2020 February’s Resale Market Back in Overdrive
20 % UP OVER LAST YEAR – FEBRUARY BOARD REAL ESTATE REPORT.
OTTAWA HOME PRICES NEWS 10 TH MARCH 2020
OTTAWA AND KANATA HOMES FOR SALE
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Category: <span>REAL ESTATE NEWS KANATA AND OTTAWA</span>
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FREE HOME EVALUATION
OTTAWA REAL ESTATE NEWS 6 MARCH 2020
FREE HOME EVALUATION 6 MARCH 2020
KANATA HOMES FOR SALE –
OTTAWA HOMES FOR SALE
KANATA REAL ESTATE
OTTAWA REAL ESTATE
6 MARCH 2020
KANATA HOME PRICING –
OTTAWA HOME PRICING
6 MARCH 2020
KANATA MARCH 2020 SALE PRICES
OTTAWA MARCH 2020 SALE PRICES
6 MARCH 2020
KANATA REAL ESTATE AGENT
OTTAWA REAL ESTATE AGENT
6 MARCH 2020
KANATA CENTURY 21,
OTTAWA CENTURY 21,
6 MARCH 2020
KANATA BRIDLEWOOD HOME PRICES
6 MARCH 2020
KANATA BRIDLEWOOD HOMES FOR SALE
6 MARCH 2020
KANATA MLS – KANATA STREET SOLD PRICES
6 MARCH 2020
AVERAGE PRICE UP 19.3% – NOW IS GREAT TIME TO SELL.
RECEIVE A FREE HOME EVALUATION
OTTAWA, February 5, 2020 – Members of the Ottawa Real Estate Board sold 780 residential properties in January
through the Board’s Multiple Listing Service® System, compared with 817 in January 2019, a decrease of 4.5 per
cent. January’s sales included 558 in the residential-property class, down 8.4 per cent from a year ago, and 222 in
the condominium-property category, an increase of 6.7 per cent from January 2019. The five-year average for January
unit sales is 713. “2020 is off to a slower start as the shortage of inventory is now impacting market momentum,” states Ottawa Real Estate Board’s President Deborah Burgoyne. “Although we have higher sales than the five-year average, due to increased condo sales, the persistent supply challenges seem to have finally caught up with us. Furthermore, the number of new listings that came on the market in January (1,082) is well below the average (1,651).” “We don’t expect this trajectory to change anytime in the foreseeable future,” Burgoyne acknowledges. “The
supply chain needs to be buffered at all points along the continuum from first-time and move-up buyers, to downsizing
boomers as well as renters. They are all interconnected links in the housing chain.” January’s average sale price for a
condominium-class property was $338,077, an increase of 19.1 per cent from last year while the average sale price of a residential-class property was $516,229, an increase of 19.3 per cent from a year ago. Compared to last
month, however, the average price for residential-class properties increased by a modest 3.2 per cent and the average price for condominium-class units was 8.8 per cent higher.* The Board’s Housing Price Index (HPI), which is another data point of price trends based on the specific housing stock in neighbourhoods, indicates that the overall benchmark price for Ottawa has increased by approximately 13.75% from last year. The most active price range in the
condominium market was $200,000 to $349,999, accounting for 55 per cent of the units sold while $400,000 to $549,999 represented the most prevalent price point in the residential market, accounting for 40 per cent of January’s
Transactions. “The fact is Ottawa’s market has always been steadily increasing at a reasonable pace and is sustainable. If buyers are waiting for prices to decline, based on historical trends, it’s not likely,” Burgoyne cautions. “Although supply may pick up eventually—if you need to get into the market, don’t wait. It’s a challenging market for everyone. Hire a trusted professional to ensure you are protected and well informed in your home buying or selling transaction.” In addition to residential sales, OREB Members assisted clients with renting 243 properties in January 2020 compared with 169 in January 2019. * 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.
SEE FULL REPORTS ON IMAGES – CLICK ON THEM
FREE HOME EVALUATION 3 MARCH 2020
KANATA HOMES FOR SALE –
OTTAWA HOMES FOR SALE
KANATA REAL ESTATE
OTTAWA REAL ESTATE
3 MARCH 2020
KANATA HOME PRICING –
OTTAWA HOME PRICING
3 MARCH 2020
KANATA MARCH 2020 SALE PRICES
OTTAWA MARCH 2020 SALE PRICES
3 MARCH 2020
KANATA REAL ESTATE AGENT
OTTAWA REAL ESTATE AGENT
3 MARCH 2020
KANATA CENTURY 21,
OTTAWA CENTURY 21,
3 MARCH 2020
KANATA BRIDLEWOOD HOME PRICES
3 MARCH 2020
KANATA BRIDLEWOOD HOMES FOR SALE
3 MARCH 2020
KANATA MLS – KANATA STREET SOLD PRICES
3 MARCH 2020
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ALL DETAILS – CLICK FOR PHOTOS
FREE HOME EVALUATION 7 FEB 2020
KANATA HOMES FOR SALE
KANATA REAL ESTATE 7 FEB 2020
KANATA HOME PRICING 7 FEB 2020
KANATA FEB 2020 SALE PRICES 7 FEB 2020
KANATA REAL ESTATE AGENT 7 FEB 2020
KANATA CENTURY 21, 7 FEB 2020
KANATA BRIDLEWOOD HOME PRICES 7 FEB 2020.
KANATA BRIDLEWOOD HOMES FOR SALE 7 FEB 2020.
KANATA MLS – KANATA STREET SOLD PRICES 7 FEB 2020.
JUST SOLD IN BRIDLEWOOD KANATA
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BRIDLEWOOD KANATA HOME PRICES 5TH FEB 2020
FREE HOME EVALUATION 5 FEB 2020
KANATA HOMES FOR SALE
KANATA REAL ESTATE 5 FEB 2020
KANATA HOME PRICING 5 FEB 2020
KANATA FEB 2020 SALE PRICES 5 FEB 2020
KANATA REAL ESTATE AGENT 5 FEB 2020
KANATA CENTURY 21 5 FEB 2020
KANATA BRIDLEWOOD HOME PRICES 5 FEB 2020.
KANATA BRIDLEWOOD HOMES FOR SALE 5 FEB 2020.
KANATA MLS – KANATA STREET SOLD PRICES 5 FEB 2020.
Record-Breaking 2019 Closes Out Decade –
(see current stats here click)
From our OREB – REAL ESTATE BOARD OF OTTAWA
OTTAWA REAL ESTATE NEWS JAN 2020
OTTAWA, January 6, 2020 – Members of the Ottawa Real Estate Board (OREB) sold 761 residential properties in December
through the Board’s Multiple Listing Service® System, compared with 660 in December 2018, an increase of 15.3 per
cent. December’s sales included 534 in the residential property class, up 13.9 per cent from a year ago, and 227 in the
condominium property class, an increase of 18.8 per cent from December 2018. The five-year average for December unit
sales is 720. “December’s statistics reflect the same story we’ve seen all year – historically low supply yet higher unit sales than in
previous years. Days on market continued to decline, especially in certain pockets of the city, as properties that came on the
market were snapped up by prepared buyers,” states Dwight Delahunt, Ottawa Real Estate Board’s 2019 President.
“Unit sales in the condominium class consistently led the way, offering lower price point options for homebuyers that
simply weren’t available in the residential category,” he adds. The total number of residential and condo
units sold throughout 2019 was 18,622, compared with 17,467 in 2018, an increase of 6.6 per cent. Residential property class
sales went up by 4.7 per cent with 14,038 properties exchanging hands last year compared to 13,411 in 2018. Condominium property class
sales increased 13 per cent with 4,584 units sold in 2019 versus 4,056 in the previous year. “2019 was a record-breaker in both the
number of sales as well as average prices, with the residential property class reaching $500K in several months during the year.
This price growth is warranted due to the fundamental economic principle of supply and demand playing out, with
limited supply putting upward pressure on prices. However, even with these increases, Ottawa’s real estate market
continues to remain one of the most affordable and sustainable in the country,” Delahunt stresses.
December’s average sale price for a condominium-class property was $310,675, an increase of 11.5 per cent from
a year ago while the average sale price of a residential-class property was $500,306, an increase of 10.3 per cent from December 2018. Year-end figures show an average
sale price of $486,590 for residentialclass properties in 2019, an 8.9 per cent increase from 2018 and $304,203 for
condominium properties, up 9.3 per cent from last year.* OREB’s 2020 President, Deborah Burgoyne, forecasts Ottawa will continue to
experience limited supply and reasonably increasing average prices this year. “Supply issues will surely persist into
2020, and I don’t expect the inventory will be able to recover in the near future,” she suggests. “Builders do seem keen on constructing
luxury rental units, which is something we haven’t seen much of before. These could potentially add inventory to the residential
class, as boomers will have decent options if they are considering entering a different lifestyle than homeownership. However,
even if supply increases, high demand has shifted market values upwards in various neighbourhoods and prices are unlikely
to go back down – this is our new reality,” concludes Burgoyne. * 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.
OTTAWA REAL ESTATE NEWS JAN 2020
OTTAWA MLS LISTINGS JAN 29TH 2020
OTTAWA MLS CONDO LISTINGS JAN 29TH 2020
OTTAWA HOMES FOR SALE JAN 29TH 2020
OTTAWA CONDO FOR SALE JAN 29TH 2020
OTTAWA REAL ESTATE AGENT JAN 29TH 2020
OTTAWA REAL ESTATE PRICING JAN 29TH 2020
OTTAWA REAL ESTATE PRICES JAN 29TH 2020
OTTAWA REAL ESTATE HELP JAN 29TH 2020
OTTAWA NEWEST CONDO LISTINGS JAN 29TH 2020
KANATA REAL ESTATE NEWS JAN 2020
KANATA MLS LISTINGS JAN 29TH 2020
KANATA MLS CONDO LISTINGS JAN 29TH 2020
KANATA HOMES FOR SALE JAN 29TH 2020
KANATA CONDO FOR SALE JAN 29TH 2020
KANATA REAL ESTATE AGENT JAN 29TH 2020
KANATA REAL ESTATE PRICING JAN 29TH 2020
KANATA REAL ESTATE PRICES JAN 29TH 2020
KANATA REAL ESTATE HELP JAN 29TH 2020
KANATA NEWEST CONDO LISTINGS JAN 29TH 2020
| Market Analysis |
TOWNHOMES AVERAGE PRICES SOLD – DEC 2019
Status: Sold (19) DEC 2019 |
|||||||
| 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 |
|||||||
| 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 –
DETACHED HOMES DEC 2019 PRICES SOLD – WE ARE NOW SEEING PROPERTIES SELL OVER ASKING
DETACHED HOMES ARE NOW IN THE MID TO UPPER $550,000 PLUS
| 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:
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