New property listed in Kars
I have listed a new property at 1388 COMMODORE LANE in Kars.
Wow, amazing waterfront property with 3.78 acres of prime land in Kars. The parcel of land features of 900 feet plus of shoreline, manicured landscape and wooded land. It has an all-year round road access to the property. Easy commute to Manotick and Ottawa. The property offers a RV trailer, lanai, pontoon boat, boat canopy, lawn furniture, 36-foot Fendock, drilled well with an expansion tank, hydro entrance 200 AMP (20 amp & 30 amp outlet by the shoreline), holding tank and more. The current use of land is recreational. Great swimming in the summer and relax in the evening in front of the fire pit by the river. This is a perfect place to build memories for the next family. YOU WILL FALL IN LOVE WITH IT INSTANTLY. (id:2493)


Magical Food Drive 

Let's kick off the summer with a splash! Help us to replenish the Ottawa Food Bank.

Event: FREE MAGIC SHOW for all ages.
Where: Qualicum Community Centre
Location: 48 Nanaimo Drive, Ottawa
When: Saturday June 25, 10:15 -11:00 am

Food Drive Event runs from 10 am - 2pm on Saturday June 25.
Please bring 2 non-perishable food items.

For cash donation to Ottawa Food Bank:

Can't attend! No problems. We can make arrangement for pick up.

Spread the word!! Looking forward to see you there.

Ottawa’s May Residential Resales Underperform Expectations

Members of the Ottawa Real Estate Board sold 1,846 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,285 in May 2021, a decrease of 19 per cent. May’s sales included 1,384 in the residential-property class, down 22 per cent from a year ago, and 462 in the condominium-property category, a decrease of 11 per cent from May 2021. The five-year average for total unit sales in May is 2,031.

“With year-over-year resales declining in March and April, and now with this downward trend continuing into May, traditionally the highest performing month for resales, it is quite clear that Ottawa’s resale market is shifting away from the blazing pace of 2021,” states Ottawa Real Estate Board President Penny Torontow. “And if rising interest rates, cost of living, and inflation aren’t enough factors to cause a pullback, the powerful and deadly storm that brought our city to its knees last month has justifiably impacted the market as well.”

“Our data shows a sharp decline in new listings with a corresponding increase in cancelled/suspended listings on the MLS® System in the period following the storm. Overall, in May, however, there were 3,120 properties that entered the market. This is on par with last May and is 5% over the 5-year average. The result is an 18% increase in residential-class inventory. Meanwhile, there was a slight decline (0.4%) in condominium inventory, but this is not surprising since they have likely become an entry point for many first time homebuyers due to the affordable price point.”

The average sale price for a condominium class property in May was $472,920, an increase of 11 per cent from 2021, while the average sale price for a residential-class property was $802,393, increasing 8 per cent from a year ago. With year-to-date average sale prices at $824,276 for residential and $470,353 for condominiums, these values represent a 12 per cent increase over 2021 for both property classes.*

“Average prices, while still higher than 2021, are showing signs of adjusting to the pace of the market with a month-over-month decrease of 2% in both property classes. In April, we also saw a decline of 1-3%. In contrast, January to March experienced month-to-month increases ranging from 2% to 12%. This may be good news for Buyers, including the fact that the months of inventory have increased to 1.2 for residential and 1 month for condominiums. We are still a far cry away from a balanced market, but it finally seems to be moving in the right direction,” Torontow suggests.

“Additionally, another statistic that we see increasing is the cumulative days on market (CDOM), which is now 14 days, increasing from 11 days last May. CDOMs are typically between 30-60 days in a balanced market, and usually closer to that one-month mark in Ottawa. I mention this because we don’t want Sellers to panic if their homes aren’t selling as quickly as perhaps their neighbours’ properties did. Buyers will also have a little more breathing room if this trend continues.”

“But at the end of the day, each property for sale has its own hyper-local market factors (location, condition, other properties for sale in the same neighbourhood, etc.) that will affect the final sale price. If you want to know the most accurate price point to sell your home or what is the true market value of a home you are interested in, a licensed professional REALTOR® has the education and the experience with access to the most current market statistics and property information, to guide you into making the optimal decision for you and your budget.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members assisted clients with renting 2,320 properties compared to 1,837 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.


New property listed in Ottawa
I have listed a new property at 249 MONTEREY DRIVE in Ottawa.
OH Sunday June 5, 2-4 pm. FIRST TIME BUYERS AND INVESTORS ALERT! This solid well built townhome in an amazing location has so much to offer. The spacious kitchen has lots of cupboards and a sun filled window and patio door. Open concept Living & Dining Room leads to the spacious patio and pergola. Hardwood flooring on the main floor including the stairwell. There are 3 bedrooms upstairs - primary bedroom has a full ensuite & tons of closet space. Large cozy room in the lower level can be used as a bedroom and is also perfect for a home office. Laundry and extra storage complete the basement with access to the underground parking. Monthly association fee covers for landscaping, snow removal & parking and much more. Minutes to the Queensway, IKEA, Algonquin College and the College Square. Book a showing today. Don't let this one slip by!! (id:2493)
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