OTTAWA REAL ESTATE BOARD-MARCH NEWS RELEASE 2014-04-04

The spring home-buying season is coming into bloom

Members of the Ottawa Real Estate Board sold 1,126 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,160 in March 2013, a decrease of 2.9 per cent.

"Sales picked up month over month, with 256 more properties switching hands in March than in February," says Randy Oickle, President of the Ottawa Real Estate Board. "That's a 29.7 per cent increase, which is to be expected of a spring market."

March's sales included 230 in the condominium property class, and 896 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.

"A total of 2,776 properties were listed in March, indicating that sellers were getting ready the busy spring market," explains Oickle. "The average days on market stood at 49 for the month of March, lower than the average of 61 days in January and February, indicating that properties are starting to move faster as we enter the second quarter of 2014."

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $359,051, an increase of 0.3 per cent over March 2013. The average sale price for a condominium-class property was $251,381, a decrease of 2.1 per cent over March 2013. The average sale price of a residential-class property was $386,690, an increase of 0.2 per cent over March 2013. 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.

"It's a great time to buy or sell real estate," says Oickle. "Talk to an Ottawa-area REALTOR® today for help with buying and/or selling a home, and you will have an ally from start to finish, and everything in between."

The Ottawa Real Estate Board is an industry association of over 3,000 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.

THIS MONTH IN REAL ESTATE - JANUARY 2014

TOP STORY:

Surprising insights into the minds of a buyer.

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:

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.

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.

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.

“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. 

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