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)


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)



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.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.