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New property listed in Ottawa

I have listed a new property at 90 LANDRY STREET UNIT#802 in Ottawa. See details here

Welcome to the sought-after La Tiffani Phase 2 by Claridge. This open-floor plan has 2 bedrooms and 2 full baths. This unit features hardwood flooring throughout, granite countertops in the kitchen and bathroom, in-unit laundry and storage locker. Spectacular floor to ceiling windows bring an amazing view of the city and the Rideau River. One underground parking is also included. Amenities include an indoor pool, exercise room, and party room. Minutes to shops and restaurants in Beechwood Village, Byward Market, and Parliament Hill. 24 hours showing notice is required. (id:2493)

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New property listed in Ottawa

I have listed a new property at 205 PIAZZA CIRCLE in Ottawa. See details here

Available immediately - Beautiful detached family home on a quiet street in Strandherd/Barrhaven. Safe neighbourhood and low traffic is perfect for any family. Spacious living space on the main floor, 9 foot ceiling throughout. Bright family room with a fireplace opens up to a large kitchen and eat-in area. Kitchen is equipped with stainless steel applicances. On the second floor, the primary bedroom features a 4-pc ensuite bath and a walk-in closet. There are also 3 large bedrooms and a full bath for the family. An interlock fenced-in backyard is great place for BBQ, entertaining family and friends. Inside entrance from the double garage parking and tons of storage space in the lower level. Minutes to Market Place, great schools and public transit, it is an ideal location for family. (id:2493)

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Quiet December Caps Off Tumultuous Year

Members of the Ottawa Real Estate Board (OREB) sold 601 residential properties in December through the Board’s Multiple Listing Service® (MLS®) System, compared with 857 in December 2021, a decrease of 30%. December’s sales included 466 in the residential-property class, down 22% from a year ago, and 135 in the condominium-property category, a decrease of 48% from December 2021. The five-year average for total unit sales in December is 775.


2022 in Review

Residential and condo resales in 2022 totaled 15,288, compared with 20,289 in 2021, decreasing 25%. Total sales volume in 2022 was approximately $10.5B compared to $13B in 2021.


“Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says Ken Dekker, OREB’s newly installed 2023 President. “As interest rates and inflation both climbed, buyers retreated to the sidelines and began taking a wait and see approach. However, while it’s quieter than the frantic pace we experienced in 2021, it is now a balanced market.”


By the Numbers – Average Prices*:

•          The average sale price for a condominium-class property in December was $434,973, an increase of 9% from 2021.

•          The average sale price for a residential-class property was $655,839, decreasing 7% from a year ago.

•          With year-to-date average sale prices at $769,623 for residential units and $453,770 for condominiums, these values represent a 7% increase over 2021 for residential-class properties and an 8% increase for condominium-class properties.


“Although market activity tapered off in later 2022, there was an immense amount of activity in the spring at high prices,” says Dekker. “This will be an important caveat to consider as we begin comparing 2023 numbers to the previous year.”


By the Numbers – Inventory & New Listings:

•          Months of Inventory for the residential-class properties has increased to 3.7 months from 0.9 months in December 2021.

•          Months of Inventory for condominium-class properties has increased to 3.9 months from 0.9 months in December 2021.

•          December’s new listings (699) were 17% higher than 2021 (600) and down 56% from November 2022 (1,598). The 5-year average for new listings in December is 662.


“The leading economic force behind Ottawa’s rapid appreciation in the past five years is chronic supply insufficiency,” says Dekker. “It intensified during the pandemic as prospective purchasers capitalized on incredibly low interest rates. Today’s higher rates are slowing down building projects, which exacerbates the low supply issue.”


2023 Lookahead

“Since Ottawa is made up of hyper-local markets, it is a difficult ecosystem to forecast,” says Dekker. “Plus, there are a multitude of factors influencing a changing economic environment these days that will dictate how much activity the resale market will see in 2023. REALTORS® have access to expert insights and industry resources that can help buyers and sellers navigate the complexities.”


REALTORS® also help with finding rentals and vetting potential tenants. OREB Members have assisted clients with renting 6,105 properties this past year compared to 4,813 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.

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New property listed in Braeside

I have listed a new property at 2197 RIVER ROAD in Braeside. See details here

From sunrise to sunset, a home with an unobstructed view overlooking the Ottawa River! ATTENTION RENOVATORS AND CONTRACTORS. This single-family home offers 3 bedrooms and 1 bath, un-touched basement, a double detached garage and a very large barn for hobbyist workshop. Furnace 2019, AC 2019, Well Pump 2020. Easy commute to Braeside and Arnprior and 45 minutes to Kanata. Make this home your next dream home! Home needs work and is selling it in as-is conditions. No warranties or representations will be made by the Estate Trustee. Book a showing today. (id:2493)

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New property listed in Ottawa

I have listed a new property at 37 GARDENPOST TERRACE in Ottawa. See details here

This Minto Haven is a spacious Executive Townhome. The main floor living area is brightly lit thanks to large windows. In the galley kitchen, you will find beautifully upgraded cabinets and stainless steel appliances. Amazing hardwood floors are found throughout the main floor, stairs and second floor of the home. The master bedroom with walk-in closet and private ensuite is a soothing retreat to relax in at the end of the day. The 2 remaining rooms are great sizes for extra bedrooms or a home office. The finished family room in the basement with an additional full bathroom is ready for fun and games, and the large window makes the room bright and welcoming. The backyard is completely enclosed and ready for next summer. Now sit back, relax, and enjoy the show — or entertain friends in style. (id:2493)

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NOVEMBER RESIDENTIAL RESALES: EXPECTEDLY LOW

Members of the Ottawa Real Estate Board (OREB) sold 846 residential properties in November through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,456 in November 2021, a decrease of 42%. November’s sales included 658 in the residential-property class, down 39% from a year ago, and 188 in the condominium-property category, a decrease of 50% from November 2021. The five-year average for total unit sales in November is 1,270.


“November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today’s economic conditions,” says Penny Torontow, OREB’s 2022 President. “This is not isolated to our local market. Globally, we’re still adjusting to the post-pandemic world and that affects demand, pricing, interest rates, cost of living, supply chain disruptions and more. As a result, those who can, are waiting and watching.”


By the Numbers – Average Prices*:

  • The average sale price for a condominium-class property in November was $415,533, a decrease of 4% from 2021.
  • The average sale price for a residential-class property was $680,031, decreasing 5% from a year ago.
  • 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.


“What’s concerning about the current market is the impact on first-time homebuyers,” says Torontow. “The marked decrease in condo sales, for example, signals that even entry-level properties are being affected. Fluctuating markets, paired with the stress test, are keeping first-time buyers on the sidelines in a tight rental market—with MLS® rentals increasing 27% this year over last.”


By the Numbers – Inventory & New Listings:

  • Months of Inventory for the residential-class properties has increased to 3.5 months from 0.9 months in 2021.
  • Months of Inventory for condominium-class properties has increased to 3.4 months from 1.1 months in 2021.
  • November’s new listings (1,598) were 12% higher than 2021 (1,429) and down 22% from October 2022 (2,046). The 5-year average for new listings in November is 1,398.


“With nearly four months of inventory and an average 30 days on market, Ottawa now has a balanced resale market, slightly tipping toward the buyers,” says Torontow. “Sellers are well-advised to work with a REALTOR® who has hyper-local knowledge about specific neighbourhoods, appropriate price points and ideal timing. Prices are adjusting but real estate is a long-term investment. It’s the same reason I tell buyers to marry the house and date the rate.”


* 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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New property listed in Pembroke

I have listed a new property at 154 WALTERS ROAD in Pembroke. See details here

This beautiful country home minutes from Pembroke in the Laurentian Valley is situated on 1.06 acres of land. The lovely bungalow features 4 bedrooms, 1 full bath with a partially finished basement, and an insulated attached garage. Recent updates include new paint, vinyl plank flooring, baseboard/trims (2022), triple-pane windows (2018), roof (2018), bathroom (2021), and more. Great potential to reclaim partially undeveloped basement for next owner's use. Sauna room has a rough-in for plumbing and can be recovered into additional bathroom. An air-tight woodstove and a fireplace with wood stove insert provide year round heat source. Propane forced-air heating is also available. A 47' x 24' workshop with an extra garage parking is a perfect place to run your small business or hobby shop. Second level above the workshop can be easily converted into additional space for a studio or playroom. Tons of storage space for everyone. Bell Fibre-optic is available. Book a private viewing today. (id:2493)

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Resale Market’s Adjustment and Correction Continues

Members of the Ottawa Real Estate Board sold 987 residential properties in October through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,670 in October 2021, a decrease of 41%. October’s sales included 758 in the residential-property class, down 40% from a year ago, and 229 in the condominium-property category, a decrease of 44% from October 2021. The five-year average for total unit sales in October is 1,554.


“After the volatility of the past two pandemic years, which was unsustainable, the market is correcting and adjusting,” says Penny Torontow, Ottawa Real Estate Board President. “The slowdown is compounded by Bank of Canada interest rate increases, which further exacerbates buyer hesitancy and weakens people’s purchasing power—especially first-time homebuyers.”


“Demand is still high, and with increasing inventory available, Buyers have more choices and time to shop for their new home. However, the ongoing speculation about where prices and interest rates are headed shakes consumer confidence and has made some prospective Buyers take a wait-and-see approach.”


“Sellers may be understandably concerned about market fluctuations, which have been more drastic lately,” she adds. “As with any major investment, a longer-term perspective is important. The significant year-over-year gains of the last two years were not sustainable. If you have owned your property for any length of time, your equity has increased significantly and will buffer price corrections. If you buy and sell in the same market, it is all relative.”


By the Numbers – Inventory & New Listings:

  • Months of Inventory for the residential-class properties has increased to 3.3 months from 1 month in 2021.
  • Months of Inventory for condominium-class properties has increased to 3 months from 1.2 months in 2021.
  • October’s new listings (2,047) were 4% higher than 2021 (1,960) and down 14% from September 2022 (2,371). The 5-year average for new listings in October is 1,971.


“Buyers and Sellers need to carefully analyze their own unique circumstances. No one can predict with absolute certainty what will happen next year, but in the highly employed and stable Ottawa market, real estate has been and continues to be a good investment over time,” says Torontow. “They don’t have a crystal ball, but mortgage brokers and REALTORS® have the education, expertise—and most importantly, the data—to help people make an informed decision for their specific situation.”


By the Numbers – Average Prices*:

  • The average sale price for a condominium-class property in October was $445,691, an increase of 9% from 2021.
  • The average sale price for a residential-class property was $677,873, decreasing 5% from a year ago.
  • With year-to-date average sale prices at $780,390 for residential units and $456,470 for condominiums, these values represent an 8% increase over 2021 for residential-class properties and a 9% increase for condominium-class properties.


REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 5,186 properties compared to 4,012 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.

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New property listed in Pembroke

I have listed a new property at 154 Walters Road in Pembroke. See details here

Are you looking for a slower lifestyle but not too far from amenities? Twin Waterfalls Team presents this beautiful country home in the Laurentian Valley. A well maintained bungalow is only minutes to Pembroke. The property offers 1.06 acre of land and it also features 4 bedrooms, 1 full bath with partial finished basement, and an insulated attached garage. Recent updates include new paint, vinyl plank flooring, baseboard and trims (2022), triple-pane windows (2018), roof (2018), bathroom (2021), and more. The partial unfinished basement offers future development for the new owner. Sauna room has a rough-in for plumbing and can be recovered into additional bathroom. An air-tight woodstove and a fireplace with wood stove insert provide year round heat source. Propane forced-air heating is also available. This fabulous 47' x 24' workshop which includes an extra garage parking is a perfect place to run your small business or your hobby shop hangout. Second level above the workshop can be easily converted into additional space for a studio or playroom. Tons of storage space for everyone. Bell Fibre-optic is now available. Book a private viewing today.

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New property listed in Kars

I have listed a new property at 1388 Commodore Lane in Kars. See details here

Wow, amazing waterfront property with 3.87 acres of prime land in Kars. The parcel of land features of 685 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. Contact us for a private viewing.

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Members of the Ottawa Real Estate Board sold 1,080 residential properties in September through the Board’s Multiple Listing Service® System, compared with 1,601 in September 2021, a decrease of 33%. September’s sales included 816 in the residential-property class, down 34% from a year ago, and 264 in the condominium-property category, a decrease of 27% from September 2021. The five-year average for total unit sales in September is 1,586.

“September’s lower sales performance reflects continued hesitancy among Buyers as they watch interest rates rise and consider the speculation surrounding price trends. With rising interest rates, the mortgage stress test has sidelined some potential Buyers, while others are likely scrutinizing their budgets for affordability amidst inflation and cost of living increases,” says Ottawa Real Estate Board President Penny Torontow.

“On the other hand, we have seen an uptick in the number of new listings entering the market, which were not only higher than last month but also last year, and the five-year average. This trend continues to bring the resale market into more balance, which generally means more time for Buyers and Sellers to weigh their options and to adjust according to their needs,” she adds.

By the Numbers – Inventory & New Listings:

  • Months of Inventory for the residential-class properties has increased to 3.1 months from 1.2 months in 2021.
  • Months of Inventory for condominium-class properties has increased to 2.7 months from 1.6 months in 2021.
  • September’s new listings (2,371) were 5% higher than 2021 (2,252) and 13% higher than August 2022 (2,091).

“Prices are stabilizing with slight month-to-month movement, whereas, year over year we are seeing the slow and steady increases that the Ottawa resale market is known for. As every neighbourhood is different, Buyers will want to consult a local REALTOR® who can tap into proprietary data on price trends and expert insights to help them navigate market shifts,” Torontow advises.

By the Numbers – Average Prices*:

  • The average sale price for a condominium-class property in September was $450,987, an increase of 6% from 2021.
  • The average sale price for a residential-class property was $706,658, increasing 0.5% from a year ago.
  • With year-to-date average sale prices at $788,535 for residential and $457,189 for condominiums, these values represent a 9% increase over 2021 for both property classes.

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 4,678 properties compared to 3,598 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.

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New property listed in Ottawa
I have listed a new property at 205 PIAZZA CIRCLE in Ottawa.
Available immediately - Beautiful detached family home on a quiet street in Strandherd/Barrhaven. Safe neighbourhood and low traffic is perfect for any family. The home comes partial furnished and there are rooms for tenants to add their own pieces. Spacious living space on the main floor, 9 foot ceiling throughout. Bright family room with a fireplace opens up to a large kitchen and eat-in area. Kitchen is equipped with stainless steel applicances. On the second floor, the primary bedroom features a 4-pc ensuite bath and a walk-in closet. There are also 3 large bedrooms and a full bath for the family. An interlock fenced-in backyard is great place for BBQ, entertaining and safe for children playing. Inside entrance from the double garage parking and tons of storage space in the lower level. Minutes to Market Place, great schools and public transit, it is an ideal location for family. Book a private viewing today. (id:2493)
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Residential Resale Slowdown Begins A Shift Towards Balance

Members of the Ottawa Real Estate Board sold 1,110 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,718 in July 2021, a decrease of 35 per cent. July’s sales included 840 in the residential-property class, down 36 per cent from a year ago, and 270 in the condominium-property category, a decrease of 34 per cent from July 2021. The five-year average for total unit sales in July is 1,691.


“We are witnessing a profound slowdown in Ottawa’s resale market. July’s numbers reveal that Buyers are indeed putting on the brakes more heavily than what is typically expected during the mid-summer sales dip. Aggressive interest rate increases are surely impacting the decision to buy at the moment as well as other factors that I mentioned last month,” states OREB President Penny Torontow. “But there is a silver lining: with more properties continually being added to inventory, we are on the cusp of returning to a balanced market, and that is good news,” she adds.


“July saw 2,338 new listings added to the housing stock, which is on par with the 5-yr average and 5% lower than last year at this time. Our inventory for residential-class properties is currently around 2.9 months and 2.5 months for condominiums. A market is considered balanced with at least four months of supply, so we are well on our way to that paradigm.”


The average sale price for a condominium class property in July was $425,694, an increase of 1 per cent from 2021, while the average sale price for a residential-class property was $716,354, increasing 5 per cent from a year ago. With year-to-date average sale prices at $805,238 for residential and $461,557 for condominiums, these values represent an 11 per cent and 9 percent increase over 2021, respectively.*


“The double-digit average price increases that we saw in the past couple of years right up until the early spring have now morphed into single-digit increases, which aligns more with our traditional stable year-over-year price growth. However, it is important to point out that average prices tally the entire spectrum of home sales across the city and region. If you look from neighbourhood to neighbourhood, there are so many differing characteristics and attributes, price increases will certainly fluctuate depending on where you live,” suggests Torontow.


“If you are selling your home, now is the time to be patient as days on market return to more normal timeframes. There are still many Buyers out there, but with more choice, they have less pressure and may take their time. Even though interest rates are still quite reasonable from a historical perspective, consumers are adjusting to this new reality. The rising cost of all goods means people need time to evaluate and adapt their mindsets.”


“I also believe it is time for the federal government to adapt and reassess the stress test. It was originally designed when rates were very low to ensure Buyers could manage rate hikes. With interest rates where they are now, they have to qualify at a 7-8% rate which no longer makes sense and takes many Buyers out of the market.”


“Whether you are a Buyer or a Seller, a professional licensed REALTOR® will help you navigate this shifting resale market. They have access to minute-by-minute sales data and local neighbourhood expertise that will assist you in making the best decisions for your circumstances.” REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 3,528 properties compared to 2,706 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.

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New property listed in Ottawa
I have listed a new property at 100 HILLSIDE DRIVE UNIT#43 in Ottawa.
OH Sat & Sun, Aug 6-7, 2-4 pm. Welcome to one of the finest hidden gems that Ottawa has to offer. Rarely offered, this 4-bdrs townhome offers 1937sf of living space and a large private fenced-in courtyard. The unit with southern exposure provides abundant natural lighting in the solarium, kitchen, living-dining area. The primary bdrm on the top level features a 19ft vaulted ceiling, 3-pc ensuite bath and walk-in-closet. 2nd floor offers three bdrms (w/a murphy bed), full bath & a small balcony which makes a perfect place for afternoon tea. This unit has door-to-door underground parking & comes with 2 storage units. Window, patio doors and solarium updated last 5 years. Well managed condominium & healthy reserve fund. Full access to a complete equipped recreation centre. Walking distance to amenities such as Farm Boy, grocery store, Shoppers Drug Mart, medical center, Montfort Hospital, & more. This home is ready for the next family to put their personal stamp on it. (id:2493)
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Residential Resale Market's Shifting Benchmark Reality

Members of the Ottawa Real Estate Board sold 1,508 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,122 in June 2021, a decrease of 29 per cent. June’s sales included 1,138 in the residential-property class, down 31 per cent from a year ago, and 370 in the condominium-property category, a decrease of 23 per cent from June 2021. The five-year average for total unit sales in June is 1,966.


“After the frenzy of the past two years, we are witnessing Ottawa’s resale market normalize in 2022 and shift towards the more traditional seasonal ebb and flow cycle. While June transactions do typically taper as many look towards their summer holidays, last month’s sales were at a slower pace than we have seen in well over a decade,” states Ottawa Real Estate Board President Penny Torontow.


“We can likely attribute the decrease in unit sales to economic factors such as rising interest rates and cost of living/ inflation. Other dynamics could include Buyer fatigue combined with a wait-and-see approach towards home prices, lack of confidence amongst consumers, and perhaps the uncertainty surrounding back-to-work arrangements as a long commute with rocketing gas prices will certainly affect decisions about where to live,” she adds.


The average sale price for a condominium class property in June was $438,977, an increase of 1 per cent from 2021, while the average sale price for a residential-class property was $772,861, increasing 6 per cent from a year ago. With year-to-date average sale prices at $815,797 for residential and $465,573 for condominiums, these values represent an 11 per cent and 10 percent increase over 2021, respectively.*


“It’s no secret that price increases have become more modest in the last two months–there’s a new benchmark reality in Ottawa. While our average price statistics provide an overall picture, as the market settles, there will be adjustment differences in various pockets of the city. For example, what happens in Westboro will not likely mirror Findlay Creek,” advises Torontow.


“But even as prices fluctuate, historically, real estate in Ottawa has always been and will continue to be stable and dependable in the long term. We aren’t likely to ever experience the significant dips that other regions may see. Prices won’t fall out; they are prone to level off to the reasonable rates of increase that we have historically experienced.”


“With an influx of 3,213 new listings in June, we are moving (albeit gradually)towards the goal of a more balanced market. Residential inventory has increased by 38% over last year at this time and is sitting at an approximate 1.9 months’ supply currently. Condominium housing stock has risen 14% to a 1.6 months’ supply for that property class. Once government-pledged supply measures are enacted, we are optimistic that goal is within reach.”


“Buyers, if you have been waiting on the sidelines, this may be an optimal time to venture back into your home search. There is more selection, fewer bidding wars, and less pressure to make a warp-speed decision. As for Sellers, your neighbourhood has its own characteristics and attributes that should weigh into the calculation of your property’s value. Contact a professional REALTOR® who has their hand on the pulse of Ottawa’s shifting real estate market today!”


REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members assisted clients with renting 2,919 properties compared to 2,252 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.

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New property listed in Metcalfe
I have listed a new property at 1615 LONEY CRESCENT in Metcalfe.
Rarely available in the Country Hill Estates near Metcalfe, this custom built bungalow has over 2100 sf on a 3 acres lot. This home offers open 9 ceiling, high-end finishings, open floor plan in the living-kitchen area, formal dining room and access from garage to the mud room. Featured highlights are marble and engineered hrdwd floor, ceiling to floor windows, linear electric FP, and so much more. This dream chef-kitchen comes with an X-wide island, natural stone countertop, S-by-S Fridge/freezer, 5-burner gas stove, pot filler, and more. After a bustling day, pamper yourself in this free-standing bathtub in the ensuite bath. The backyard has a 1320 sf of patio for outdoor entertainment. Need more space for your toys? No problem - plans for a detached garage/workshop have been approved by the City. There is plenty of space to add an inground pool and professional landscaping. What a great opportunity to make it complete with your personal stamp as your dream home today!! (id:2493)
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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)
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MAGICAL FOOD DRIVE

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.
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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.

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