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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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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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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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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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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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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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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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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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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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 

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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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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I have listed a new property at 1615 LONEY CRESCENT in Metcalfe.
Rarely offered 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 flr, security surveillance system, 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 slab for outdoor entertainment. There is plenty of space to add an inground pool, a great opportunity to add your personal stamp. Need more space for your toys? No problems-plans for a detached garage/workshop have been approved by the City. No conveyance of written offers prior to 6 pm, May 26. (id:2493)
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I have listed a new property at 138A LINDENSHADE DRIVE in Ottawa.
Available immediately - Beautiful 2bed/1bth unit features an open concept living-dining and kitchen area overlooking onto Lindenshade Park. Southwest exposure, the unit is sun-filled with natural light. Freshly painted throughout. The kitchen is equipped with stainless steel appliances. The laundry is also in the unit. An exclusive use of a front courtyard for your BBQ and entertaining. Walking distance to the Market Place, restaurants and shops. One underground parking space is also included. Book your private viewing today. (id:2493)
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Members of the Ottawa Real Estate Board sold 1,889 residential properties in April through the Board’s Multiple Listing Service® System, compared with 2,394 in April 2021, a decrease of 21 per cent. April’s sales included 1,419 in the residential-property class, down 23 per cent from a year ago, and 470 in the condominium-property category, a decrease of 13 per cent from April 2021. The five-year average for total unit sales in April is 1,849.


“With the number of transactions just slightly over the 5-year average, this was one of the weakest performing Aprils we have seen in a while,” states Ottawa Real Estate Board’s President Penny Torontow. “Considering that the number of new listings increased last month, it is a bit of a surprise that sales were off.”


“Certainly, there are a few factors at play: rising interest rates, growing Buyer frustration, April’s cooler temperatures, as well as the housing supply measures recently announced by the government - these could all be causing Buyers to pull back with a wait-and-see approach. We are watching the rest of the spring market closely to determine if this could perhaps be an early indicator of a shift in the market. Since April is only one month, we will be monitoring to see if it becomes a trend moving forward.”


“The fact remains that it is still a Seller’s market with supply under one month. Bidding wars and multiple offers persist in some pockets, prices continue to rise, albeit more moderately, and the market remains relatively strong,” she adds.


The average sale price for a condominium class property in April was $473,702, an increase of 11 per cent from 2021, while the average sale price for a residential-class property was $829,318, increasing 12 per cent from a year ago. With year-to-date average sale prices at $830,588 for residential and $469,603 for condominiums, these values represent a 13 per cent and 12 percent increase over 2021, respectively.*


“Limited supply and high demand will continue to place upward pressure on prices. And as long as there are Buyers willing to pay, average prices will reflect the inventory shortage. However, it is conceivable that price growth may moderate as we do not see the level of price escalations that occurred earlier in the pandemic,” Torontow suggests.


“Although the number of new listings in April (2,846) was down by 11% from 2021, the number of properties that entered the market was still 10% over the 5-year average (2,600), and 214 units more than what was added to the housing stock in March. This has increased Ottawa’s months of inventory to just under a month’s supply. In March, it was just over two weeks. This is good news for potential Buyers as they will have more options and more opportunities to enter the market.”


“In fact, the condominium market may be performing slightly better than residential property classes due to the fact that they are the most affordable price point to enter the market and could possibly now be considered the new entry-level property type.”


“We have also noticed a marked increase in the number of rental properties listed on the MLS® System. Since the beginning of the year, OREB Members assisted clients with renting 1,786 properties compared to 1,458 last year at this time. An increase of 23% and almost double the quantity recorded in pre-pandemic years. As for lease prices, the average cost for a 1-bdrm is approximately $1,850, and a 2-bdrm is $2,200 for rentals listed on the MLS® System. These values are roughly 3-4% higher than this time in 2021. Ottawa REALTORS® are an excellent resource when it comes to finding a rental property or vetting tenants – contact one today!”


* 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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I have listed a new property at 249 MONTEREY DRIVE in Ottawa.
Amazing location! This solid well built townhome 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. Additional bedroom in the basement is carpeted, cozy and 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. Offers to be presented on May 10th, 2022 at 6:00 pm - seller reserves the right to review or accept pre-emptive offers. Open house Sunday, May 8th, 2-4pm. (id:2493)
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I have listed a new property at 179 GEORGE STREET UNIT#1601 in Ottawa.
Available immediately - ALL-INCLUSIVE and FULLY FURNISHED 2bed/1bth unit in the heart of the Byward Mkt. The unit features an open concept living-dining and kitchen area of over 775 sf (plus 99 sf of balcony space). A northeast exposure corner unit, it offers loads of natural daylight. From the balcony, it has an unobstructed view of the Ottawa River, overlooking the southeast of the city and a glimpse of Parliament Hill. Laminate floor, ceramic tiles, and 9 ceiling throughout, the ceiling to floor windows in the main living space are breathtaking. Freshly painted throughout. New tile floor in the kitchen and stainless steel appliances. The laundry is also in the unit. Walking distance to the nearest LRT station, Rideau Centre, Parliament Hill, Byward Market, restaurants and eateries are at your fingertips. One underground parking space is also included. Book your private viewing today. (id:2493)
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I have listed a new property at 195 BESSERER STREET UNIT#1602 in Ottawa.
Welcome to Claridge Plaza 4. The Yankee model, approx. 940 sf, features 2 bedrooms + den and 2 bathrooms. This FURNISHED unit offers beautiful hardwood floor, ceramice tiles, granite kitchen counter top, stainless steel appliances, and beautiful cabinets. The two bathrooms are completed with granite vanity tops, a large walk-in shower, bathtub and contemporary faucets. Lots of natural lighting in the living room and bedrooms. Unobstructed south view of the city from the balcony. Amenities include are indoor pool, recreation room, and party room. 24-7 Security at front desk. One underground parking space is included. Book an appointment today. (id:2493)
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