| Market Analysis |
TOWNHOMES AVERAGE PRICES SOLD – DEC 2019
Status: Sold (19) DEC 2019 |
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| Beds | Baths | List Price | Sold Price | DOM | CDOM | ||
| Min | 2 | 2 | $368,000 | $340,000 | 2 | 2 | |
| Max | 5 | 4 | $624,900 | $600,000 | 72 | 72 | |
| Avg | 3 | 3 | $450,658 | $459,853 | 16 | 19 | |
| Median | 3 | 3 | $425,000 | $455,000 | 7 | 7 | |
| Market Analysis |
Status: Sold (8) DEC 2019 |
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| Beds | Baths | List Price | Sold Price | DOM | CDOM | ||
| Min | 3 | 2 | $300,000 | $350,000 | |||
| Max | 4 | 4 | $539,900 | $525,000 | 34 | 34 | |
| Avg | 3 | 3 | $430,950 | $448,375 | 12 | 12 | |
| Median | 3 | 3 | $474,000 | $491,000 | 8 | 8 | |
| Market Analysis |
KANATA ONLY –
| Status: Sold (17) IN DEC 2019 | |||||||
| Beds | Baths | List Price | Sold Price | DOM | CDOM | ||
| Min | 2 | 2 | $414,900 | $412,000 | |||
| Max | 5 | 4 | $699,000 | $690,000 | 26 | 53 | |
| Avg | 4 | 3 | $544,658 | $566,523 | 8 | 9 | |
| Median | 4 | 3 | $539,000 | $570,000 | 5 | 5 | |
From our Ottawa Real estate board:
CONDO NEWS DEC 2019 – OTTAWA, December 4, 2019 – 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 per cent. November’s sales included 958 in the residential-property class, up 10.5 per cent from a year ago, and 330 in the condominium-property category, an increase of 12.2 per cent 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,” explains Dwight Delahunt, President of the Ottawa Real Estate Board.
November’s average sale price for a condominium-class property was $313,734, an increase of 9.8 per cent from last year while the average sale price of a residential-class property was $501,201, an increase of 16.9 per cent from a year ago. Year to date figures show an 8.9 per cent and 9.1 per cent increase in average sale prices for residential and condominiums, respectively.*
“Prices have increased, and therefore there is shortage of units available in the lower end price range of both condos and residential properties,” reports Delahunt. “That being said, the Ottawa market still remains strong and
$749,999 range increased to 32 per cent of all residential resales.
“As for the higher end of the market, we are seeing substantial increases in the number of properties sold in those price ranges as well. In the $750K-$1M range, 65 units changed hands last month compared to 24 sales last year at this
time,” reveals Delahunt. “Further, the homes in the $1M+ plus range have increased to 29 sales last month from 15 sold in November 2018.”
“Year to date totals show the larger picture with a 41% increase in the $750K-$1M range from 610 to 861 unit sales, and a 30% increase in the $1M+ range from 266 to 345 transactions compared to this time last year,” he adds.
In addition to residential sales, OREB Members assisted clients with renting 2,559 properties since the beginning of the 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. sustainable with reasonable increases in year to date average prices of 9% in both the residential and condominium property classes.”
The most active price range in the condominium market was $225,000- $349,999, accounting for 57.5 per cent of the units sold while $350,000 to $499,999 represented the most prevalent price point in the residential market, accounting for 38.8 per cent of November’s transactions.
The Ottawa Real Estate Board is Ottawa’s largest trade association with over 3,150 sales representatives and brokers
see the details:
| Market Analysis – Bridlewood – KANATA- Stonemeadow Drive area
FEBRUARY 2019 UPDATE |
| Status: Sold (13) | |||||||
| Beds | Baths | List Price | Sold Price | DOM | |||
| Min | 2 | 2 | $429,000 | $400,000 | 7 | ||
| Max | 5 | 5 | $859,000 | $834,000 | 89 | ||
| Avg | 4 | 3 | $586,185 | $575,123 | 32 | ||
| Median | 3 | 3 | $649,900 | $639,500 | 16 | ||
Home Staging Tips and Tricks to Sell Your Home Fast
Boost curb appeal.
-This is something you always hear, and with very good reason you should add 1st on your to do list.
Welcome visitors with an inviting porch well decorated or Staged.
Get your house sparkling clean daily and for every showing.
Clear away all the clutter
Strike a balance between clean and lived-in
Style your dining room table
Take a good look at your floors
Pack all the smaller things that are going with you. Such as fridge magnets and photos.
Give the buyer a sense of more space.
Use Staging rental item to decorate the home.
Rearrange your furniture or Rent Staging pieces.
Consultation with our Stager about 30 days before you are ready to list.
Another Stellar Year for Ottawa’s Real Estate Market
OTTAWA, January 4, 2019 -Members of the Ottawa Real Estate Boardsold 663 residential properties in December through the Board’s Multiple Listing Service® System, compared with 765 in December 2017, a decrease of 13.3 per
cent. December’s sales included 471 in the residential property class, a drop of 15.7 per cent from a year ago, and 192 in the condominium property class, a decrease of 6.8 per cent from December 2017. Year to date activity increased by 2.4 per cent from 2017. The total number of residential and condo units sold throughout all of 2018 was 17,476, compared with 17,065 in 2017. Residential property class sales decreased slightly to 13,418 from 13,478 in 2017 and condominium property class sales were up 13.1 per cent with 4,058 units sold in 2018 versus 3,587 in the
previous year. “For the last decade, we have experienced steady growth in our real estate market from volume to prices; however, the past two years have jumped significantly in activity with a 12.6% increase in unit sales from 2016. Ottawa, and its surrounding area, has excellent employment numbers and has proven to be one of the most affordable larger cities in the country,” proclaims Ralph Shaw, Ottawa Real Estate Board’s 2018 President. “What has come to a head in 2018 is the overall shortage of inventory which is extreme in certain pockets of the city. While this has caused unit sales to slide in the residential market, it has fueled the condominium market which has recovered and carried us through much of 2018. We have been predicting this will bode well for new construction in delayed high-rise projects,” he adds. “Another significant factor affecting the market in 2018, and first-time homebuyersin particular, is the mortgage stress test – an attempt by the federal government to cool two major markets in the country. It has also unfortunately made move-up buyers less likely to take that step and free up entry-level options, which is an important part of the resale market,” Shaw points out. The average sale price of a residential-class property sold in December in the Ottawa area was $453,011, an increase of 4.7 per cent over December 2017.
The average sale price for a condominium-class property was $278,295, an increase of 9 per cent from this month last year. Year-end figures show an average sale price of $446,661 for residential-class properties in 2018, a 5.1 per cent increase from 2017 and $278,316 for condominium
properties, up 3.2 per cent from last year.* “In 2019, we expect the economic fundamentals of supply and demand to be at play with upward pressure on prices due to limited supply and increasing demand. Buyers do have affordable options in outlying communities if they are willing to commute –or they will simply have to pay more provided
they can qualify. New builds and purposebuilt rental housing could help ease some of the pressure, particularly if builders are able to provide a variety of quality options allowing for more movement in the market,”
Shaw concludes. The $300,000 to $449,999 range continues to represent the most active price point in the residential
market, accounting for nearly 45 per cent of December’s sales while almost one in four sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in the condominium market,accounting for 55.7 per cent of the units sold. Year-end figures echoed these dominating price points holding 45.6 per cent of the residential market and 49.8 of the condo market respectively. In addition to residential and
condominium sales, OREB Members assisted clients with renting 2,713 properties since the beginning of the year down from 2,977 from 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: ww.oreb.ca REAL ESTATE NEWS
