Condo sales help set new record for August unit sales

Members of the Ottawa Real Estate Board sold 1,538 residential properties in August through the Board’s Multiple Listing Service® System, compared with 1,481 in August 2016, an increase of 3.8 percent.

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Condo sales drive the Ottawa resale market in July

Members of the Ottawa Real Estate Board sold 1,530 residential properties in July through the Board’s Multiple Listing Service® System, compared with 1,490 in July 2016, an increase of 2.7 per cent.

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Condo sales lead the way for stellar performance in May

Members of the Ottawa Real Estate Board sold 2,300 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,919 in May 2016, an increase of 19.9 per cent.

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Spring conditions produce blossoming resale market

Members of the Ottawa Real Estate Board sold 1,795 residential properties in April through the Board’s Multiple Listing Service® System, compared with 1,711 in April 2016, an increase of 4.9 per cent.

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Spring market is primed for competitive season ahead

OTTAWA, March 3, 2017 -Members of the Ottawa Real Estate Board sold 1,010 residential properties in February through the Board’s Multiple Listing Service® System, compared with 908 in February, an increase of 11.2 percent. The five-year average for February sales is 872.“Numbers continue to indicate a positive trend for Ottawa as a whole,” says Rick Eisert, President of the Ottawa Real Estate Board. “Even with the additional day in February last year due to the leap year, sales this year are up in both the residential and condo property classes. Keep in mind though, that all real estate is local, and that prices and conditions will vary from neighbourhood to neighbourhood.” “A total of 2,066 homes were listed this month, up almost 25 per cent from January, while inventory on hand still remains low compared to last year,” explains Eisert. “Now is a great time to list your home in anticipation of the increase of buyer interest in the spring that will pick up as early as March.” February’s sales included 233 in the condominium property class, and 777 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 a residential-class property sold in February in the Ottawa area was $417,374, an increase of 8.5 per cent over February 2016. The average sale price for a condominium-class property was $258,397, an increase of four per cent over February 2016. “This month revealed a larger average price gain in the residential property class than usual due to an increase in the number of properties sold in the $750,000 to $999,999 and over $1 million price range, similar to what occurred with condo prices last month,” explains Eisert. “For example, in the over $1 million price range alone, there was a significant increase in sales over last year; 20 units sold in 2017 versus 6 units in 2016. It is important to note that dramatic changes in the average sale price is not indicative of all property values. We encourage buyers and sellers to talk to a REALTOR® for more information about the housing market outlook where they live, or want to live.” “In the residential market the most active price point was the $300,000 to $399,999 range for the month of February, followed by the $400,000 to $499,999 range, combined accounting for 54.6 per cent of the market. The condominium market was most active in the $150,000 to $249,999 price range, accounting for 54.9 per cent of the market,” says Eisert. “In addition to residential and condominium sales, OREB members assisted clients with renting 392 properties since the beginning of the year.”

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2017 resale market off to a great start

Members of the Ottawa Real Estate Board sold 667 residential properties in January through the Board’s Multiple Listing Service®system, compared with 598 in January 2016, an increase of 11. 5per cent. The five-year average for January sales is 614.“The year is off to a great start,with sales up over this time last year, and well above the five-year average,” remarks Rick Eisert,President of the Ottawa Real Estate Board. “Residential-class resales supported this increase, with a 16.6 per cent growth over January 2016.The number of properties listed in January has doubled the amount listed in December, which is very typical of sellers getting a jump start on the spring selling season.”January’s sales included 119 in the condominium property class, and 548 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.“While the numbers indicate a positive trend for Ottawa as a whole, we emphasize that all real estate is local, and prices and conditions will vary from neighbourhood to neighbourhood,” explains Eisert. “We encourage buyers and sellers to talk to a REALTOR® for more information about the housing market outlook where they live, or want to live.” The average sale price of a residential-class property sold in January in the Ottawa area was $394,001, an increase of 1.9 per cent over January 2016. The average sale price for a condominium-class property was $288,655, an increase of 16.8 per cent over January 2016. 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. “The average sale price for the condominium class saw a big increase over last year,” Eisert says.“It’s important to note that three properties sold for over $1 million this January, while none were sold in January 2016. This needs to be taken into consideration when looking at the overall increase in average condo sale price.“In the residential market the most active price point was the$300,000 to $399,999 range for themonth of January, accounting for 35.2 per cent of the market. The condominium market was most active in the $150,000 to $249,999 price range, accounting for 58.7 per cent of the market,” says Eisert.“In addition to residential and condominium sales, OREB members assisted clients with renting 201 properties in January.”

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Donnelly Team presents: FREE SKATE DAY!!

Looking to start the New Year off right – with a Family Skate day!! This is an OPEN invitation to ALL clients, friends and family to join The Donnelly Team at the RICHCRAFT SENSPLEX on Shefford road, February 18th 2017 from 12:15pm-2:00pm. We will start with some hot chocolate and light snacks and then make our way for some skate time at 1pm. We are looking to show off our family values as a Team and think this is a good way to start. So please come on and join in on the fun and bring some friends!

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Archives

December 09, 2016
Condo sales continue to bolster Ottawa resale market
November 06, 2016
Condo sales lead the way to best October on record
October 18, 2016
Brrr It's getting cold out there!
October 18, 2016
Avoiding the dreaded Tenant
October 12, 2016
Staying Active in the Winter
October 08, 2016
No fall(ing) back in Ottawa’s resale market
September 14, 2016
To Dog or not to Dog
September 07, 2016
Record-breaking year for Ottawa resales
August 26, 2016
Fixer Upper Opportunity?
August 08, 2016
Summer resales sizzle in a hot July
July 08, 2016
Record-breaking June for Ottawa resales
June 08, 2016
Sales stay consistently hot through May heat wave
May 13, 2016
Second-best April on record for Ottawa resales
April 06, 2016
A Winter for the Records!
March 31, 2016
Spring Home Maintenance!
March 19, 2016
March resale market springs into action
March 03, 2016
February 2016 OREB News Release
February 11, 2016
Family Day Weekend: What to do
February 07, 2016
January 2016 OREB News Release
January 28, 2016
ArtHaus Ottawa
January 07, 2016
December 2015 OREB News Release
November 25, 2015
Brunch; can’t get enough!
November 14, 2015
Ottawa Museums and Family Attractions
November 10, 2015
Ottawa Parkways & The Canal