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.
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“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.
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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.
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
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ASK FOR OUR FREE “PROPERTY REPORT ON VALUE AND COMPARABLE”.
February 2023 – Resale Market Starts Slow as Buyers Remain Cautious
February 2, 2023
Members of the Ottawa Real Estate Board (OREB) sold 606 residential properties in January through the Board’s Multiple Listing Service® (MLS®) System, compared with 933 in January 2022, a decrease of 35%. January’s sales included 460 in the freehold-property class, down 30% from a year ago, and 146 in the condominium-property category, a decrease of 47% from January 2022. The five-year average for total unit sales in January is 819.
“January’s marked slow down in unit sales over 2022 indicates potential home buyers are taking their time,” says OREB President Ken Dekker. “While last month saw the culmination of the succession of interest rate hikes announced by the Bank of Canada, affordability remains a factor. They may be waiting for a shift in listing prices. They’re being cautious in uncertain conditions.”
By the Numbers – Average Prices*:
The average sale price for a condominium-class property in January was $412,244, a decrease of 8% from 2022.
The average sale price for a freehold-class property was $676,272, decreasing 12% from a year ago.
“Despite the decrease in average prices, the market should not be considered on a downward slide,” says Dekker. “A hyper COVID-19 seller’s market is now leveling out to our current balanced market state.”
“On a positive note, in comparison to December’s figures, January’s average price of freehold properties increased by 3%. The average price of condos did fall by 5% compared to December but condo pricing tends to fluctuate more due to the small data set.”
By the Numbers – Inventory & New Listings:
Months of Inventory for the freehold-class properties has increased to 3.8 months from 0.9 months in January 2022.
Months of Inventory for condominium-class properties has increased to 3.8 months from 0.8 months in January 2022.
January’s new listings (1,324) were 16% higher than 2022 (1,142) and up 89% from December 2022 (699). The 5-year average for new listings in January is 1,233.
“Ottawa’s inventory and days on market figures are typical for a balanced market and another sign that buyers are no longer racing to put in an offer,” says Dekker. “The increase in new listings and supply is a boon for home buyers, who now have more selection and the ability to put in conditions at a less frantic pace. REALTORS® are an essential resource in finding the right property for the right buyer. On the other side of the transaction, REALTORS® can help sellers with hyper-local insights about how to sell in their neighbourhood at a time when pricing is key.”
More people are turning to REALTORS® for help renting properties — 509 this month compared to 410 in January 2022, an increase of 24%. “Even with the increase in housing stock, the tighter rental market is another indication that affordability is keeping some potential buyers on the sidelines.”
* 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.
Market Prices Sold and Changes
2022 AWARD WINNER FOR SALES AND CUSTOMER SATISFACTION
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The money trick to Real Estate “ How can I make a lot of money in real estate.. Answer is simple : (Time = valuein 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.
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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
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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13 OFFERS -30 SHOWINGS IN 6 DAYS – SOLD FIRM OVER ASKING PRICE
