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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
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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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KANATA and OTTAWA REAL ESTATE UPDATE 25 JAN 2021
Theses are the sold prices for 4 bedrooms DETACHED HOMES in all Ottawa. Average price shows $736,324. As you can see it’s still selling over the asking price a bit, and is based on the last 160 homes sold in Dec 2020.
DETACHED HOMES
Theses are the sold prices for 3 bedrooms DETACHED HOMES in all Ottawa. Average price shows $521,326. As you can see it’s still selling over the asking price and is based on the last 335 homes sold in Dec 2020
DETACHED HOMES
Theses are the sold prices for 3 bedrooms TOWN HOMES in all Ottawa. Average price shows $534,107. As you can see it’s still selling over the asking price and is based on the last 181 homes sold in Dec 2020
TOWNHOMES SOLD PRICES, not in condo property management.
Theses are the sold prices for 3 bedrooms TOWN HOMES with Condominium management in all Ottawa. Average price shows $344,665. As you can see it’s still selling over the asking price and is based on the last 81 homes sold in Dec 2020
TOWNHOMES SOLD PRICES, WITH CONDOMINIUM property management
Source : Ottawa Real Estate Board.
HOMES FOR SALE IN KANATA
HOMES FOR SALE IN OTTAWA
Ottawa Real Estate News Releases
Temperatures Cool, but Not Ottawa’s Resale Market
September 3, 2020
Members of the Ottawa Real Estate Board sold 2,017 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,725 in August 2019, a year over year increase of 17 per cent. August’s sales included 1,576 in the residential-property class, up 22 per cent from a year ago, and 441 in the condominium-property category, an increase of 2 per cent from August 2019. The five-year average for August unit sales is 1,668.
“August’s resale numbers were undoubtedly driven by the considerable increase in new listings that came onto the market in both July and August,” states Ottawa Real Estate Board President Deb Burgoyne. “There were at least 300 more residential and 175 more condo listings added to inventory than we saw last year at this time. In fact, we have not seen new listing numbers like this since August 2015,” she adds.
“The question that comes to mind is: what is propelling these new listings? Well, there are several contributing factors; there are Sellers that are ready to capitalize on their investments, there are those who may be moving into new builds or further out of the city, and let’s not forget boomers who are downsizing or perhaps moving into rentals.”
“Whatever their motivations, if the rate at which properties are coming onto the market can be sustained, it will surely bring some much-needed balance. For some time, as inventory comes on the market, it is quickly being absorbed. If this increased listing trend continues, at some point, the housing stock may finally build to a point that demand is going to be somewhat satiated,” Burgoyne proposes.
August’s average sale price for a condominium-class property was $383,640, an increase of 24 per cent from this time last year, while the average sale price of a residential-class property was $592,548, an increase of 22 per cent from a year ago. With year to date average sale prices at $566,291 for residential and $357,779 for condominiums, these values represent a 17 per cent and 19 percent increase over 2019, respectively. *
“A culmination of factors has been playing into the price increases in Ottawa’s resale market. Certainly, multiple offers are a dominant element. The reason that we have so many offers highlights the number of active buyers in the market – due to a variety of dynamics, such as record low mortgage rates, recently announced decreased debt/equity thresholds, migrating buyers coming from larger markets who may have received high returns on their home sales, etc. When you add these to the already pent-up demand from our local residents, it has created a perfect storm, so to speak.”
“This is an extremely challenging market for many, especially those on the buying side. Many are experiencing what we call ‘buyer burnout’, having placed many offers without success. We perceive a change in buyers behaviour regarding expectations, that were perhaps, until recently ‘hyped’, or a product of watching a myriad of home improvement shows and/or visiting new builder model homes. Our current reality is perhaps making some buyers more pragmatic and compromising on what they accept, whether it’s a home’s condition, age, or location,” Burgoyne suggests.
“What we need to be cognizant of is that Ottawa is a capital city and a growing city, that until now has been well-insulated when it comes to resale prices. If you look at other larger cities, they have gone through this already. We are just in the early stages, with no end in sight at this point. I suspect that prices are not going to come down, nor is activity going to slow down in the near future. Whether you are on the buying or selling side of a transaction, this is not the kind of market to navigate without guidance. An experienced REALTOR® will ensure Buyers are making strategic offers, and Sellers are not leaving money on the table.”
In addition to residential and condominium sales, OREB Members assisted clients with renting 2,232 properties since the beginning of the year compared to 1,906 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.
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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
FREE HOME EVALUATION 10 MARCH 2020
KANATA HOMES FOR SALE –
OTTAWA HOMES FOR SALE
KANATA REAL ESTATE
OTTAWA REAL ESTATE
10 MARCH 2020
KANATA HOME PRICING –
OTTAWA HOME PRICING
10 MARCH 2020
KANATA MARCH 2020 SALE PRICES
OTTAWA MARCH 2020 SALE PRICES
10 MARCH 2020
KANATA REAL ESTATE AGENT
OTTAWA REAL ESTATE AGENT
10 MARCH 2020
KANATA CENTURY 21,
OTTAWA CENTURY 21,
10 MARCH 2020
KANATA BRIDLEWOOD HOME PRICES
10 MARCH 2020
KANATA BRIDLEWOOD HOMES FOR SALE
10 MARCH 2020
KANATA MLS – KANATA STREET SOLD PRICES
10 MARCH 2020
FREEHOLD END UNIT ON POPULAR CRESCENT IN BRIDLEWOOD. BEAUTIFUL YARD WITH TREES AND DECK – EXTRA LARGE BRIGHT MASTERBDR WITH FULL ENSUITE BATH AND WALKIN CLOSET – 2 ADDITIONAL BEDROOMS WITH SEPRT 4 PC BATH ON 2 ND LEVEL AND 1 BEDRM IN BMT – LARGE KITCHEN WITH EAT-IN AND DINING AREAS – NEW HARDWOOD FLOORING ON MAIN FLOOR – WELL MAINTAINED – WOOD FIRE PLACE – SKYLIGHT ON UPPERFL – GARAGE ACCESS IN HOME – APRX 4 PARKING SPOTS – INCLUDES: STOVE, FRIDGE, DISHWASHER, WASHER AND DRYER – NO PETS, NO SMOKERS HERE! – MUST SEE SHOWS 10+
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
JUST SOLD IN BRIDLEWOOD KANATA
52 CEDAROCK DR
TOP PRICE SOLD ON THE STREET UP TO 5 FEB 2020.
Stunning Town-home on quiet street with all newer High-end interior finishes. Interior Designer Owner – 3 bedrooms, 3 bathrooms. Master bedroom with walkin closet, 3 pc en-suite – Hardwood throughout the home on all levels – Large widows – Well illuminated natural lighting – Kitchen facing south allowing for natural sun light. Marble counter tops, Stainless steel appliances included – Media family room, big screen projector size – This home is a 10++ show piece. Extremely well upgraded. The backyard offers an stunning full size Deck with existing furniture and BBQ included and a fountain stone designed pond. Including Washer and dryer, 3 Parking – Great neighborhood for families, Walk to school, Quite street. A MUST SEE! *Assoc/POTL fee $100 yearly, covers roadway maintenance.
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.
| 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 | |
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