KANATA HOMES FOR SALE -KANATA HOME NEWS – KANATA HOME PRICES NEWS – KANATA MLS – KANATA TOWNHOMES FOR SALE – KANATA REAL ESTATE NEWS NOV 16TH, 2020.
November 16th 2020
We are seeing a seasonal cooling in the weather, yet the KANATA HOMES FOR SALE AND THE MARKET still looks strong. As you can see from this current prices HOMES SOLD IN KANATA chart for the KANATA PROPERTIES AND PRICES area. This home price chart covers all areas in KANATA homes detached, Townhomes and Condos. The trend is still up and steady in KANATA home prices, yes and still seems to be a Sellers market in KANATA HOMES.
So if you are planning on moving soon, and thinking of SELLING A HOME IN KANATA. We provide a full insight on the KANATA HOME PRICES DAILY. With my FREE KANATA HOME EVALUATION. You will receive all weekly sold prices report showing all sold and expired prices on your Street and on your type of home in KANATA. Ask for our HOME SALES AND SOLD PRICES REPORT if you are thinking of Selling or Buying.
And if you are looking at moving to a better home in KANATA, see our KANATA HOMES FOR SALE, please visit these links below..or below.
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Members of the Ottawa Real Estate Board sold 2,329 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,547 in September 2019, a year over year increase of 51 per cent. September’s sales included 1,759 in the residential property class, up 58 per cent from a year ago, and 570 in the condominium property category, an increase of 31 per cent from September 2019. The five-year average for September unit sales is 1,602. “The sheer volume of transactions in September, compared to a year ago, confirms the Ottawa resale market is continuing on its upward trajectory,” states Ottawa Real Estate Board President Deb Burgoyne. “The resale market in 2020, especially since the outset of the pandemic, has certainly not followed the usual spring and fall cycles we typically experience. This year has had its own distinct ebb and flow, and whether this momentum in our market will continue is difficult to predict.” “However, the continued increase in new listings and demand remaining strong allows us to be cautiously optimistic. September saw 2,165 residential properties and 744 condominiums enter the market. This is an increase of 32% and 45% respectively over last year at this time, and over 400 more new listings than came on the market in August,” adds Burgoyne.
September’s average sale price for a condominium-class property was $373,565, an increase of 21 per cent from this time last year, while the average sale price of a residential class property was $622,557, an increase of 28 per cent from a year ago. With year to date average sale prices at $575,506 for residential and $360,550 for condominiums,
these values represent a 19 per cent and 20 percent increase over 2019, respectively. * “While average prices in September hit an all-time high, the movement at the higher end of the market is
also likely driving this figure higher. September’s median prices, which is calculated removing the extreme upper and lower prices, do show more moderate price gains coming in at $570,000 for residential properties and $350,000 for condominiums,” Burgoyne acknowledges.
“Of course, the fundamentals of supply and demand remain at play, and our inventory shortage will continue to put Sellers in a position to capitalize on the current market. Additionally, the
dynamics of purchasing behaviour is shifting as Buyers become more tolerant of the condition of a property or its location, for example.” “But, we can’t exhale just yet. At the end of the day, REALTORS® represent both Buyers and Sellers, so a balanced market would be a welcomed relief for everyone. We would like to see both sides get over the finish line with a feeling of elation,
and that they have had a positive experience in their homeownership journey,” Burgoyne expresses. In addition to residential and condominium sales, OREB Members assisted clients with renting 2,536 properties since the beginning of the year compared to 2,117 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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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.
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
