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Jan 2022 – OTTAWA REAL ESTATE NEWS – Resale Market Normalizes and Breaks Records- HOMES FOR SALE IN OTTAWA

Author: John Kennedy
Categories: KANATA HOME PRICES,KANATA HOMES,KANATA HOMES FOR SALE,KANATA PROPERTIES,KANATA REAL ESTATE,KANATA REAL ESTATE NEWS,KANATA TOWNHOMES FOR SALE,Ottawa Condo Market News,Ottawa Condo Prices,Ottawa home listings,Ottawa homes and condos,Ottawa homes for sale,OTTAWA HOMES FOR SALE Mls,Ottawa Real Estate News,REAL ESTATE NEWS KANATA AND OTTAWA,Uncategorised

Ottaw Real Estate News Jan 2022

Ottawa Homes For Sale – Ottawa Real Estate News monthly – Ottawa Condos For Sale – Ottawa Home prices – Ottawa Real Estate Market prices – Ottawa Home Listings – Ottawa Condo Listings

Ottaw Real Estate News Jan 2022

Keeping You Informed about the Market regarding Values.

Professional Guidance each step of your transaction

OTTAWA, January 6, 2022 – Members of the Ottawa Real Estate Board sold 862 residential properties in December through the Board’s Multiple Listing Service® System, compared with 997 in December 2020, a decrease of 14 per cent. December’s sales included 601 in the residential-property class, down 15 per cent from a year ago, and 261 in the condominium-property category, a decrease of 10 per cent from December 2020. The five-year average for total unit sales in December is 809. “December’s resale market performed as it typically does with a marked decrease in sales from November as families turned their attention towards the holiday break. Although slightly above the five-year average, the number of properties exchanging hands was lower than the year before due to the atypical market we experienced in 2020 when peak market activity shifted to later in the year because of the initial spring pandemic lockdown,” states Debra Wright Ottawa Real Estate Board’s 2021 President. “However, while the market normalized in the latter part of the year, looking at the year-end figures, 2021 was still a record-breaking year,” she adds.

Ottawa Homes For Sale – Ottawa Real Estate News monthly – Ottawa Condos For Sale – Ottawa Home prices – Ottawa Real Estate Market prices – Ottawa Home Listings – Ottawa Condo Listings

 

The total number of residential and condo units sold throughout 2021 was 20,302, compared with 18,953 in 2020, increasing 7 per cent. Meanwhile, total sales volume in 2021 was approximately $13.1B compared to $10B in 2020.

“This significant increase in sales volume reflects the price acceleration that we have seen over the last year and correlates with average sale price increases for the city,” Wright elaborates.

“As we have reiterated for the past few years, Ottawa’s housing inventory challenges have been and will continue to place an upward pressure on prices. Reviewing the year-end figures for 2021, the average sale price year to date was $719,605 for residential-class properties and $419,683 for condominium units. These values represent a 24 per cent and 16 percent increase over 2020, respectively.”

The average sale price for a condominium- class property in December was $399,125, supply for a balanced market to be achieved,” cautions Wright.

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When asked for a forecast, Ottawa Real Estate Board’s new 2022 President Penny Torontow suggests, “January through March are usually slower months. With the macro factors that are currently at play in the resale market, it is difficult to predict what the effects will be going forward. We are entering yet another pandemic wave, Buyers are fatigued, parents are focusing on remote learning, interest rate hikes are looming – I don’t expect we will see the first quarter increases as we did in 2021.”

“We are unlikely to see the true outcome of these macro factors until the spring. Presumably, we will see more of the same with the market performing as well as it can with the current housing stock. Unfortunately for homebuyers, it will sustain itself as a Seller’s market for quite some time until our inventory issues are remedied. Whether you are buying or selling a home right now, the experience and knowledge of a REALTOR® is essential in this current challenging market,” Torontow concludes.

Ottawa Homes For Sale – Ottawa Real Estate News monthly – Ottawa Condos For Sale – Ottawa Home prices – Ottawa Real Estate Market prices – Ottawa Home Listings – Ottawa Condo Listings


OREB Members also assisted clients with renting 4,813 properties since the beginning of the year compared to 3,364 in 2020.* The Board 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 and conditions will vary from neighbourhood to neighbourhood. An increase of 12 per cent from 2020, and the average sale price for a residential-class property was $709,980, increasing 18 per cent from a year ago.*

“Six hundred new listings entered the housing stock in December, which represents a 58% decrease from November and down 15% from the 5-year average. At less than one month’s supply of units in both the residential and condominium property classes, we are firmly entrenched in a strong Seller’s market and will continue to be in this state until our inventory increases to a 3-4 month’s

Ottawa Homes For Sale – Ottawa Real Estate News monthly – Ottawa Condos For Sale – Ottawa Home prices – Ottawa Real Estate Market prices – Ottawa Home Listings – Ottawa Condo Listings –

Ottaw Real Estate News Jan 2022

Supply shows low.

Source: The Ottawa Real Estate Board

 


Ottawa Homes For Sale – Ottawa Real Estate News monthly – Ottawa Condos For Sale – Ottawa Home prices – Ottawa Real Estate Market prices – Ottawa Home Listings – Ottawa Condo Listings – Ottaw Real Estate News Jan 2022

Ottaw Real Estate News Jan 2022

Should you have any questions about what a property is currently worth. Call or Request my Free Property Evaluation at No Cost or Obligation to you.

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Ottawa Homes for Sale – Market update Nov 11, 2021 – Kanata Homes for Sale

Author: John Kennedy
Categories: KANATA BRIDLEWOOD HOMES FOR SALE,KANATA HOME PRICES,KANATA HOMES,KANATA HOMES FOR SALE,KANATA PROPERTIES,KANATA REAL ESTATE,KANATA REAL ESTATE NEWS,KANATA REMAX,KANATA TOWNHOMES FOR SALE,news,Ottawa Condo Market News,Ottawa Condo Prices,Ottawa home listings,Ottawa homes and condos,Ottawa homes for sale,OTTAWA HOMES FOR SALE Mls,Ottawa Real Estate News,REAL ESTATE NEWS KANATA AND OTTAWA

 

OTTAWA, November 3, 2021 Members of the Ottawa Real Estate Board sold 1,677 residential properties in October through the Board’s Multiple Listing Service® System, compared with 2,132 in October 2020, a decrease of 21 per cent. October’s sales included 1,263 in the residential-property class, down 24 per cent from a year ago, and 414 in the condominium property category, a decrease of 14 per cent from October 2020.

The five-year average for total unit sales in October is 1,605. “October’s resale market was active, busy, and stable – and followed the typical (pre-pandemic) ebb and flow that we commonly see as we enter the fall season,” states Ottawa Real Estate Board President Debra Wright. “The number of transactions increased slightly over September (1,607) as well as the 5-year average. The only reason we see a year-over year decrease in comparison to last October is because 2020’s sales peak had shifted from the spring months to September/ October due to the initial Covid-19 lockdown.”

 

The average sale price for a condominium-class property in October was $404,760, an increase of 10 per cent from 2020, while the average sale price for a residential
class property was $716,378, an increase of 19 per cent from a year ago. With year-to-date average sale prices at $720,150 for residential and $419,515 for condominiums, these values represent a 24 per cent and 16 percent increase over 2020, respectively.*“While the number of units sold followed the traditional trajectory, the lack of supply continues to put upward pressure on prices, which are holding strong and steadily increasing. Although there were 1,960 new listings in October, falling just under the 5-year average (1,974), it’s simply not enough. Inventory remains at a one-month supply for residential properties and 1.2 months for condominiums.

The only way we will find balance in Ottawa’s market is to increase the housing stock exponentially.”“Low inventory and a lack of suitable housing options restrict movement along the housing spectrum. Moveup buyers and downsizers have nowhere to go, so they stay in place, but we need that exchange of properties in the marketplace to free up supply for entry-level homebuyers,” Wright adds. “Additionally, we have noticed a substantial increase in the number of rental transactions through the MLS® System, which could suggest that some of the properties have been purchased or held on to for investment purposes. This active rental market may be another contributing factor as to why there aren’t more properties coming onto the market for sale.”
OREB Members assisted clients with renting 4,012 properties since the beginning of the year compared to 2,829 at this time last year. * The Board 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 and conditions will vary from neighbourhood to neighbourhood.

SOURCE” OREB

 

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OTTAWA Homes for Sale – 5TH AUG, 2021 – FULL REPORT ON THE OTTAWA REAL ESTATE MARKET – OTTAWA REAL ESTATE NEWS AUG 5TH 2021

Author: John Kennedy
Categories: KANATA HOME PRICES,KANATA HOMES,KANATA HOMES FOR SALE,KANATA PROPERTIES,KANATA REAL ESTATE,KANATA REAL ESTATE NEWS,KANATA TOWNHOMES FOR SALE,news,Ottawa Condo Market News,Ottawa Condo Prices,Ottawa home listings,Ottawa homes and condos,Ottawa homes for sale,OTTAWA HOMES FOR SALE Mls,Ottawa Real Estate News,REAL ESTATE NEWS KANATA AND OTTAWA,Uncategorised

 

 

The Market- knowing when to sell.

The Canadian  Real Estate Market – Prices are still up.

 

OTTAWA, August 5, 2021 – Members of the Ottawa Real Estate Board sold 1,724 residential properties in July through the Board’s Multiple Listing Service® System, compared with 2,183 in July 2020, a decrease of 21 per cent. July’s sales included 1,312 in the residential-property class, down 20 per cent from a year ago, and 412 in the condominium-property category, a decrease of 24 per cent from July 2020. The five-year average for total unit sales in July is 1,775. “July’s unit sales followed the traditional cycle of the spring and summer markets, which tend to peak around April or May and then slow down as Buyers and Sellers turn their attention to their vacations and other outdoor recreational activities,” states Ottawa Real Estate Board President Debra Wright. “This year’s figure is closer to 2019’s (1,838 sales) and just shy of the 5-year average, with the slight decline in transactions perhaps due to the combination of summer and the reopening of the economy last month. Certainly, the marked decrease from last year’s July sales is due to the spring 2020 lockdown, which had shifted the 2020 resale market’s peak to the summer and fall months,” she adds. July’s average sale price for a condominiumclass property was $419,545, an increase of 17 per cent from last year, while the average sale price for a residentialclass property was $685,426, also an increase of 17 per cent from a year ago. With year-to-date average sale prices at $728,107 for residential and $422,339 for condominiums, these values represent a 30 per cent and 20 percent increase over 2020, respectively.* “Following the same trend as sales, the month-to-month average prices decreased marginally by 4-6% compared to June; however, this minor dip is consistent to what typically happens during the summer months. Overall, average prices have increased considerably from 2020, and year-to-date values are holding steady. Still, Sellers will need to keep in mind that the multiple offer frenzy experienced previously is no longer the norm, and they may need to have more realistic expectations when positioning their homes and settling on a listing price with their REALTORS®.” “We are seeing the housing stock increasing with residential inventory up 19% and condominium supply 23% higher than 2020. Although there were 700 fewer listings than in June, the number of properties that entered the market in July is over the fiveyear average by approximately 114 units. Along with the price stabilizations, we hope this may indicate that Ottawa’s resale market is moving towards a more balanced state, which would be good for everyone,” suggests Wright. “Established in 1921, on July 9th, the Ottawa Real Estate Board commemorated 100 years of helping our neighbours, friends, and fellow residents buy and sell their homes, cottages and investment properties. Over the past century, our Board has advocated for affordable and attainable homes, as well as a range of housing options for seniors, first-time homebuyers and everyone in between. We pledge to continue this endeavour for our future clients in the years to come. On behalf of the Ottawa Real Estate Board and our 3,500 REALTOR® Members, I would like to extend my heartfelt gratitude to all of you who have put your trust in us to help you make your real estate dreams come true. We hope to continue to serve our communities for the next 100 years and beyond.” OREB Members also assisted clients with renting 2,706 properties since the beginning of the year compared to 1,883 at this time last year. * 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 neighborhoods’.

 

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The Question this week in Ottawa – Kanata real estate – Ottawa Real Estate News – March 13 2021 – Ottawa homes for Sale – Latest News in Ottawa Real Estate

Author: John Kennedy
Categories: Ottawa Condo Market News,Ottawa Condo Prices,Ottawa home listings,Ottawa homes and condos,Ottawa homes for sale,OTTAWA HOMES FOR SALE Mls,Ottawa Real Estate News

OTTAWA Homes for Sale – March 13, 2021

  • The Question this week in Kanata real estate – Ottawa real estate.

  • How can I make a lot of money in real estate?

    I received this question just the other day, and really  got taken by it. Yes I had the answer, but never really put it into these words. My simple answer to this young man was “ Start buying real estate early” you need to get into the market and stay in it. That way you learn and earn as you go.

  • The money trick to Real Estate “ How can I make a lot of money in real estate.. Answer is simple : (Time = value in Real Estate.) Kanata Real Estate and Ottawa Real Estate are now seeing +31% yearly since Feb 2021. I don’t think anyone can save such funds with a job, savings in a bank vs as in a property.

  • So if you are looking at buying a home, or a condo, or thinking of starting to invest in rental properties, in KANATA or OTTAWA real estate market. You should sit with me, so we can go over your options available.

  • My free 30 minutes advise session will give you the answers and will included a Free pdf booklet:

  • Step by step “Buying your first home” in Kanata or Ottawa.

  • 10 steps you should follow when investing in Real Estate and plan to retire at 55.

  • Step by step real estate investment guide.

  • Real estate getting started “ leveraging” and why this works.

  • No fees for buyers !

  • Have more questions in Kanata Real Estate or Ottawa Real Estate shoot me an email.

  • Your local Kanata and Ottawa homes for sale expert.

  • As Always: here to help, always talking Real estate, always loving real estate.

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Ottawa Real Estate News – Feb 16th 2021 – Ottawa homes for Sale – Latest News in Ottawa Real Estate

Author: John Kennedy
Categories: Ottawa Condo Market News,Ottawa Condo Prices,Ottawa homes and condos,OTTAWA HOMES FOR SALE Mls,Ottawa Real Estate News

Ottawa Real Estate News – Feb 16th 2021 – Ottawa homes for Sale – Latest News in Ottawa Real Estate – OTTAWA HOMES FOR SALE

Prices in Residential went up +31.2% from last January 2020 to January 2021…get the answers from me. Guidance Selling and Buying Real Estate.

 

 

 Source: Our Ottawa Real Estate board

REPORT:  Feb 16 2021

Average Prices and Changes

All Real Estate types of properties in Kanata -Ottawa-Orleans. See this next chart on what’s happening to Residential vs other types.

Price ranges Sold and yearly changes

 

We still have low inventory – it’s a great time to sell


My information and research is based on the CREA and OREB stats and charts for this month.

 

Pent-up Buyer Demand Drives January’s 2021 Resale Market!

OTTAWA, February 3, 2021 – Members of the Ottawa Real Estate Board sold 964 residential properties in January through the Board’s Multiple Listing Service® System, compared with 778 in January 2020, an increase of 24 per cent. January’s sales included 674 in the residential-property class, up 21 per cent from a year ago, and 290 in the condominium-property category, an increase of 31 per cent from January 2020. The five-year average for total unit sales in January is 786.
“Pent-up Buyer demand fueled the exceptional number of sales that took place in January even as the mid-month lockdown further restricted supply. Earlier in the month, listing activity increased, likely driven by those Sellers waiting until after the holiday season to put their properties on the market.

However, once the Stay-at-Home Order was announced, Sellers pulled back (rightfully so) and the number of properties entering the market declined,” states Ottawa Real Estate Board President Debra Wright.
“Even though inventory is up from last month, it is still down substantially from last year at this time with 43% fewer properties on the market. This inventory shortage coupled with strong demand triggered a brisk pace to the market. We would have certainly seen higher sales numbers if there were more properties available because the demand is definitely there.”

January’s average sale price for a condominium-class property was $380,336, an increase of 13 per cent from last year, while the average sale price of a residential-class property was $677,197, an increase of 31 per cent from a year ago. Compared to December, the average price for residential-class properties has increased by 12 per cent, and the average price for condominium-class units is 7 per cent higher.* range, while last year at this time, there were only 16 transactions. Sustained price movements are better reflected during the mid to latter part of the year, where trends begin to emerge, and comparisons can be drawn,” advises Wright. “This leads me into my next point – market activity has curtailed, there is no question about that, with January resale numbers lower than what we saw in December. But the effects of this second lockdown will not be entirely measurable until the coming months, dependent on when the mandated Stay- at-Home Order is retracted. If the lockdown is extended, that could affect the market in the longer term; however, as we saw last year, the market was resilient throughout and is being driven by the needs of Buyers and Sellers,” Wright concludes.

In addition to residential sales, OREB Members assisted clients with renting 333 properties in January 2021 compared with 243 in January 2020.
* The Board 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 and conditions will vary from neighbourhood to neighbourhood. “I would like to caution those looking at the increase in average prices this month and believing that property values are accelerating at an extreme pace. In January, there was considerable movement in the upper end of the market, which caused a bit of an anomalous outcome in average price percentages. For example, there were 63 sales in the $1M+ price

 

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