We have just seen a +14% increase since 2023 lowest price. Single family Homes in Ottawa prices Feb 15 2024. Detached 3 bedrooms home just went up +14.6% from 2023 prices.
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.
Rent and move into this Stunning Contemporary Townhome in Avalon West! Welcome to this beautiful 3-bedroom, 3 bathroom townhouse, perfectly designed for modern living. The open concept main floor features a sleek chef's kitchen, perfect for culinary delights. The second floor offers a convenient laundry room and three spacious bedrooms. Enjoy the benefits of a family-friendly neighborhood with parks, stores, schools, recreation facilities and transit nearby. Don't miss out on this incredible opportunity to own a contemporary townhome in Avalon West! Equifax Credit Report, Recent Paystubs/Employment letter, Rental Application and ID will be required for consideration. Available August 1, 2024. (id:35885)
Wonderful brand new 4 Beds, 2.5 Bath Home in a popular family-friendly neighbourhood of Half Moon Bay! Spacious Foyer leading to Sun-Filled Living & Dining Area, open concept first floor plus main floor Den. A spacious kitchen with walk in pantry & generous counter space/cabinetry for the home cook! 2nd Level complete with a Large Primary Bedrm w/3pc Ensuite feat. Modern Glass Door Shower. 3 Additional Bedrms & Full Bath complete Upper and convenient laundry as well. Finished BSMT hosts REC RM and tons of storage. Wonderful Neighbourhood close to Excellent Schools, Parks, Transit, Shopping, Minto REC Centre, Stonebridge Golf Course, Nature Trails & More! 24 hours irrevocable on the offers. (id:35885)
WOW! HOW ABOUT AN END UNIT TOWNHOME ON A MASSIVE PIE SHAPED LOT. This is the one! Located on a quiet street in a family-oriented neighborhood in Fallingbrook. This 3 bedroom, 2.5 bath townhome has it all. The sun filled main floor consists of a large Livingroom, dining room and galley kitchen with eat in area that leads to a generous fenced in back yard with large deck and gazebo for all of those memorable family and friend get togethers. The second level consists of a primary bedroom with walk in closet and 4pc ensuite as well as 2 more generous sized bedrooms and 4pc bath. The fully finished lower level has a large family room with wood burning fireplace. Lower-level laundry. Great location minutes from parks, SCHOOLS, restaurants, shopping and future LRT. (id:35885)
Rarely offered, Approx. 2300+ sq. ft. (Finished Area), Corner-End Unit townhome in Blackstone. Great location on a corner lot directly across from Blackstone Park this home features a beautiful wrap around porch. The main floor features rich hardwood floors and a bright open concept design that is great for entertaining. The spacious kitchen features tile flooring, dark cabinets, a breakfast bar and stainless steel appliances. The large master suite features a beautiful 4 piece ensuite and a spacious walk in closet. Also upstairs, 3 additional well appointed bedrooms and a large full bathroom. The basement is fully finished and features a large space perfect for a rec room or play room. Roughed in for a fourth bathroom. The large fully fenced private backyard, no rear neighbor access, is perfect for any family includes large deck Conveniently located near shopping, transit, and recreation, this home is a must see! (id:35885)
Link to drone footage and virtual tour below. Marvelous property in a prime neighborhood! Paved driveway with interlock and an epoxy two car garage await the new owners. This home welcomes us into an expansive living area, with dining area that can seat up to 12 people. It extends to the living room with classic coffered ceilings and an inviting gas fireplace. To the right is the kitchen with granite countertops and modern appliances. Hardwood floors can be found throughout the main level. The second level is exemplary. The first room we enter is the family room, right away we can see the cathedral windows and as we look up the vaulted ceilings really open up the space. This room could be an entertainment area or an optional guest bedroom with balcony. Double doors lead to the primary bedroom, with a generously sized walk-in and a 4-piece ensuite equipped with a Roman tub. The laundry is conveniently located on the upper level. Backyard is spacious and scenic. Welcome to luxury (id:35885)
This lovely home is situated on a peaceful, tree-lined street. It boasts abundant natural light and high ceilings. The sunny kitchen features ample cabinetry and an open concept design with stainless steel appliances connected to the TV room, which includes a gas fireplace. The spacious living or office area and dining room provide ample space for entertaining family and friends. Upstairs, you'll find a large master bedroom with a walk-in closet and a full ensuite bathroom. There are also two other spacious bedrooms and another full bathroom. The backyard serves as your private oasis, featuring a large two-level deck with two sets of wide stairs, a gazebo, and a hot tub. With no rear neighbors, the yard offers excellent privacy. Recent updates include hardwood floors (2021), new light fixtures (2024), a new electrical panel (2024), quartz countertops in the kitchen and bathrooms, a new master bedroom window (2021), and fresh paint (2023). (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
Nestled in a prime central location near the Ottawa General, CHEO and shopping centres, our luxury rental building offers and unparalleled lifestyle. Enjoy easy access to public transportation and the Queensway, while indulging in the amazing features and amenities. Relax and socialize on the roof-top terrace, perfect for sunbathing and relaxing, prepare a favorite BBQ recipe at the outdoor dining and BBQ area. Stay active in the fitness centre and yoga room, unwind in the lounge area or find inspiration in the dedicated co-working space. Stainless steel appliances, in-suite laundry, Bell Fibe internet, window coverings and storage lockers are all included. Underground parking spot can be included for $170 per month. Some photos are for illustration purposes only and floorplan may vary slightly. (id:35885)
To all my clients for your trust, your business, your referrals!!!
2022 Real Estate sales award at my Brokerage office!!!
Top Sales and Customer Satisfaction Award!!!
I’m included in the #1s in something that I love doing!! Helping others focus on Real Estate buying a home or wealth building.
Award for top sales in 2022!!!
Yeah!!!!….I am among the #1 group of highest earning individual agent in my Real Estate brokerage Ontario wide!
Working on getting back to a healthier me after my car accident in 2018, this award feels amazing to hold!!
In 2022, I was able to help more first time buyers, upsizers, down sizers, and investors this past year than the last 5 years due to my accident. I also continue to help needy families in the Amazon Rainforest areas of Suriname and Guyana, by donating a percentage to their needs monthly with my clients help. It’s a real passion of mine the Amazon Rainforest survival, and I help them not to cut down the Amazon Rainforest trees, an eco system that is very special to me.
This year has lots to be thankful for friends. My career enables me to give and to help others and that’s a true gift to appreciate.
I really appreciate everyone that has referred me as a Realtor, my friends and family this past year and in the hope you will continue to do so for years to come.
As a Realtor, the studies and legal updates are endless, but it’s all worth it when you get these Awards of Top Customers Satisfaction. I know that for most people, their house is their largest asset and their trust in me means a lot. So I stay sharp in Real estate law studies they are a constant change and being responsible to my clients is paramount to me.
I’ve been truly blessed with great friends, family, and nice clients. My career is enjoyable!!!
I also have an amazing Real Estate office at Solid Rock Realty. I’ve been very lucky to get a supportive broker and her team.
My colleagues are very supportive of me, as we all share tips throughout the office, and the constant learning helps us to become better at what we do, and how to offer our best to our clients.
BIG THANKS again to all of you who supported me and referred me to your family and friends.
What an Amazing Award for 2022!!! I’m very proud of myself getting this
Again…Thank you all in advance for the future referrals….
2023 will be another successful year and great opportunities!
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.
Buyer Questions:
Can I buy my home with my RRSPs? Yes
Can I borrow my downpayment (deposit) to buy a home in Ottawa? Get all the answers.
Will John help me and take the time to show me step by step? Yes
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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
Real estate questions in Ottawa. Get the answers: Ottawa real Estate tips.
How does leveraging work in Real estate?
How to leverage to gain profits % when buying a home in Ottawa.
How to make sure your investment funds are insured when buying a home in Ottawa.
Taking a closer look at Ottawa home prices for November 2022. Down -4.3%
As we take a closer look at these November 2022 Real Estate prices below and above. We are seeing a 2 storey home selling for less this month. Listing a higher price, but Selling Less. The average price has dropped to (-4.3%) and homes are staying longer on the market.
So let’s look even closer: Year to date chart:November 2022 to November 2023 prices are UP +8.7% for that same average price on the same home. The way we are seeing things..is that more or less we are entering into a Normal Market +4%to 5% per year increases as per normal before 2015. Everyone at my brokerage thinks, home prices in Ottawa went up too aggressively and now the party is over in Toronto and now in Ottawa!
We don’t think Double digits profit and these aggressive increases per year in the Ottawa Real Estate market is a healthy market.
Lets talk a bit about supply:
New Homes Supply is still very low and will continue to create demand and that means you pay more. See Condos went up 9.3% this month because of affordability and a lack of homes. Over Supply of homes are also not good, and that was the case in the US HOUSING CRASH around 2008 it stalled or crashed most economies including Canada.
Construction and Renovation a difficult permit process. I would say, we do need to get more homes constructed right now, and building a home should be made much much easier. But it seems today you need a University Degree to deal with the building departments for the Construction of a family home. Apparently my grandfather grade 8 education is no good in our times. With his hand drawings or ruler and pencil wouldn’t work today to get a permit and he constructed 100s of homes as a carpenter, and he had 9 children all educated and fed well. Some people can only afford 1 child. What is wrong with our system in 2022? It simply broken with greed and we are seeing life keeps getting more expensive, harder and more controls placed upon us. It’s impossible building a home or renovation for an apartment in your basement, or building a sons home at the back on your 5 acre land . Our permit system is designed to stop us from building homes. All construction approval is controlled by a few, just like oil.
Conclusion: How about if the city would design 5-10 home models (standard family homes) for you to chose from, free of charge and ready to go, engineered stamped and approved drawings, with all technical drawing stamped for insurance. All designed and Ready for a person to build his/her home on a piece of land. Wouldn’t that be cheaper for the citizen and our kids to build a home? Wouldn’t that ready to go models stop all this red tape, delays, paperwork dance, back and forth approval drawings, months of planning? Just my thoughts on helping people get a home faster! I also think the government should be more involved in the home building for its citizens in 2022 as many developing countries do and since we all now know we have a supply problem.
Did you know: In the last 10 years Builders were only releasing to build a few homes at a time, and selling them in an Auction Sales day Now!! 10 homes for a 100 buyer and you bid. First release Sales day! Prices will continue to climb aggressively if we don’t address these lack of new home supply issues soon. That’s just my thoughts.
Have a super month and remember investing in a property is always a good investment. Ask your parents what they paid for a home and see the future prices unfold.
Investment and opportunity
Let me help you to Build family Wealth in Real Estate. Join me one evening and let me show you where to invest in Real Estate for a wealthier family future.
Ottawa Real Estate News 21st October 2022 – Market slows to 0.5% per month.
Ottawa Average Home prices was up from Nov 2021 to Oct 2022 by 9.4% more, this past month shows 0.5% increase. Average price $703,000 on a residential freehold property and Condos show $425,000.
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.
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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