TOP STORY:
Surprising insights into the minds of a buyer.
Tuesday, January 21, 2014
THIS MONTH IN REAL ESTATE - DECEMBER 2013 (CANADA)
Watch this short 1 minute video Published on Dec 3, 2013 by KW.com
Find out what the top Eco Friendly features buyers want in their home:
Wednesday, January 8, 2014
OTTAWA REAL ESTATE BOARD-JANUARY NEWS RELEASE 2014-01-07
Ottawa remains stable in 2013, devoid of large
fluctuations
Members of the Ottawa Real Estate Board sold 610 residential properties in December through the Board's Multiple Listing Service® system, compared with 615 in December 2012, a decrease of less than one per cent. The five-year average for December sales is 646, with sales from December 2011 and 2009 increasing that average.
The total number of homes sold through the Board's MLS® system in 2013 was 13,873, compared with 14,326 in 2012, a decrease of 3.2 per cent. The average sale price for residential properties, including condominiums, sold in 2013 was $357,348, an increase of 1.6 per cent over 2012.
"Looking back at the 2013 market, home sales in the first part of the year were, for the most part down, in comparison to the year before," said new President of the Ottawa Real Estate Board, Randy Oickle. "The introduction of tighter mortgage rules in July 2012 largely affected the market well into 2013. However, as the year progressed the market began to pick back up, and then leveled out in November and December. Impending mortgage rate increases may have caused the increase in the second half of 2013, as many first-time home buyers jumped into the market in advance of these increases."
December's sales included 145 in the condominium property class, and 465 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $340,021, an increase of 0.9 per cent over December 2012. The average sale price for a condominium-class property was $245,349, a decrease of 5.1 per cent over December 2012. The average sale price of a residential-class property was $369,543, an increase of three per cent over December 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Although, the government succeeded in its plan to "cool down" the market over the past year and a half, Ottawa remains steady and balanced, devoid of large fluctuations in resale activity," says Oickle. "We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home."
The Ottawa Real Estate Board is an industry association of approximately 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Members of the Ottawa Real Estate Board sold 610 residential properties in December through the Board's Multiple Listing Service® system, compared with 615 in December 2012, a decrease of less than one per cent. The five-year average for December sales is 646, with sales from December 2011 and 2009 increasing that average.
The total number of homes sold through the Board's MLS® system in 2013 was 13,873, compared with 14,326 in 2012, a decrease of 3.2 per cent. The average sale price for residential properties, including condominiums, sold in 2013 was $357,348, an increase of 1.6 per cent over 2012.
"Looking back at the 2013 market, home sales in the first part of the year were, for the most part down, in comparison to the year before," said new President of the Ottawa Real Estate Board, Randy Oickle. "The introduction of tighter mortgage rules in July 2012 largely affected the market well into 2013. However, as the year progressed the market began to pick back up, and then leveled out in November and December. Impending mortgage rate increases may have caused the increase in the second half of 2013, as many first-time home buyers jumped into the market in advance of these increases."
December's sales included 145 in the condominium property class, and 465 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $340,021, an increase of 0.9 per cent over December 2012. The average sale price for a condominium-class property was $245,349, a decrease of 5.1 per cent over December 2012. The average sale price of a residential-class property was $369,543, an increase of three per cent over December 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Although, the government succeeded in its plan to "cool down" the market over the past year and a half, Ottawa remains steady and balanced, devoid of large fluctuations in resale activity," says Oickle. "We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home."
The Ottawa Real Estate Board is an industry association of approximately 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Wednesday, November 6, 2013
OTTAWA REAL ESTATE BOARD-NOVEMBER NEWS RELEASE-2013-11-04
October resales comparative to five-year average
Members of the Ottawa Real Estate Board sold 1,090 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of two per cent. The five-year average for October sales is 1,091.
"Resale units sold in October are right on par compared to the five-year average," says Ansel Clarke, Past President of the Ottawa Real Estate Board. "This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market."
October's sales included 211 in the condominium property class, and 879 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $360,085, an increase of 4.1 per cent over October 2012. The average sale price for a condominium-class property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price of a residential-class property was $381,580, an increase of 3.5 per cent over October 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home. We do the homework so you don't have to." Visit wedothehomework.ca for more information on working with a REALTOR®.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Members of the Ottawa Real Estate Board sold 1,090 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,069 in October 2012, an increase of two per cent. The five-year average for October sales is 1,091.
"Resale units sold in October are right on par compared to the five-year average," says Ansel Clarke, Past President of the Ottawa Real Estate Board. "This is a welcome change from the first half of 2013, where we saw continuous decreases, albeit small ones, in the number of units sold. We are also seeing average prices beginning to creep back up. The Ottawa market is proving, once again, to be a steady, balanced market."
October's sales included 211 in the condominium property class, and 879 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $360,085, an increase of 4.1 per cent over October 2012. The average sale price for a condominium-class property was $270,542, an increase of 1.6 per cent over October 2012. The average sale price of a residential-class property was $381,580, an increase of 3.5 per cent over October 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home. We do the homework so you don't have to." Visit wedothehomework.ca for more information on working with a REALTOR®.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Monday, October 7, 2013
OTTAWA REAL ESTATE BOARD-OCTOBER NEWS RELEASE-2013-10-04
Ottawa market heats up as fall settles
in
Members of the Ottawa Real Estate Board sold 1,119 residential properties in September through the Board’s Multiple Listing Service® system, compared with 995 in September 2012, an increase of 12.5 per cent. The five-year average for September sales is 1,121.
Members of the Ottawa Real Estate Board sold 1,119 residential properties in September through the Board’s Multiple Listing Service® system, compared with 995 in September 2012, an increase of 12.5 per cent. The five-year average for September sales is 1,121.
“As a result of the new mortgage rules
introduced last summer, we saw continuous decreases in units sold in the first
half of 2013. Since July 2013, the Ottawa resale market has started to heat up
again,” says Tim Lee, President of the Ottawa Real Estate Board. “The number of
residential and condo units sold has increased since last year. Condo units sold
are up 15 per cent, while residential units sold are up 11.8 per
cent. Also, impending mortgage rate increases may
be causing many first-time home buyers to buy now before the
rates increase.”
September’s sales included 245 in the
condominium property class, and 874 in the residential property class. The
condominium property class includes any property, regardless of style (i.e.
detached, semi-detached, apartment, townhouse, 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 average sale price of residential
properties, including condominiums, sold in September in the Ottawa area was
$346,342, a decrease of 1.2 per cent over September 2012. The average sale price
for a condominium-class property was $257,059, a decrease of 3.4 per cent over
September 2012. The average sale price of a residential-class property was
$371,370, a decrease of 0.5 per cent over September 2012. The Board cautions
that average sale price information 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 average sale price is calculated based on
the total dollar volume of all properties sold.
“As Ottawa and surrounding areas continue to
grow and expand, Ottawa continues to be a healthy, balanced market,” says Lee.
“Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a
home. We do the homework so you don’t have to.”
The Ottawa Real Estate Board is an industry
association of over 2,900 sales representatives and brokers in the Ottawa area.
Members of the Board are also members of the Canadian Real Estate
Association.
Thursday, September 26, 2013
AN EXTRAORDINARY DAY
This morning I woke up and started my day like every other
day. Just another ordinary day I thought as I rolled out of bed and began the
mad morning rush of getting my daughter ready and off to school, before I got
on with my busy work day. I grabbed a
quick coffee to go, skipped breakfast, headed off to school to drop off my daughter
and then drove off to Barrhaven to show a home. The
morning turned out great as I was asked to write up an offer on one of my
listings. Looking through my booked up calendar, the only time I had to write
up the offer was just after picking up my daughter from school as my afternoon
was booked
up with a funeral I wanted to attend to support a co-worker/friend’s
recent loss.
I rush home after showing the property thinking I may be
able to complete the documents for purchase and email them out before heading
off to the funeral. I get home, begin to work on the offer but I quickly run
out of time. I grab my purse and hurry off to the funeral service. My mind is
racing a mile a minute as I am driving, trying to coordinate in my head, how I
will manage to attend the funeral, write up the offer, pick up my daughter from
school and make time for a market analysis all before 5pm.
It’s 12:00 noon, just made it on time to the funeral. I park my car and rush into the church.
The service was beautiful and by the time the eulogies were
completed, although I did not personally know Karen, I felt I had known her.
She was loved by so many and it was clear how much love and happiness she
brought to all. A mom, a sister, a daughter...just
like so many of us. Gone in the blink of an eye during an unexpected tragedy in
Barrhaven. Yes, she was one of the bus passengers that collided with the train
the morning of September 18th. On her way to work...just another ordinary
working day in her life she probably thought.
I sat, quietly in a pew and absorbed all of the emotions
surrounding me. I was overwhelmed by the amount of togetherness and love I
felt in the church. I was fully engaged in the moment and realized how blessed
Karen was to have such a tremendous amount of friends, love and support in her life. I could relate. I myself am fortunate to have such a loving and supportive circle of friends. I have been blessed with the birth of a healthy incredible, beautiful daughter that I love more than anyone or anything in this entire
world and who at times, I put second because of the busy life I lead as a
single mom and a Realtor. This moment made me
realize that today isn’t just an ordinary day. Today is an EXTRAORDINARY
day....every day is an extraordinary day.
Today I am making a commitment to myself to make every day EXTRAORDINARY! I invite you to do the same.
To all the people who were touched in some way by this tragedy,
please accept my most sincere heartfelt condolences. May you find peace and comfort in loving
memories and may you live each and everyday to it's fullest.
Lovingly,
Julie Bazinet
Friday, September 6, 2013
OTTAWA REAL ESTATE BOARD-AUGUST NEWS RELEASE-2013-09-05
Ottawa resale market on the up and up
Members of the Ottawa Real Estate Board sold 1,219 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,145 in August 2012, an increase of 6.5 per cent. The five-year average for August sales is 1,202.
"It has been one year since the Canadian Government introduced the new mortgage rules, and although the Ottawa market has been slow-moving since the beginning of the year, this month's numbers are quite the opposite," says Tim Lee, President of the Ottawa Real Estate Board. "With both residential and condo units sold up a respectable amount since last year, it breaks the downward cycle. In addition, average sale prices evened out in August, creating a welcomed lull in inflating property prices."
August's sales included 272 in the condominium property class, and 947 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $348,519, a slight increase of 0.4 per cent over August 2012. The average sale price for a condominium-class property was $257,494, a decrease of 5.4 per cent over August 2012. The average sale price of a residential-class property was $374,663, an increase of 1.8 per cent over August 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Inventory on hand has decreased since last month, and is starting to return to more normal levels," says Lee. "Ottawa continues to be a healthy, balanced market, and as always, a great city to live in. With a strengthening economy and historically low interest rates, Ottawa consumers remain in a very enviable position." Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Members of the Ottawa Real Estate Board sold 1,219 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,145 in August 2012, an increase of 6.5 per cent. The five-year average for August sales is 1,202.
"It has been one year since the Canadian Government introduced the new mortgage rules, and although the Ottawa market has been slow-moving since the beginning of the year, this month's numbers are quite the opposite," says Tim Lee, President of the Ottawa Real Estate Board. "With both residential and condo units sold up a respectable amount since last year, it breaks the downward cycle. In addition, average sale prices evened out in August, creating a welcomed lull in inflating property prices."
August's sales included 272 in the condominium property class, and 947 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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 average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $348,519, a slight increase of 0.4 per cent over August 2012. The average sale price for a condominium-class property was $257,494, a decrease of 5.4 per cent over August 2012. The average sale price of a residential-class property was $374,663, an increase of 1.8 per cent over August 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Inventory on hand has decreased since last month, and is starting to return to more normal levels," says Lee. "Ottawa continues to be a healthy, balanced market, and as always, a great city to live in. With a strengthening economy and historically low interest rates, Ottawa consumers remain in a very enviable position." Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
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