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Ottawa Listings of Home Sales Stable in November Amid Growing Supply – 2024 JAN OTTAWA REAL ESTATE NEWS

Ottawa Real Estate Prices for 2024: Prices are going up 1.6% on a year-over-year

The OREB MLS OF Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.

  • The overall benchmark price was $628,900 in November 2023, nearly unchanged, up only 1.4% from November 2022.
    1. The benchmark price for single-family homes was $708,900, up 1.6% on a year-over-year.
    2. By comparison, the benchmark price for a townhouse was $492,300, nearly unchanged, up 0.8% compared to a year earlier.
    3. The benchmark apartment price was $424,300, up 1.2% from year-ago levels.
  • The average price of homes sold in November 2023 was $633,138, decreasing 0.8% from November 2022. The more comprehensive year-to-date average price was $669,536, a decline of 5.7% from 11 months of 2022.
  • The dollar value of all home sales in November 2023 was $458.4 million, down 2.4% from the same month in 2022.

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.

 

LOW INVENTORY IN THE OTTAWA REAL ESATE MARKET JAN 2024

Still plague Market and causes prices to increase once again.

 

 

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WOODROFFE PROPERTY FOR SALE – Detached homes on WOODROFFE AVE OTTAWA

1155 WOODROFFE AVE OTTAWA FOR SALE

 

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For sale
$779,900
53 SUMMITVIEW DRIVE, ottawa, Ontario

53 Summitview Drive

Ottawa, Ontario

Come see this charming 3 bed, 3 bath + loft detached home that features a modern sophisticated open concept with great finishes. The moment you step into this lovely home you sense the attention & care. Welcoming front foyer opens up to the dining room, a cozy living room w a gas fireplace dressed w solid hardwood flooring & contemporary kitchen with SS appliances including a gas stove, granite countertops, breakfast bar and walk-in pantry. 2nd floor features a large loft perfect for home office or a family room. Anchored by a superb master retreat feature his & her walk-in closets & an ensuite which is sure to please the most discerning taste. Two additional spacious bedrooms and a second 4 piece bathroom. The lower level offers a finished basement. Patio doors leading off to backyard is fenced and perfect for family barbecues. Simply a superb home set on perfect family street, located just steps from Park, trails & quality schools! Quiet yet well serviced, this home has it all! (id:35885)

3 Bedroom 3 Bathroom
For sale
$654,900
512 HYSSOP STREET, ottawa, Ontario

512 Hyssop Street

Ottawa, Ontario

Welcome to 512 Hyssop! Stunning 4 beds, 2.5 Baths MINTO end-unit townhouse in Avalon West. Is an exceptionally modern design and features a stylishkitchen w/plenty of upgrades, granite countertop throughout, cabinetry and stainless steel appliances, bright, sun-filled eating area has direct access to therear yard. Beautifully gleaming hardwood floors and 9' ceilings on the main level. Carpets and floors prof. CLEANED (April 2023) Upper floor presents youw/a large primary bedroom with walk-in closet and a 3 piece en-suite, 2 additional good size bedrooms, 1 with walk-in closet, and upper-level laundry foryour convenience. The lower level offers a fully finished rec room, great space for family game night with additional room for a HOME OFFICE or kids playarea. Situated in an EXCELLENT! location, very family-friendly, bus routes, parks, schools, and shopping centers!! Still covered under TARRION WARRANTY!!Don't miss it! 24 hr irrevocable. (id:35885)

4 Bedroom 3 Bathroom
For sale
$269,900
665 BATHGATE DRIVE UNIT#1506, ottawa, Ontario

665 Bathgate Drive Unit#1506

Ottawa, Ontario

Welcome to Las Brisas! Enjoy fantastic views from this bright, 15th storey apartment. Great functional layout that is ready for your personal touches. Two generously sized bedrooms, including a large primary with plenty of closet space. The building offers many amenities, including an indoor pool, tennis courts, a library, an exercise room, and more. Excellent location close to the Montfort hospital, easy highway access, and lots of shops and restaurants nearby! Underground parking included for convenient condo living. (id:35885)

2 Bedroom 1 Bathroom
For sale Open House
$539,900
129 EYE BRIGHT CRESCENT, ottawa, Ontario

129 Eye Bright Crescent

Ottawa, Ontario

Open House: Sunday, 7 July, from 2:00 pm to 4:00 pm. Newly renovated exterior - done by the builder! Step into luxury with this stunning upper condo with approx. 1835 sq. feet and southwest-facing balcony, where every sunset becomes a personal masterpiece. The open-concept main level features hardwood floors, soaring cathedral ceilings, and expansive windows inviting the sunshine in. Delight in culinary adventures with upgraded stainless steel appliances, a chic waterfall island seating for up to 5, elegant quartz countertops. A guest bedroom with a walk-in closet and convenient cheater bathroom offer comfort and privacy. Up to the third level, a bright loft awaits, ideal for crafting your dream office, workout space, or media haven. The primary bedroom suite features cathedral ceilings, a sprawling walk-in closet, and an ensuite oasis complete with a luxurious soaker tub and shower. The 2nd level balcony, off the PR, features unobstructed views. Near the forthcoming LRT hub! (id:35885)

2 Bedroom 2 Bathroom
For sale
$468,000
242 RIDEAU STREET UNIT#709, ottawa, Ontario

242 Rideau Street Unit#709

Ottawa, Ontario

Welcome to this spacious Corner unit 2 bedroom Downtown Ottawa condo(740 sq ft) . just a short walk to Rideau Center, Parliament Hill, University of Ottawa,the Byward Market and the Transitway. Gorgeous kitchen with stainless steel appliances and breakfast bar are adjacent to the open concept living room. Retreat to your private sanctuary & unwind on a large balcony.Convenient in-suite laundry Amenities . Master bedroom offers closets and big window. 2nd bedroom with 3 windows offers versatility--can be used as home office, guest room, or cozy reading nook. The underground parking & storage unit is conveniently situated across from the elevator door, ensuring easy access to your vehicle.Enjoy the gym,swimming pool & the amazing 24-hour concierge service. Condo fees include Heat & AC. Perfect for young professionals, students or savvy investors. Quick closing possible. (id:35885)

2 Bedroom 1 Bathroom
For rent
$2,700 Monthly
197 LISGAR STREET UNIT#212, ottawa, Ontario

197 Lisgar Street Unit#212

Ottawa, Ontario

Discover urban living at its best in this 2-storey loft in Tribeca Lofts. Just one block from Elgin Street and two blocks from Bank Street, you'll be close to downtown's best shops and restaurants, with Farmboy, Rexall, and the Wine Shop just steps away. This south-facing apartment is bright and airy, thanks to floor-to-ceiling windows with automated blinds, and features a private balcony with a natural gas hookup for BBQs. The main level includes a spacious entrance, powder room, utility room, storage, laundry, living area, and a beautifully finished kitchen. Upstairs, the loft offers a large bedroom area with room for a desk, a walk-in closet, and a four-piece bathroom. Amenities include a party room, indoor pool, gym, sauna, and rooftop patio. The unit also comes with one underground parking space and three storage lockers. Furniture can be negotiated, 24-hour irrevocable on all offers. (id:35885)

1 Bedroom 2 Bathroom
For rent
$1,895 Monthly
161 WINDSWEPT PRIVATE, ottawa, Ontario

161 Windswept Private

Ottawa, Ontario

Welcome to 161 Windswept Private! This is an incredible opportunity to rent a bright, spacious, and meticulously maintained SOUTH-FACING unit in the highly sought-after community of Riverside South. This 2-bedroom boasts modern finishes and a very practical layout from top to bottom. As you enter, you'll be greeted by a powder room and a functional kitchen that overlooks the expansive living and dining area, perfect for entertaining. The lower level features two generously sized bedrooms, the main bathroom with a tub and stand up shower, and the laundry. It includes one outdoor parking spot located right at the front door, and there is ample visitor parking available on site. Ideally located close to transit, shopping, parks, schools, and more. All rental applications must include proof of income or a letter of employment and are subject to credit and reference checks. Please note that pets and smokers are not permitted (no exceptions). 24 hour irrevocable on all offers to lease. (id:35885)

2 Bedroom 2 Bathroom
For sale Open House
$549,000
1490 LYNX CRESCENT, ottawa, Ontario

1490 Lynx Crescent

Ottawa, Ontario

Great opportunity for homeownership or investment in a mature, sought-after neighborhood. This lovely townhome is steps from a school, park, and a convenient path. Close to transit and a shopping plaza, it offers incredible convenience. Featuring 3 bedrooms and 2 bathrooms, this home boasts an open layout filled with natural light. The open-concept kitchen flows into the living and dining areas, perfect for entertaining. The spacious master bedroom and additional bedrooms provide ample space. The lower-level family room is cozy and inviting. Enjoy the fully fenced backyard, ideal for outdoor activities. Don’t miss this chance—schedule a viewing today! (id:35885)

3 Bedroom 2 Bathroom
For sale Open House
$635,000
52 COLLINGTON STREET, ottawa, Ontario

52 Collington Street

Ottawa, Ontario

Welcome this bright 3-bedroom End-Unit Townhome in Chapman Mills! Enjoy an oversized, landscaped yard with interlock walkways and multi-level entertainment areas. The main floor features a spacious living room with maple hardwood flooring and an open-concept kitchen/family room with stainless steel appliances, an island, gas fireplace, and patio doors to huge fenced backyard. Upstairs find a luxurious master suite with a retreat area, Rideau River view, walk-in closet, and en-suite with Roman tub. Two additional bedrooms and a full bathroom complete the upper level. The unfinished basement awaits your personal touch! Includes a single-car garage with inside access and tons of parking. Close to parks, shopping, public transit, and Chapman Mills Conservation Area. Book a showing today! (id:35885)

3 Bedroom 3 Bathroom
For sale
$799,900
30 OASIS STREET, limoges, Ontario

30 Oasis Street

Limoges, Ontario

Welcome to this extraordinary property will fully legal secondary unit! Step inside to discover 9' ceilings creating a bright and welcoming atmosphere. Enjoy the massive living room with cozy gas fireplace and the covered deck offering lovely views. A chef's delight, the kitchen features side wall storage, many cabinets, and an island. Upstairs, discover spacious bedrooms, each with hardwood floors and walk-in closets, and a Jack & Jill bathroom with 2 sinks. The luxurious primary bedroom boasts a spa-like ensuite with a soaker tub, separate shower, double sinks, and a linen closet. The home also has an office space and a loft area with a gas fireplace, perfect for a living room or playroom. You will be impressed by the luminous secondary unit and its modern finishes: laminate flooring, quartz countertops and electric fireplace. Additional features include: detached garage, 2 X 50-amp RV plugs and a Generac natural gas generator. Make this your dream home! Schedule a viewing! (id:35885)

4 Bedroom 4 Bathroom
For sale
$584,900
133 GIROUX STREET, limoges, Ontario

133 Giroux Street

Limoges, Ontario

Welcome to Whistler II, an ideal bungalow with two bedrooms and two bathrooms. Enjoy the bright open-concept floor plan, an optional cozy gas fireplace in the spacious living room and a roomy kitchen. Relax in the spa-like 4-piece ensuite. The second bathroom has a convenient in-suite laundry. The lower level offers versatile space for extra rooms. Current price is for a single car garage, but double car garage is available. For a limited time, choose your cabinet, floor and bathroom styles, including 2 paint colours, from a variety of options. The new Parc Des Dunes development is just steps away from the Nation Sports Complex and Ecole St-Viateur in Limoges. Enjoy proximity to many parks, Calypso Water Park, and the Larose Forest and all its trails. The home is currently in construction, the pictures shown are of a previous and model. (id:35885)

2 Bedroom 2 Bathroom
For sale Open House
$849,900
44 STONEPOINTE AVENUE, ottawa, Ontario

44 Stonepointe Avenue

Ottawa, Ontario

Nestled in a sought-after area, this stunning Sierra model home boasts 4 bedrooms & a fully finished basement, offering an abundance of space & comfort. Step inside to discover formal living and dining rooms, perfect for hosting gatherings or relaxing with loved ones. The kitchen is a chef's dream, featuring an island, granite counters, ample cabinetry, and open to the spacious family room with a cozy gas fireplace. Upstairs, you'll find 4 sizable bedrooms, a convenient laundry room, and a luxurious primary bedroom complete with a walk-in closet and full ensuite with a relaxing soaker tub. The finished basement adds extra living space with a bonus rec room, den, gym area and storage area. Outside, the fenced backyard with an interlocking patio is ideal for outdoor entertaining. With its amazing location/proximity to parks, schools & bus routes this property offers the perfect blend of comfort & convenience. [furnace 2020, roof 2017, windows 2019] (id:35885)

4 Bedroom 3 Bathroom
For sale
$749,900
2173 QUEENSGROVE ROAD, ottawa, Ontario

2173 Queensgrove Road

Ottawa, Ontario

Tastefully renovated mid-century bungalow in tree-lined Glabar Park! With 3 beds & tons of recent upgrades, this home is perfect for busy young families & couples seeking a move-in ready home within proximity to shopping, schools, parks, bike paths, parkway/river & the 417. Southern exposure in the front & north-west exposure in the back. Beautiful perennial gardens & stone planter boxes line the front walk. Refinished oak hardwood & custom blinds throughout the main level. The renovated kitchen features a gas range, pot filler, quartz counters & a side door. 3rd bedroom with new patio doors being used as a den. The basement features a large rec room & tons of storage/potential to fully finish with another bed/bath. Private backyard with mature hedges, a huge deck, hot tub, natural gas BBQ & storage shed. Upgrades include roof, windows, furnace, AC, electrical panel, kitchen in '20, backyard, landscaping, hot tub '21/'22, bathroom '23, eavestroughs/downspouts with gutter guards '23. (id:35885)

3 Bedroom 1 Bathroom
For sale
$630,000
373 IBERVILLE STREET, ottawa, Ontario

373 Iberville Street

Ottawa, Ontario

Attention Developers , Currently ZONED R4. Create your own family memories as the owners have done over generations or take this opportunity to develope for investment. This beautiful, 1.5 storey, is only minutes to downtown Ottawa & close to all amenities, transit, schools, parks, and more. Enjoy the open concept kitchen-living area with a large island for eating and extra work space.Extra large bathroom, primary bedroom on the main, makes it easy for limited mobility & buyer looking for one level living. Laundry room is started, but remains for your personal touch. 2 nice size bedrooms upstairs for children or guest. This R4 zoning & extra side entrance to the basement, may be suitable for an In-Law suite. Detached garage for extra storage or protection for you car from the winter, is hosted by this extra large yard for summer fun. (id:35885)

For sale
$679,000
760 CASHMERE TERRACE, ottawa, Ontario

760 Cashmere Terrace

Ottawa, Ontario

Bright and Inviting END-UNIT townhome awaits your discerning taste in a popular family-friendly neighbourhood of Barrhven. This elegant and sophisticated property features an open concept layout on the first floor, 2nd-floor laundry and a finished basement. You will be impressed by the hardwood throughout the main floor. The open-concept dining room and kitchen with stainless steel appliances/quartz countertop/pantry room, and a large living room when you enter the door. A beautiful staircase leads to the second level, complete with a huge master bedroom with WIC and ensuite bathroom, 2 spacious bedrooms and a full bath and convenient laundry as well. The finished basement boasts a spacious rec room. Walking distance to shopping, transit and more. Offer with 24 hours irrevocable, please! (id:35885)

3 Bedroom 4 Bathroom
For sale
$614,900
64 ROSEANNE LANE, ottawa, Ontario

64 Roseanne Lane

Ottawa, Ontario

Tastefully UPGRADED Home, Showcasing $50K in modern enhancements that elevate its charm & functionality! Attractive HARDWOOD FLRS on 2 lvls providing an Aesthetic Appeal & Durability! Elegant Open Concept Living & Dining Rm w/Beautiful Gas Fireplace! UPGRADED KITCHEN(22) features QUARTZ countertops, stylish tile backsplash, new sink & fixtures & updated cabinetry w/contemporary hardware. Adjacent eat-in area, w/patio dr(19) to the deck & fenced yard. This flr is completed by a convenient powder room & inside entry to the garage. The primary bdrm is a sun-filled & comfortable retreat w/picturesque windows, walk-in closet, 2nd closet, & wonderful 4P ENSUITE! 2 other bdrms are generously sized, each w/ample closet space & a full main bathrm. Finished bsmt adds valuable living space w/excellent rec/family rm, laundry area & plenty of storage. Furnace(24), AC(21), Windows(19) except for 2 bsmt windows, Roof(12), Front dr(22), Grg Dr opener(21) & Freshly painted(23) thru-out! Move in ready! (id:35885)

3 Bedroom 3 Bathroom
For sale Open House
$359,900
2086 VALIN STREET, ottawa, Ontario

2086 Valin Street

Ottawa, Ontario

Welcome to this move-in-ready condo located in a prime area, just a short stroll from various amenities such as grocery stores, restaurants, and public transit. This rare carpet-free unit boasts 2 spacious bedrooms, 1 full bathroom, and an additional half bath. As you enter, you're greeted by an open-concept dining and living room area, with a conveniently located powder room and large windows that flood the space with natural light. The unit features two generously sized bedrooms connected by a Jack and Jill style 4-piece bathroom. The well-equipped kitchen includes modern appliances and plenty of counter and storage space. This unique condo also offers larger windows, digital door monitoring, has been freshly repainted, and more! Don't miss out on the opportunity to make this gem your new home! (id:35885)

2 Bedroom 2 Bathroom
For sale Open House
$529,900
7 KIPPEWA DRIVE UNIT#105, ottawa, Ontario

7 Kippewa Drive Unit#105

Ottawa, Ontario

Welcome home to this beautiful and spacious upgraded 2 bedroom, 2 bathroom condo. This lovely low rise building is perfectly situated in one of Ottawa’s prime locations. This dignified resident offers a fabulous layout and features an underground parking space and storage. New flooring throughout, new ensuite bathroom, kitchen upgraded with new countertop, appliances and pot lights, crown moulding. Enjoy the convenience of being steps to Dows Lake pavilion, The Glebe, Little Italy, Civic Hospital Campus, university and Lansdowne Park. Private balcony with foliage surrounding, creates an inviting atmosphere. This condo isn't just a place to live—it's a lifestyle. Call it yours today! 48hrs irrevocable on all offers. Open House 2-4pm Sunday July 7th 2024 (id:35885)

2 Bedroom 2 Bathroom
For rent
$2,926 Monthly
121 PARKDALE AVENUE UNIT#602, ottawa, Ontario

121 Parkdale Avenue Unit#602

Ottawa, Ontario

Lease assignment. Occupancy is available as of August 1st 2024, term ends October 31st 2024 [then becomes month to month or sign a new lease term w/ Brigil]. Tenant pays hydro. 1 locker & 1 underground parking space included | Fantastic 2 bedroom, 2 bathroom unit with spectacular views of the Ottawa River & Gatineau hills. Walking distance to Wellington Village & Westboro & directly in front of Tunney's Pasture. Just steps away from the Ottawa River bike paths for a perfect blend of downtown convenience & nature. Building perks include: pet friendly building, 24 hour concierge service, heated outdoor pool, rooftop terrace & indoor lounge, bicycle storage, party room, fitness centre, yoga room, restaurant/bistro along with Driphouse Cafe & more! (id:35885)

2 Bedroom 2 Bathroom
For rent
$2,300 Monthly
804 MALEY STREET, kemptville, Ontario

804 Maley Street

Kemptville, Ontario

Lovely family home for rent in Kemptville on a quiet residential street with no rear neighbours! This 3-bedroom, 2-bathroom home features an open concept main floor layout with galley kitchen, breakfast nook, and dining/living room with a cozy gas fireplace. Enjoy the natural light from the large windows that also provide a beautiful view of the treed backyard. The fully finished basement offers additional living space and a walkout to the lush backyard backing onto city-owned land abutting Kemptville Creek. Front and rear decks (3 in total!) offer ample room to enjoy the warmer months outside entertaining friends and family. Offering the convenience of a great central location, just a 3 minute drive or 15 minute walk to almost any store in town. Come experience small town living with all the amenities you need at your doorstep! (id:35885)

3 Bedroom 2 Bathroom
For sale
$1,395,000
125 SECOND AVENUE UNIT#B, ottawa, Ontario

125 Second Avenue Unit#b

Ottawa, Ontario

Welcome to this stunning townhome, located just steps from Bank Street in Ottawa’s most desirable Glebe neighbourhood. This unique and rare offering features over 2800 sq ft + basement of living space. This property is larger than many single-family homes. The second level boasts a bright living room, elegant dining room, beautifully updated kitchen with an island, and a family room with a fireplace. The third level includes 3 bedrooms and 2 full baths. Bedrooms have vaulted ceilings, primary bedroom offers a luxurious renovated ensuite with heated floor, 2 walk-in closets, and private balcony. The main level and basement have been converted into a revenue-generating secondary suite that features 2 bedrooms, 2 bathrooms, laundry and access to private garden. Alternatively, it serves as a brilliant self-contained retreat for an elder teen, parent, or friend. So flexible, so smart. Attached garage + one extra parking. Easily converted back to original plan. The secondary unit is vacant. (id:35885)

5 Bedroom 5 Bathroom
For sale
$749,000
108 BELL STREET, carleton place, Ontario

108 Bell Street

Carleton Place, Ontario

This exquisite home on the Mississippi River rapids offers both elegance and tranquility. Experience the soothing sound of the river. Enjoy a campfire at the stone patio by the river. Custom-built split-level with plenty of windows and hardwood flooring. Main floor living/dining with fireplace. Bright and open eat-in kitchen & walk-out deck. Upstairs is a main bedroom with ensuite & plenty of closet space & 2 other bedrooms & a full bath. Lower-level den/living room with fireplace and walk-out to the fenced-in rear yard.Basement has a laundry room, office with plenty of natural light, easily set up as an in-law suite. Oversized 2 car garage with inside/outside entry. Be entertained by ducks & herons. Fly fish at your doorstep. Private kayak access to the river. Mature trees and perennial flowers. Raised planters. Backyard lighting. Situated a short walk to many eateries, the arena, pool, hospital, parks, schools, and walking trails.This waterfront property is a rare and remarkable gem. (id:35885)

3 Bedroom 3 Bathroom
For sale
$975,000
46 MARICONA WAY, ottawa, Ontario

46 Maricona Way

Ottawa, Ontario

Beautiful family home in prime Kanata Lakes location! Step into a spacious foyer with a walk-in closet, the main level offers a convenient office/den and a functional layout with 9" ceilings, large windows and beautiful hardwood flooring. The traditional layout features a great room with 17-foot ceilings, a gas fireplace and a separate dining room for hosting family and friends. The updated kitchen boasts ample cabinets, granite countertops, stainless steel appliances, and a spacious eat-in area. The upper-level features 4 generous-sized bedrooms with a convenient laundry closet. The primary bedroom has soaring cathedral ceilings, a 4-piece ensuite and a walk-in closet. The professionally finished lower level offers plenty of space with oversized windows and a full bath. Located near top-rated schools, golfing, parks, Kanata Centrum, Tanger Outlets, with easy access to Highway 417. 24 hours irrevocable with offer and include Schedule B. Furnace and AC 2018, roof 2015 (id:35885)

4 Bedroom 4 Bathroom
For sale Open House
$1,149,000
1007 CANOE STREET, barrhaven, Ontario

1007 Canoe Street

Barrhaven, Ontario

Looking for a slam dunk of a home? Look no further! This spectacular home features no rear neighbours, no neighbours to the left and a 3rd floor with a loft. Not only are there 9'ft ceilings with 8'ft doors on the main level, but on the second floor as well! Imagine enjoy your morning coffee overlooking your serene backyard, listening to the birds chirping on your back deck. Run upstairs to your spacious and bright primary retreat with a soaker tub, and 5' glass standing shower. The upper level features 4 spacious bedrooms a laundry room, and all bedrooms have a walk-in closet. It doesn't stop there, take a look at the 3rd floor which features my favourite space of all, loft with a powder room and balcony, perfect as an office or playroom or reading nook! When you're ready for a snack, step down to the kitchen which features quartz countertops, a gas line and water line! The basement features a nice bright rec room, a 5th bedroom and full bath. OPEN HOUSE July 7th, 2024! (id:35885)

5 Bedroom 5 Bathroom
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Residential in Ottawa Real Estate shows -15% Down from last year Average price – Ottawa Homes for Sale – Kanata homes for sale – Barrhaven homes for sale

Residential in Ottawa Real Estate shows -15% Down from last year Average price – However, it marks a 5% increase over January 2023.

Resale Market Stabilizes in February with a Glimmer of Hope for Buyers and Sellers Alike!

OREB NEWS

March 3, 2023

Members of the Ottawa Real Estate Board (OREB) sold 855 residential properties in February through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,411 in February 2022, a decrease of 39%. February’s sales included 633 in the freehold-property class, down 42% from a year ago, and 222 in the condominium-property category, a decrease of 31% from February 2022. The five-year average for total unit sales in February is 1,157.

“We’re going to see declines in transactions and prices when we compare current figures to last February — the height of the pandemic resale market activity,” says Ottawa Real Estate Board’s President Ken Dekker. “On the other hand, with the Bank of Canada holding interest rates steady, prospective buyers have more budget certainty to work with as we head into the spring market.”

By the Numbers – Average Prices*:

  • The average sale price for a freehold-class property in February was $708,968, a decrease of 15% from 2022. However, it marks a 5% increase over January 2023.
  • The average sale price for a condominium-class property was $410,927, decreasing 12% from a year ago.
  • With year-to-date average sale prices at $695,086 for freeholds and $411,449 for condos, these values represent a 14% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

“The average price increase for freeholds over January could be an indicator that buyers have normalized to the current interest rates. And perhaps, it’s a glimmer of more activity to come in the months ahead.”

By the Numbers – Inventory & New Listings:

  • Months of Inventory for the freehold-class properties has increased to 2.8 months from 0.7 months in February 2022.
  • Months of Inventory for condominium-class properties has increased to 2.5 months from 0.7 months in February 2022.
  • February’s new listings (1,366) were 22% lower than February 2022 (1,762) and up 3% from January 2023 (1,323). The 5-year average for new listings in February is 1,632.
  • Days on market (DOM) for freeholds decreased from 43 to 37 days and 47 to 43 days for condos compared to last month.

“A decrease in the days on market, paired with fewer new listings entering the market, is good news for sellers,” says Dekker. “However, if that trend continues to impact our supply stock and we don’t get more inventory, our otherwise balanced market could swing back into seller’s territory — but it’s too early to predict.”

“The best advice for sellers and buyers in today’s market is to pay close attention to the comparison and competition insights only a REALTOR® can offer. Ottawa is made up of many micro-markets, and neighbourhood-level data is vital to standing out and closing deals.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 995 properties compared to 800 last year at this time, an increase of 24%.

 

 

Details:

Average Sale Price February 2023= from $708,172 down to $620,088 (-12.4% down)

Quantity of sales: 2471 down to 1513 in Feb 2023 (-38% down)

CDOM= Re-listed : Days on Market from 27 to 69 days ( more days on market:  +42 days)

DOM= Days on Market – from 19 days TO 44 days longer in 2023 ( more days on market:  +25 days)

 

 

 

 

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Ottawa Real Estate Market news Feb 2023 – Kanata Real Estate Market news Feb 2023 – Join our newsletter

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.

 

 

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BUY YOUR 1ST HOME WITH YOUR RRSPs – Ottawa homes for sale 2023 – Ottawa real estate news

How to participate in the Home Buyers’ Plan (HBP)

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Easy ways to buy a Home in Ottawa.Homes for sale.

 

The Home Buyers’ Plan (HBP) is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to buy in Ottawa or build a qualifying home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period.

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DEC 2022 – Year-to-date average sale prices – residential and condominiums, values represent an 8% increase over 2021 – OTTAWA HOMES FOR SALE

STILL WAITING TO BUY YOUR HOME?

Market stats show an +8% increase over 2021. Interest rates are still lower than this year-to-year Ottawa real estate market increase %. That means, there is still profit in the market of about 3-4% yearly for you to make. Ask me to teach you about leveraging and mortgage % when buying a home in Ottawa.

Real Estate news in Ottawa.

With year-to-date average sale prices at $774,422 for residential units and $454,436 for condominiums, these values represent an 8% increase over 2021 for both property classes

 

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September 2022 -OTTAWA REAL ESTATE NEWS – Buyer Uncertainty Slows Down August Resales in Ottawa – Ottawa homes for Sale

HOMES-FOR-SALE-OTTAWA – KANATA-HOMES-KANATA-OTTAWA HOMES FOR SALE – OTTAWA HOME PRICES SEPTEMBER 2022- OTTAWA CONDOS FOR SALE SEPTEMBER  2022 – LATEST OTTAWA REAL ESTATE NEWS.


Buyer Uncertainty Slows Down August Resale numbers. 

But Prices are still up in Residential homes 10.2% and Condominium 8.8% from last year August .

 

 

September 6, 2022, Update from the Ottawa Real Estate Board.

September 6, 2022

Members of the Ottawa Real Estate Board sold 1,137 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,565 in August 2021, a decrease of 27 per cent. August’s sales included 850 in the residential-property class, down 27 per cent from a year ago, and 287 in the condominium-property category, a decrease of 28 per cent from August 2021. The five-year average for total unit sales in August is 1,603.

“August is a traditionally slower month in Ottawa’s resale market ebb and flow cycle due to summer vacations. Compounding the slowdown in market activity, Buyers are uncertain about their purchasing power given impending additional interest rate hikes,” states Ottawa Real Estate Board President Penny Torontow.

“The lightning speed at which homes were selling at the start of 2022 is a thing of the past, evidenced by Days on Market (DOMs) inching closer to that 30-day mark. We have also observed a return to standard financing and inspection conditions and fewer multiple offer scenarios,” she adds.

Additional figures:

  • The average sale price for a condominium-class property in August was $421,966, an increase of 4 per cent from 2021.
  • The average sale price for a residential-class property was $707,712, increasing 5 per cent from a year ago.
  • With year-to-date average sale prices at $795,978 for residential and $457,771 for condominiums, these values represent a 10 per cent and 9 percent increase over 2021, respectively.*
  • 2,093 properties were listed in August, boosting inventory to nearly 3 months for residential class properties and 2.2 months for condominiums.

“Prices are still rising slightly in some areas, albeit lower single-digit percentage increases, bringing back the moderate price-growth stability that is characteristic of the Ottawa resale market. What happened to prices in 2020 and 2021 was unusual. We are moving towards a balanced market state, where Buyers have choices and Sellers need to ensure they are pricing their properties accurately,” Torontow advises.

“The informed market knowledge and insight of a licensed REALTOR® is critical to both Buyers and Sellers navigating market shifts. Sellers will want to closely explore with their REALTOR® the best time and price to list their home to optimize a property’s days on market. Buyers can use the extra time to work with their REALTOR® on due diligence and finding a dream home that meets their needs within their financial parameters.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 4,172 properties compared to 3,182 last year at this time.

* 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.

source OREB.

 

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Feb 2022 -OTTAWA REAL ESTATE NEWS – Frigid January Temperatures didn’t Cool Resale Market – Ottawa homes for Sale

HOMES-FOR-SALE-OTTAWA – KANATA-HOMES-KANATA-OTTAWA HOMES FOR SALE – OTTAWA HOME PRICES FEBRUARY 2022- OTTAWA CONDOS FOR SALE FEBRUARY 2022 – LATEST OTTAWA REAL ESTATE NEWS.

February 2022 – OTTAWA REAL ESTATE PRICES UP +17.8%

The Members of the Ottawa Real Estate Board sold 936 residential properties in January through the Board’s Multiple Listing Service® System, compared with 963 in January 2021, a decrease of 3 per cent. January’s sales included 661 in the residential-property class, down 2 per cent from a year ago, and 275 in the condominium-property category, a decrease of 5 per cent from January 2021. The five-year average for total unit sales in January is 840.

“January’s sales, almost identical to 2021’s, were very strong for a traditionally slower month, especially given the frigid temperatures and increased government Covid-19 restrictions we experienced,” states Ottawa Real Estate Board President Penny Torontow. “This increased activity compared to previous years is not solely a pandemic phenomenon. Yes, the pandemic has accelerated market activity in some ways, but pent-up Buyer demand due to the housing supply shortage has been an ongoing fundamental issue for the Ottawa resale market for well over 5 years now – and the price increases will continue to reflect that until the housing stock grows.”

The average sale price for a condominium-class property in January was $447,943, an increase of 18 per cent from 2021, while the average sale price for a residential-class property was $771,739, increasing 14 per cent from a year ago.*

“Average prices continue to rise steadily with the lack of inventory pushing prices to levels previously unseen. We only need to observe the number of homes now selling over $1M for a clear demonstration. In 2020, they represented 3% of residential sales, in 2021, they held 9% of the market’s resales, and now in 2022, that number reflects close to 14% of detached home sales.”

“Meanwhile, the residential-class properties selling within the $650-$900K range represent 47% of all of January’s residential unit sales. In 2021, it was 33%. But we must keep in mind, average prices statistics amalgamate data from the entire city, so while in some areas the increases would be less, other pockets of Ottawa may see more,” advises Torontow.

“The condo market is also flourishing both in number of sales and prices. Possibly due to the fact that residential units may be out of reach for some Buyers, they are finding themselves more open to this option and are actually able to find a condominium-class property within their budget.”

“Bad weather, pandemic lockdowns, it doesn’t matter – Ottawa remains a fast-moving, active, and robust market. So, if you are thinking of selling your property, there has never been a better time. Contact a REALTOR® who can explain the various factors that will help you get the best price for your home today.” In addition to residential sales, OREB Members assisted clients with renting 410 properties in January 2022 compared to 333 in 2021.

* 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.

source OREB.

HOMES-FOR-SALE-OTTAWA – KANATA-HOMES-KANATA-OTTAWA HOMES FOR SALE – OTTAWA HOME PRICES FEBRUARY 2022- OTTAWA CONDOS FOR SALE 2022 – LATEST OTTAWA REAL ESTATE NEWS.

 

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OTTAWA AVERAGE  PRICES FROM JAN 2012 TO  FEB 2022

 

 

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Ottawa Homes for Sale – Market update Nov 11, 2021 – Kanata Homes for Sale

 

OTTAWA, November 3, 2021 Members of the Ottawa Real Estate Board sold 1,677 residential properties in October through the Board’s Multiple Listing Service® System, compared with 2,132 in October 2020, a decrease of 21 per cent. October’s sales included 1,263 in the residential-property class, down 24 per cent from a year ago, and 414 in the condominium property category, a decrease of 14 per cent from October 2020.

The five-year average for total unit sales in October is 1,605. “October’s resale market was active, busy, and stable – and followed the typical (pre-pandemic) ebb and flow that we commonly see as we enter the fall season,” states Ottawa Real Estate Board President Debra Wright. “The number of transactions increased slightly over September (1,607) as well as the 5-year average. The only reason we see a year-over year decrease in comparison to last October is because 2020’s sales peak had shifted from the spring months to September/ October due to the initial Covid-19 lockdown.”

 

The average sale price for a condominium-class property in October was $404,760, an increase of 10 per cent from 2020, while the average sale price for a residential
class property was $716,378, an increase of 19 per cent from a year ago. With year-to-date average sale prices at $720,150 for residential and $419,515 for condominiums, these values represent a 24 per cent and 16 percent increase over 2020, respectively.*“While the number of units sold followed the traditional trajectory, the lack of supply continues to put upward pressure on prices, which are holding strong and steadily increasing. Although there were 1,960 new listings in October, falling just under the 5-year average (1,974), it’s simply not enough. Inventory remains at a one-month supply for residential properties and 1.2 months for condominiums.

The only way we will find balance in Ottawa’s market is to increase the housing stock exponentially.”“Low inventory and a lack of suitable housing options restrict movement along the housing spectrum. Moveup buyers and downsizers have nowhere to go, so they stay in place, but we need that exchange of properties in the marketplace to free up supply for entry-level homebuyers,” Wright adds. “Additionally, we have noticed a substantial increase in the number of rental transactions through the MLS® System, which could suggest that some of the properties have been purchased or held on to for investment purposes. This active rental market may be another contributing factor as to why there aren’t more properties coming onto the market for sale.”
OREB Members assisted clients with renting 4,012 properties since the beginning of the year compared to 2,829 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.

SOURCE” OREB

 

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