From the blog...

Stittsville Report

Posted on: January 16th, 2025 by Chris Scott

This year will be an interesting one for the Stittsville Real Estate market. It will be shaped by local and national factors. With a potential federal election as early as April, a shift in government could lead to policy changes, including cost-cutting measures that might impact federal jobs and the housing market. On a positive note, there’s hope for progress in Ottawa’s slow building permit process, potentially setting the stage for future growth. Easing inflation and anticipated interest rate cuts could boost buyer demand, though economic uncertainty, including possible U.S. tariffs, remains a concern.

Stittsville is one of Ottawa’s most desirable neighborhoods, this is reflected in the premium that buyers have to pay when compared to other Ottawa suburbs. My expectation is that prices will rise in the 4-6% range this year. Quality of life and community are strong factors for many buyers and Stittsville remains at the top of the list for our out of town and military clients relocating here.

INTEREST RATES, INFLATION, AND THE ECONOMY

In 2024, the Bank of Canada (BoC) cut the policy rate from 5% in late 2023 to 3.25% by December to stimulate growth amid rising unemployment and economic uncertainties. The real estate market responded positively, with increased buyer activity and improved affordability. Inflation also declined, reaching 1.9% in November, down from 2.0% in October. Interestingly, Canada includes mortgage interest in its inflation calculation (one of the few countries to do so, alongside Iceland). This led to a counterintuitive effect where rate hikes aimed at reducing inflation actually kept it elevated. Looking ahead to 2025, the BoC is expected to lower rates further, with forecasts suggesting a policy rate of 2.25% by year-end. Inflation is projected to remain near the 2% target, supporting GDP growth of around 2% over the next two years.

Population Growth

Ottawa’s population has been experiencing steady growth in recent years. As of 2024, the city’s population is estimated at approximately 1,070,889, reflecting an annual growth rate of about 1.72% since 2016. Looking ahead, projections indicate that Ottawa’s population will continue to rise. The City of Ottawa anticipates an increase of approximately 402,000 residents from 2018 to 2046, bringing the total population to nearly 1.41 million by 2046. Our building department is not the best. This sustained population growth is expected to drive demand in the real estate market, influencing housing availability and pricing. As more individuals and families choose to make Ottawa their home, the city’s real estate landscape will continue to evolve, presenting both opportunities and challenges for buyers, sellers, and investors.

Keep an Eye Out for Our Military Letter!

Every year, we send out tens of thousands of letters to connect with homeowners who might be considering selling their property. These letters are a key part of our commitment to supporting military relocation. By working with us, sellers can explore the opportunity to match their home with one of the many military members moving into our area, ready to buy with our team.

If you’re thinking about selling and want to get ahead of the curve, don’t wait—reach out to us today!

    
 
 
        
   Anny Metivier 
 2024-08-13
 
 
  Over the years, with multiple military moves, we’ve had the opportunity to work with many real estate agents, and we can confidently say that not all are created equal. Chris, by far, has been the most trustworthy and easiest real estate agent we’ve had the pleasure to work with.
  
 
       
   Jake Moffat 
 2024-06-07
 
 
  Colin has been the best realtor to work with and helped us buy a great house in the perfect neighborhood. Colin and the rest of the team at Chris Scott were incredibly helpful the whole way and always available to answer questions, show us houses at a time that was convenient for us and were just generally professional and friendly during the whole process. We will recommend Colin and the team to our friends and family.
  
 
       
   Faith Woodley 
 2024-03-13
 
 
  I was a co-Executrix of an estate, and we had a condo that we had to sell for the estate.  In order to get the property ready for sale, we had to have the over 5,000 square foot condo painted and the carpets replaced.  Since the property was empty, Chris recommended a home stager that he uses on properties that require these services, and she did a fantastic job of staging the condo. It took the condo to the next level. The condo sold for a phenomenal price, and we were very happy with Chris Scott and his abilities.  He always gives over 100 percent to get the job done!  I recommend him to anyone that requires the services of a great real estate agent.
  
 
       
   Emily Bozanich 
 2023-10-07
 
 
  We worked with Rachel and she was beyond diligent. She is so organised and meticulous with details, it really helps when buying a home. She even agreed to do a virtual walk through for the home we ended up buying because we weren’t going to get there ourselves prior to offers being reviewed. She was also great with recommending areas to consider and avoid. Highly recommend.
  
 
       
   Cy Dixon 
 2023-10-06
 
 
  Rachel was amazing. She helped me find the perfect home for me and my son during a challenging time in my life. She was extremely patient and empathetic, professional and knowledgeable. I highly recommend her. No one will work harder for you than Rachel.
  
 
       
   Jeff C 
 2023-10-06
 
 
  Awesome realtor team very helpful and knowledgeable
  
 
       
   Nathalie Groupe Godin 
 2023-10-06
 
 
  Great service. Very knowledgeable. Super helpful. I’d use this team again.
  
 
       
   D Hynders 
 2023-10-05
 
 
  I recently used Chris' team to purchase a new house and I have to say that it was a pleasure to work with them.
  
 
       
   Megan Bixby 
 2023-10-05
 
 
  My husband and I purchased a house in the surrounding Ottawa area with the assistance of Colin from this group of individuals. We unfortunately were left with no choice but to purchase a home sight unseen due to our work circumstances. We originally considered not purchasing because of this.
We deliberated and chose to purchase a home after participating in FaceTime showings and we could not have been more satisfied. Colin was objective, professional, calm, informative, and realistic. He listened to our needs and helped us choose our home. The fact that we were pleasantly surprised, and a year later remain pleased as punch, says everything about how talented this company is. Will, without a doubt, use this company when we leave Ottawa.
  
 
       
   André Desjardins 
 2023-10-04
 
 
  We worked with Chris to find a home back in 2011 that would suit our desire to be close to work. He was nothing but professional and courteous! Listening to our needs and showing us what we were looking for. Years later, when we thought about down sizing and finding a renovated home, he took us around to see some in the neighborhood. He always open to helping us out in our searches

From the blog...

Stittsville Report

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