Archives for Ottawa real estate

Ottawa Real Estate January 2020 Highlights and Statistics

Based on information released February 5, 2020 by the Ottawa Real Estate Board Average Sale Prices up over 19% in both Residential and Condominium Properties January’s average sale price for a condominium-class property was $338,077, an increase of 19.1 % from January 2019 January’s average sale price of a residential-class property was $516,229, an increase of 19.3 % from January 2019. Compared to last month, however, the average price for residential-class properties increased by a modest 3.2 % and the average price for condominium-class units was 8.8 % higher.* The Board’s Housing Price Index (HPI), which is another data point
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Ottawa Real Estate Market Snapshot November 2019

Weather isn’t Cooling the Resale Market!  Highlights from the Ottawa Real Estate Board December 4, 2019 Ottawa Real Estate Highlights November 2019 UNIT SALES 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 %. Residential: 958 Up 10.5 % from November 2018 Condo: 330 Up 12.2 % 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
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Ottawa Real Estate Snapshot:  October 2019 

Ottawa Real Estate Snapshot:  October 2019 Properties Sold Total properties sold: 1,607 an increase of 16.9% over October 2018 1,211 in the residential-property class, up 15% over October 2018 396 in the condominium-property category, up 23% over October 2018 The five-year average for October unit sales is 1,319. “New listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half,” reports President of the Ottawa Real Estate Board. “It’s perplexing at first; however, when you consider the current breakneck transaction pace in the Ottawa resale market, often requiring homebuyers
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First Time Home Buyer Incentive – Need a Little Help?

With the recent federal election  there has been a great deal of discussion around the Liberal Government’s incentive for First-time Home Buyers which was effective September 2, 2019.  The Government of Canada has allocated $1.25 billion over the next three years for this program.  The incentive is designed to help first-time home buyers find an affordable home.  Finding an affordable home has proven to be a challenge for first-time home buyers and especially younger Canadians.  The lack of inventory has affected the availability of affordable housing options. This has made the cost of housing as a percentage of gross income
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What can we expect from the Fall Real Estate Market in Ottawa?

In Ottawa, we talk about the Spring market and the Fall market as being the two busiest seasons to buy and sell real estate in Ottawa.  Our Spring market started earlier this year and instead of slowing down over the Summer it continued to be strong throughout the Summer months.  Throughout the year we have seen consistent growth in both listing prices and sale prices.  In June, the Ottawa residential average sale price climbed over $500K for the first time ever!  There is also great news for condominiums. Now that condo prices have bounced back, more condo sellers are deciding
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Having Your Home Listed Over the Holidays

If you are planning to sell your home in the next few months, it is wise to plan to maximize the sale of your home. As the temperatures are cooling and the days are getting shorter, we are starting to think of the coming fall and winter seasons.  We will also start to think of the many special holidays we will be celebrating in the next few months. The good news is that buyers who are looking over the holidays tend to be more serious.  We have put together some simple tips that will ease the pressure of having your
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Ottawa Real Estate Market update: August 2019

Ottawa Real Estate Market update: August 2019 (September 5, 2019)  If you’ve been following the Ottawa Real Estate market it probably won’t come as a surprise that both unit sales and prices were up last month, in spite of continuing issues with low supply. Heading into the fall months we don’t see any signs of our fast paced market slowing down. If you have any questions, we’re always here to chat! Market Highlights: Number of Sales:  Total properties sold 1,731  compared with 1,581 in August 2018, an increase of 9.5 per cent.  1,300 in the residential-property class, up 9.7 per
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Find Sold Prices Online!

At Royal LePage Team Realty, we are thrilled to announce that we are the first major brokerage in Ottawa to offer a Virtual Office Website where users can now have access to more information than was ever possible before. With a simple click, anyone with an email address will now be able to access sold prices and other information on listings that have already sold. As a brokerage, we believe in transparency and we are excited to provide this tool to our clients to aid in their real estate journey. Take some time to do some research, but when you’re
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Ottawa Real Estate highlights & Market Snapshot April 2019

Ottawa Real Estate Highlights April 2019: There’s been an upward pressure on prices due to the continuing lower supply levels (residential supply is down 18%, and condo inventory is down almost 40% from last April 2018 according to the latest OREB stats). However these price points are “still well under the Canadian average, and our residents tend to be in comfortable financial situations due to secure employment and a thriving local economy.” [President of the Ottawa Real Estate Board]  who also notes that  “Certainly, the stunted supply is likely responsible for the multiple offer situations we are experiencing, but the reality
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