETACH 4 2
1345492 21 WESTMEATH CRES $757,000 2STOREY DETACH 3 3
1352433 2 SEWELL WAY $769,900 2STOREY DETACH 4 3
1348719 554 HITZLAY CRES $770,250 2STOREY ROW 3 3
1352974 66 MACASSA CIR $790,000 3STOREY ROW 2 3
1352026 42 FOULIS CRES $794,000 BUNGLOW ROW 3 3
1348104 4 TURNBULL AVE $799,900 2STOREY DETACH 3 3
1351607 26 FOXLEIGH CRES $799,900 2STOREY DETACH 4 4
1353089 33 SPUR AVE $799,900 2STOREY DETACH 4 4
1353349 58 BRIDLE PARK DR $799,900 2STOREY DETACH 4 3
1347391 182 OVERBERG WAY $809,900 2STOREY ROW 3 4
1352046 194 FLOWING CREEK CIR $829,900 2STOREY DETACH 4 4
1348237 65 CROWNRIDGE DR $839,900 2STOREY DETACH 3 3
1352949 24 RIVERGREEN CRES $839,900 2STOREY DETACH 3 3
1352972 140 BRIDGESTONE DR $849,900 2STOREY DETACH 4 3
1339798 819 PETRA PVT $850,000 3STOREY ROW 3 4
1352306 135 SOLARIS DR $855,000 2STOREY DETACH 4 4
1351387 441 TILLSONBURG ST $875,000 2STOREY DETACH 3 3
1350782 122 WHERNSIDE TERR $885,000 2STOREY DETACH 4 4
1353183 2 BRADLEY FARM CRT $899,900 2STOREY DETACH 4 4
1346499 4 BRADLEY FARM CRT $899,999 2STOREY DETACH 6 4
1348913 26 PELLAN CRES N $936,000 2STOREY DETACH 4 3
1348723 15 RUTHERFORD CRES $945,000 2STOREY DETACH 4 3
1346322 803 OAKSIDE CRES $959,000 2STOREY DETACH 5 4
1348720 360 ABBEYDALE CIR $969,900 2STOREY DETACH 4 3
1346305 614 BRIDLEGLEN CRES $979,990 2STOREY DETACH 3 3
1330947 27 SOLARIS DR $989,900 2STOREY DETACH 4 4
1350083 19 RUTHERFORD CRES $989,900 2STOREY DETACH 4 4
1342008 42 STONECROFT TERR $998,000 BUNGLOW DETACH 4 3
1346782 178 GYRFALCON CRES $999,000 2STOREY DETACH 5 4
1347064 11 TURTLE POINT PVT $999,000 BGWL ROW 4 4
1347484 2004 ALLEGRINI TERR $999,900 2STOREY DETACH 4 3
1343628 343 SUGAR PINE CRES $1,029,000 2STOREY DETACH 3 3
1350372 10 JARLAN TERR $1,039,000 2STOREY DETACH 4 3
1346589 11 MENDOZA WAY $1,049,000 2STOREY DETACH 4 3
1352264 328 LAUGHLIN CIR $1,050,000 2STOREY DETACH 4 3
1345277 8 EVANSHEN CRES $1,100,000 2STOREY DETACH 4 3
1350338 26 VARLEY DR $1,150,000 2STOREY DETACH 4 3
1349314 9 ROSETHORN WAY $1,188,800 2STOREY DETACH 5 4
1345120 138 STEEPLE CHASE DR $1,199,900 2STOREY DETACH 4 4
1350186 36 ROSENFELD CRES $1,225,000 2STOREY DETACH 4 4
1340309 123 GRAINSTONE WAY $1,299,900 2STOREY DETACH 4 4
1350133 50 OSPREY CRES $1,299,900 2STOREY DETACH 8 5
1345061 28 GREENSAND PL $1,300,000 2STOREY DETACH 4 4
1343176 396 HUNTSVILLE DR $1,349,000 2STOREY DETACH 4 4
1344490 250 KETCHIKAN CRES $1,395,800 2STOREY DETACH 4 4
1346597 55 IRONSIDE CRT $1,399,000 2STOREY DETACH 4 3
1350049 523 BRECCIA HTS $1,399,000 2STOREY DETACH 4 5
1350623 139 INGERSOLL CRES $1,424,900 2STOREY DETACH 5 3
1345728 348 ABBEYDALE CIR $1,450,000 2STOREY DETACH 5 5
1352289 60 ROSENFELD CRES $1,495,000 2STOREY DETACH 4 4
1352517 15 KANATA ROCKERIES PVT $1,495,000 2STOREY DETACH 4 5
1352529 65 IRONSIDE CRT $1,499,000 2STOREY DETACH 5 3
1345689 1098 BLANDING ST $1,539,000 2STOREY DETACH 4 5
1347414 525 BRECCIA HTS $1,548,000 2STOREY DETACH 5 5
1349077 44 IRONSIDE CRT $1,625,000 2STOREY DETACH 4 4
1351597 3 GOULDING CRES $1,685,000 2STOREY DETACH 4 3
1349776 65 WALDEN DR $1,750,000 2STOREY DETACH 6 5

Homes for sale in Kanata – Homes for sale in Ottawa

 

 

Count on us to provide you with the true value. This free service will ensure you make an informed decision for your next home purchase in Kanata.

ASK FOR OUR FREE “PROPERTY REPORT ON VALUE AND COMPARABLE”.

 

4504 results | Page 1 of 376
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LOADING

For rent $2,250 Monthly
60 SPRINGHURST AVENUE UNIT#305, ottawa, Ontario

60 Springhurst Avenue Unit#305

Ottawa, Ontario

1 Bedroom 1 Bathroom
For sale $619,900
123 LARAMIE CRESCENT, ottawa, Ontario

123 Laramie Crescent

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,650 Monthly
1350 HEMLOCK ROAD UNIT#615, ottawa, Ontario

1350 Hemlock Road Unit#615

Ottawa, Ontario

2 Bedroom 2 Bathroom
For sale $686,400
822 TABARET STREET, ottawa, Ontario

822 Tabaret Street

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,700 Monthly
6417 LOIRE DRIVE, ottawa, Ontario

6417 Loire Drive

Ottawa, Ontario

3 Bedroom 3 Bathroom
For sale $1,299,000
1781 QUEENSDALE AVENUE, ottawa, Ontario

1781 Queensdale Avenue

Ottawa, Ontario

3 Bedroom 2 Bathroom
For sale $619,900
796 WINGATE DRIVE, ottawa, Ontario

796 Wingate Drive

Ottawa, Ontario

3 Bedroom 2 Bathroom
For rent $2,100 Monthly
101 RICHMOND STREET UNIT#421, ottawa, Ontario

101 Richmond Street Unit#421

Ottawa, Ontario

1 Bedroom 1 Bathroom
For rent $2,050 Monthly
235 KENT STREET UNIT#914, ottawa, Ontario

235 Kent Street Unit#914

Ottawa, Ontario

1 Bedroom 1 Bathroom
For rent $2,600 Monthly
39 BELLROCK DRIVE, ottawa, Ontario

39 Bellrock Drive

Ottawa, Ontario

3 Bedroom 3 Bathroom
For rent $2,100 Monthly
200 RIDEAU STREET UNIT#1302, ottawa, Ontario

200 Rideau Street Unit#1302

Ottawa, Ontario

1 Bedroom 1 Bathroom
For sale $600,000
70 PINEGLEN CRESCENT, ottawa, Ontario

70 Pineglen Crescent

Ottawa, Ontario

3 Bedroom 1 Bathroom
Interested?
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OTTAWA REAL ESTATE MARKET UPDATE – MAY 2023 – HOMES FOR SALE IN OTTAWA -HOMES FOR SALE IN KANATA – HOME PRICES IN OTTAWA

MAY 3, 2023

Resale Market Springs Back in Favour of Sellers

Average prices have increased by 13.9% in four months!

Low inventory, not enough listings.

Source: OREB

May 2023, Ottawa Real estate Market update.

NUMBERS SOLD: The members Ottawa Real Estate Board (OREB) sold 1,488 residential properties in April through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,876 in April 2022, a decrease of 21%.

SALES NUMBERS DOWN: Sales included 1,156 in the freehold-property class, down 18% from a year ago, and 332 in the condominium-property category, a decrease of 29% from April 2022. The five-year average for total unit sales in April is 1,739.

RESALE UPWARD TREND: “Ottawa’s resale market is on a steady upward trajectory, narrowing the comparison gap to peak pandemic activity in 2022.

LOW INVENTORY – NOT ENOUGH NEW LISTINGS: New listings not keeping pace, the available housing stock is declining, and with less than two months of inventory — “we’re back into seller’s market territory,” says Ottawa Real Estate Board President Ken Dekker.

By the Numbers – Average Prices*:

  • Average prices have increased by 13.9% in four months since the market low in December 2022.

  • The average sale price for a freehold-class property in April 2023 was $747,123, a decrease of 10% from 2022. However, it marks a 5% increase over March 2023.
  • The average sale price for a condominium-class property was $435,875, decreasing 8% from a year ago, but still a 4% gain over March 2023.
  • With year-to-date average sale prices at $718,633 for freeholds and $421,722 for condos, these values represent a 13% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

Upward pressure on sales prices continues with average prices increasing for the fourth month since the market low in December.

MULTIPLE OFFERS: Additionally, multiple offer situations have returned to certain neighbourhoods and overall days on market are maintaining their downward trend. There continues to be low inventory in certain property classes and new product is coming to the market at a slower rate, which is affecting supply.”

By the Numbers – Inventory & New Listings:

  • April’s new listings (2,144) were 25% lower than April 2022 (2,843) and up 3% from March 2023 (2,089). The 5-year average for new listings in April is 2,575.
  • Months of Inventory for the freehold-class properties has increased to 1.9 months from 0.9 months in April 2022 but down from 2.3 months in March.
  • Months of Inventory for condominium-class properties has increased to 1.9 months from 0.8 months in April 2022, although down from 2.1 months in March.
  • Days on market (DOM) for freeholds decreased from 34 to 27 days and 39 to 33 days for condos compared to last month.

“These numbers are static, snapshots in time. REALTORS® can give buyers and sellers a fulsome day-to-day picture of how the market is shifting and heating up this season. They have their fingers on the pulse of each neighbourhood in the city and can help buyers and sellers make localized, strategic, data-informed decisions.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 2,151 properties compared to 1,786 last year at this time, an increase of 20%.

* OREB cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

Call today for free one-on-one market update on Buying or Selling a home.


 

Thank you for your trust!

Selling and Buying a home made easy!


Price changes: May 2023 report

 

Price Range Sales volume: May 2023 report

 

CONDOS Price Changes: May 2023 report

 

RESIDENTIAL Price Changes: May 2023 report

 

NEW LISTINGS are down this week – this means low inventory : May 2023 report

When inventory is low, prices go up. Look at the light blue line, slowly moving upwards, as we get more listings on the MLS market, but not as 2022 volume.

660 listed properties this week, compared to 2022 of 800-1000 listings range.

Low supply means only one thing…prices go up!

 

RESIDENTIAL AND CONDO Price Changes: May 2023 report

Look at the light blue line, slowly moving upwards in Sale Prices.

 

PRICES ARE MOVING BACK UP ACCORDING TO THE OTTAWA REAL ESTATE BOARD, MAY 2023 REPORT.

 


THESE ARE SOME OF THE 

MORTGAGE RATE I’M SEEING, MAY 2023 REPORT.



 

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Residential in Ottawa Real Estate shows -15% Down from last year Average price – Ottawa Homes for Sale – Kanata homes for sale – Barrhaven homes for sale

Residential in Ottawa Real Estate shows -15% Down from last year Average price – However, it marks a 5% increase over January 2023.

Resale Market Stabilizes in February with a Glimmer of Hope for Buyers and Sellers Alike!

OREB NEWS

March 3, 2023

Members of the Ottawa Real Estate Board (OREB) sold 855 residential properties in February through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,411 in February 2022, a decrease of 39%. February’s sales included 633 in the freehold-property class, down 42% from a year ago, and 222 in the condominium-property category, a decrease of 31% from February 2022. The five-year average for total unit sales in February is 1,157.

“We’re going to see declines in transactions and prices when we compare current figures to last February — the height of the pandemic resale market activity,” says Ottawa Real Estate Board’s President Ken Dekker. “On the other hand, with the Bank of Canada holding interest rates steady, prospective buyers have more budget certainty to work with as we head into the spring market.”

By the Numbers – Average Prices*:

  • The average sale price for a freehold-class property in February was $708,968, a decrease of 15% from 2022. However, it marks a 5% increase over January 2023.
  • The average sale price for a condominium-class property was $410,927, decreasing 12% from a year ago.
  • With year-to-date average sale prices at $695,086 for freeholds and $411,449 for condos, these values represent a 14% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

“The average price increase for freeholds over January could be an indicator that buyers have normalized to the current interest rates. And perhaps, it’s a glimmer of more activity to come in the months ahead.”

By the Numbers – Inventory & New Listings:

  • Months of Inventory for the freehold-class properties has increased to 2.8 months from 0.7 months in February 2022.
  • Months of Inventory for condominium-class properties has increased to 2.5 months from 0.7 months in February 2022.
  • February’s new listings (1,366) were 22% lower than February 2022 (1,762) and up 3% from January 2023 (1,323). The 5-year average for new listings in February is 1,632.
  • Days on market (DOM) for freeholds decreased from 43 to 37 days and 47 to 43 days for condos compared to last month.

“A decrease in the days on market, paired with fewer new listings entering the market, is good news for sellers,” says Dekker. “However, if that trend continues to impact our supply stock and we don’t get more inventory, our otherwise balanced market could swing back into seller’s territory — but it’s too early to predict.”

“The best advice for sellers and buyers in today’s market is to pay close attention to the comparison and competition insights only a REALTOR® can offer. Ottawa is made up of many micro-markets, and neighbourhood-level data is vital to standing out and closing deals.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 995 properties compared to 800 last year at this time, an increase of 24%.

 

 

Details:

Average Sale Price February 2023= from $708,172 down to $620,088 (-12.4% down)

Quantity of sales: 2471 down to 1513 in Feb 2023 (-38% down)

CDOM= Re-listed : Days on Market from 27 to 69 days ( more days on market:  +42 days)

DOM= Days on Market – from 19 days TO 44 days longer in 2023 ( more days on market:  +25 days)