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Your resource for More Ottawa Real Estate (M.O.R.E) information, market news updates and the occasional mindless rambling from Jeff.

 

Members of the Ottawa Real Estate Board sold 911 residential properties in February through the Board's Multiple Listing Service® system, compared with 850 in February 2015, an increase of 7.2 per cent. The five-year average for February sales is 908.


"Although the weather was very unpredictable this month, with many highs and lows and several winter storms, the Ottawa resale market only saw activity pick up," says President of the Ottawa Real Estate Board, Shane Silva. "Residential and condo sales combined increased by 52.3 per cent since last month. However, we need to factor in the leap year, which added an extra day to the month of February, and 46 sales on that day."


February's sales included 199 in the condominium property class, and 712 in the residential property class. The condominium...

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spurred on homebuyers in November as Realtors sold 990 residential properties, compared with 891 in November 2014, an increase of 11.1 per cent. The five-year average for November sales is 944.


"Mild temperatures in November, combined with increased activity post-election, were key factors in the Ottawa resale market performing exceptionally well in November," says David Oikle, President of the Ottawa Real Estate Board. "The positive increase in condo sales may be explained by buyers moving to Ottawa to accept positions with the new government. There may have also been some pent up demand of people who chose to sit on the sidelines until after the election was over."


November's sales included 199 in the condominium property class, and 791 in the residential property class. The condominium property...

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Members of the Ottawa Real Estate Board sold 1,436 residential properties in July through the Board's Multiple Listing Service® system, compared with 1,440 in July 2014, a decrease of 0.3 per cent. The five-year average for July sales is 1,380.


"Last July was the second best on record, and this July was only four units short of that record, coming in well above the five-year average," says David Oikle, President of the Ottawa Real Estate Board. "Overall, the Ottawa resale market has been performing quite well with no major fluctuations in units sold and average sale price."


July's sales included 271 in the condominium property class, and 1,165 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment,...

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WestfestMembers of the Ottawa Real Estate Board sold 1,694 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,657 in June 2014, an increase of 2.2 per cent. The five-year average for June sales is 1,664.

 

“The Ottawa market is performing very well month-over-month and year-to-date compared to last year,” says David Oikle, President of the Ottawa Real Estate Board. “Year-to-date sales for the first half of 2015 are up 4.9 per cent over the first half of 2014, and average sale price continues to be steady for the first half of the year.”

 

June’s sales included 274 in the condominium property class, and 1,420 in the residential property class. The condominium property class includes any property, regardless...

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Members of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236.


"Sales increased month over month, with 356 more properties sold in March over February, a 41.8 per cent increase," says David Oikle, President of the Ottawa Real Estate Board. "Indications of a fast approaching spring market were noted in February, and these numbers are proof that Ottawa is indeed experiencing an upswing in sales."


March's sales included 228 in the condominium property class, and 980 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment,...

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Ottawa, May 5, 2014 - Members of the Ottawa Real Estate Board sold 1,420 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,569 in April 2013, a decrease of 9.5 per cent.

 

“There has been a decrease in units sold on a year-to-date comparison of 3.9 per cent, but the Ottawa market continues to remain relatively stable,” says Randy Oickle, President of the Ottawa Real Estate Board. “With typical ‘spring’ weather beginning a lot later this year, it is not unexpected to see the market have a later upswing than normal. That being said, properties sold in April were on the market an average of 45 days, a few days less than what was indicated in March.”

April’s sales included 257 in the condominium property class, and 1,163 in the residential...

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2014 January Ottawa FreezeMembers of the Ottawa Real Estate Board sold 589 residential properties in January through the Board's Multiple Listing Service® system, compared with 594 in January 2013.


"Residential sales this January were virtually identical to January 2013. Our members sold five more freehold residential properties and 10 fewer residential condos. Statistically, the difference is less than one per cent," says President of the Ottawa Real Estate Board, Randy Oickle. "The market activity is encouraging for homeowners considering the deep freeze Ottawa experienced this past month - a time when people are more apt to stay in and stay warm instead of venturing out to search for a home."


January's sales included 126 in the condominium property class, and 463 in the residential property class. The condominium...

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ottawa_spring_tulipsMembers of the Ottawa Real Estate Board sold 1,573 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,568 in April 2012, an increase of 0.3 per cent.

 

“The Ottawa market is doing well, and gaining ground back since the “cool-down” of the market for the past five months,” says Tim Lee, President of the Ottawa Real Estate Board. “We are on par with the strong sales of last April, and the resale market is up 34.9 per cent since last month. With the late onset of warmer weather, the traditional “spring market” saw its upswing a little later this year. With interest rates continuing to be low, Ottawa remains a healthy, stable market.”

 

April’s sales included 302 in...

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hibernateHas everyone been waiting for the arrival of spring?  It seems so, as members of the Ottawa Real Estate Board sold 15.9% fewer properties in March 2013 (1,167 residential properties), compared with March 2012 (1,388) on the MLS® system.  March's sales included 253 in the condominium property class, and 914 in the residential property class.


"The Ottawa market has been described as steady and stable for the past few years. It's not going up drastically, and it's not going down drastically," says Tim Lee, President of the Ottawa Real Estate Board. "The market was forecasted to slow down in 2013 as a result of recent mortgage changes, and indeed it has."

 

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $358,102,...

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up and downMembers of the Ottawa Real Estate Board sold 602 residential properties in January through the Board's Multiple Listing Service® system, compared with 682 in January 2012, a decrease of 11.7 per cent.


"The Ottawa resale market, which started to flatten out in November and December - potentially as a result of the governments' aim to "cool down" the market - maintained its steadiness into January," says Tim Lee, President of the Ottawa Real Estate Board. "January 2013 isn't too far off from the numbers we've seen in recent years, and although the units sold are a tad lower, Ottawa remains a healthy market."


An economic summary of expansion in Ottawa by Shore-Tanner and Associates indicated that the rates of growth in residents over the age of 55, and particularly in the formation of single and...

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Everyone wants to know what the new year will bring for real estate.  If only I had the proverbial crystal ball.


According to CMHC’s Fall Forecast, Ottawa may see a 2.1% decline in the number of sales in 2013 but a .08% increase in average price.  I also see volume dropping 2 - 3%, and with mortgage rates predicted to remain stable, I anticipate price increases under the rate of inflation.

 

Ottawa's a great place to call home & 2013 remains a good time to make a move!

 

Best wishes for a fantastic year!

 

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2012-3Members of the Ottawa Real Estate Board sold 618 residential properties in December through the Board's Multiple Listing Service® system, compared with 695 in December 2011, a decrease of 11.1%, while the five-year average for December sales stands at 617.


Over the year 14,308 homes were sold through the Board's MLS® system in 2012, a minor decrease from the 14,389 homes sold in 2011. However the number of resale homes sold was slightly above the five-year average of 14,274. The average sale price for 2012 was $351,792, an increase of 2.3% over 2011.


"Looking back at the 2012 market, home sales in the first part of the year increased in comparison to the first half of 2011," said new President of the Ottawa Real Estate Board, Tim Lee. "However, with the introduction of tighter...

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Snow FlurriesAlong with the arrival of snow flurries, the Ottawa real estate market has started to "cool down". While average sale prices increased, the number of units sold decreased on a year over year basis. Members of the Ottawa Real Estate Board sold 931 properties in November through the Board's Multiple Listing Service® system, compared with 1,023 in November 2011, a decrease of nine per cent. It is important to note that the five-year sales average for November is 890 so volume is still healthy, but down from last years record.


"Last year was the best November on record for resale home sales in Ottawa, while this November the sales have come back down to normal levels," says Ansel Clarke, President of the Ottawa Real Estate Board. "Sales for the first eleven months of the year are at 13,692."...

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Ghost-trick-treatThe ghouls and goblins of Halloween left behind an October treat with a slight increase in units sold, along with an increase in the average sale price. Members of the local Ottawa Real Estate Board sold 1,073 properties through the Board's MLS® system in October 2012, compared with 1,059 over the same month in 2011, a 1.3% increase. Ottawa’s five-year average sales figure for October is 1,067.  This month’s figure is comprised of 237 condos, and 836 residential properties.


"Compared to the five-year average, Ottawa is right on track, indicating that we are not experiencing a real estate downturn in Ottawa, but a slow, steady incline in units sold and average sale price," notes Ansel Clarke, President of the Ottawa Real Estate Board. "Ottawa continues to be a great place...

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autumn-fall-leavesIs Ottawa's real estate market falling like the leaves?  

 

Well, new mortgage rules and continuing uncertainty about job losses in the public service may have contributed to recent decreases in the number of sales through the MLS® System of the Ottawa Real Estate Board. Members sold 993 units in September 2012, down from a near record high of 1,201 in September 2011 for a 17% decrease year over year.

 

However it is of value to note that we are on track this year to match historical levels of activity. Since 1999 the number of sales through the MLS® System in Ottawa has ranged from a low of 11,329 to a high of 14,783. Sales for the first nine months of the year are just under 11,700.  The average price of properties sold for the month was $351,585, up 1.3% from $347,236...

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Jump-for-JoyI am excited to announce the launch of my new brand & website this September, focused on helping you with your Ottawa Real Estate needs, home ownership, as well as providing information on our community and many great neighbourhoods.  I welcome you to explore the site and its evolving features.

 

You’ll notice the website’s name “moreOttawaHomes.com” incorporates the word more … also part of my last name.  That one simple word "more" drives everything I do.  For my clients I am driven to provide more service, more marketing, more technology & negotiating power, all in order for you to dream, succeed and achieve more living!  It describes a philosophy and mission for both my journey in real estate, and in my life, with the...

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Ottawa-real-estate-sales-cant-take-the-heatAugust sales took a mini-vacation compared to last year.  1,141 residential properties sold on the Ottawa Real Estate Board’s MLS® system, compared with 1,328 the prior year, representing a 14.1% decrease in activity. However, when comparing 2012’s August sales with the five year average of 1,193; this year’s sales decline is much less conspicuous.

 

The 1,141 sales in August were comprised of 248 condominiums and 893 residential properties. The condo class includes any property class (detached, semi, apartment, stacked, etc.) registered as a condominium, as well as any co-operatives, timeshares, and life leases.  The residential class includes all other residential properties.

 

Ansel Clarke, President of the Ottawa Real Estate Board observed...

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Members of the Ottawa Real Estate Board sold 1,366 residential properties in July through the Board's Multiple Listing Service® system, compared with 1,321 in July 2011, an increase of 3.4 per cent. The five-year average for July sales is 1,360.


summer in ottawaJuly's sales included 304 in the condominium property class, and 1,062 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.


"The number of residential properties sold has slightly increased compared to July of 2011, while the average price has slightly...

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Members of the Ottawa Real Estate Board sold 1,660 residential properties in June through the Board’s Multiple Listing Service® system, compared with 1,719 in June 2011, a decrease of 3.4 per cent.June’s sales included 365 in the condominium property class, and 1,295 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

 

“Although there is a slight decrease in the number of residential properties sold this June, compared to June 2011, it seems to be the norm throughout the...

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Members of the Ottawa Real Estate Board sold 1,896 residential properties in May through the Board's Multiple Listing Service® system, compared with 1,659 in May 2011, an increase of 14.3%.


May's sales included 364 in the condominium property class, and 1,532 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.


"Year-over-year for May, the Ottawa market is experiencing a significant increase in the number of sales, with an accompanying moderate increase in the average sale price," remarks Ansel...

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