Condo sales lead the way for stellar performance in May

​OTTAWA, June 2, 2017 - 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 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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Condo sales continue to bolster Ottawa resale market

OTTAWA, December 6, 2016 -Members of the Ottawa Real Estate Board sold 995 residential properties in November through the Board’s Multiple Listing Service® System,compared with 986 in November 2015, an increase of 0.9 per cent. sales is 939. “After a few breakaway months, the Ottawa resale market has comeback down with sales typical of November,” says new Ottawa Real Estate Board President, Rick Eisert.“The condo market appears to be on the rise now, a welcome change compared to earlier in the year, with sales coming in at 16.2 percent higher than November 2015. Several factors could have contributed to this increase – inventory levels trending downwards, steady prices, or buyers affected by the newly changed mortgage rules.” November’s sales included 230 in the condominium property class, and 765 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. “Year-to-date unit sales to the end of November have now surpassed all previous year-end totals,” explains Eisert. “This year has been an exceptional year for sales for Ottawa Real Estate Board Members, and the year isn’t even over yet. The cumulative days on market have six months of the year, then has shown the same steady increase, so that the cumulative days on market in November (105 days) essentially mirrored that of January (110 days).” The average sale price of a residential-class property sold in November in the Ottawa area was $405,320 an increase of 6.5 per cent over November 2015. The average sale price for a condominium-class property was $277,650, an increase of one per cent over November 2015. The Board cautions that average sale price information can be useful in establishing trends over time but should not be properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. “In the residential market the two most active price points were $300,000 to $399,999 and then $400,000-$499,999 for the month of November, accounting for 50.3 per cent of the market. The condominium market was most active in the $150,000 to $249,999 price range, accounting for 55.2 per cent of the market,” says Eisert. “In addition to residential and condominium sales, OREB Members have assisted clients with renting over 2,900 properties since the beginning of the year.”

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Condo sales lead the way to best October on record

OTTAWA, November 3, 2016 -Members of the Ottawa Real Estate Board sold 1,214 residential properties in October through the Board’s Multiple Listing Service®System, compared with 1,159 in October 2015, an increase of 4.7 per cent. The five-year average for October sales is 1,130. “October’s sales continued the record-breaking resale trend for the third straight month,” says Shane Silva, President of the Ottawa Real Estate Board. “While residential sales are identical to that of October 2015, condominium sales have soared – up by 27.2 per cent over last year. Lower inventory levels,combined with adjusting prices, maybe creating these higher than normal activity levels in the condo property class.” October’s sales included 257 in the condominium property class, and 957 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 new mortgage rules announced at the beginning of October have yet to have an effect on the Ottawa market,as the announcement only came two weeks prior to implementation,”says Silva. “It’s too early to tell what kind of impact the new mortgage rules will have on the Ottawa market going forward. We know that right now Ottawa continues to be a desirable city to live and work, and consumer confidence and job growth remain positive.” The average sale price of a residential-class property sold in October in the Ottawa area was $392,579 an increase of 3.3 per cent over October 2015. The average sale price for a condominium-class property was $251,465, an increase of .01 per cent over October 2015. 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 hottest segments in our market for October continue to be two-storey and bungalow residential homes in the $300,000 to $400,000 price range, followed by one-level and two-storey condos in the $200,000 to $300,000 price range” says Silva. “In addition to residential and condominium sales, OREB Members have assisted clients with renting almost 2,700 properties since the beginning of the year.”

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Brrr It's getting cold out there!

Winterizing your home

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Archives

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
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