Members of the Ottawa Real Estate Board sold 1,420 residential properties in April through the Board’s Multiple Listing Service® system, compared with 1,569 in April 2013, a decrease of 9.5 per cent. With a late spring in terms of weather, it isn’t unexpected to see the market have a later upswing than normal.
That being said, properties sold in April were on the market an average of 45 days, a few days less than what was indicated in March. In addition, 233 more properties changed hands in April than was the case in March so there has been a continued steady pace upwards since year-beginning.
Average sale prices are on par with prices from a year ago, even year-to-date price comparisons remain steady. The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $374,015, an increase of 0.8 per cent over April 2013. The average sale price for a condominium-class property was $258,500, a decrease of three per cent over April 2013. The average sale price of a residential-class property was $399,541, an increase of 0.9 per cent over April 2013.
Every area, however, shows different trends. If you are interested in knowing the value of your property, please give me a call.
The spring home buying and selling season is coming into bloom.
Members of the Board sold 1,189 residential properties in March through the MLS® System, an increase of 2.5% over March of 2013. Things are heating up.
The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $358,741, an increase of 0.3 per cent over March 2013. The average sale price for a condominium-class property was $251,580, a decrease of 2 per cent over March 2013. The average sale price of a residential-class property was $386,553, an increase of 0.2 per cent over March 2013.
Every area is, however, slightly different so please give me a call if you are interested in knowing the value of your property.
I hope you will call me if you are thinking of buying or selling. By the way, referrals play a huge role in the success of my business so please think of me and do mention my name if you hear of any family, friends, neighbours or colleagues who are considering a move. I’d be delighted to have the opportunity to provide them with my real estate services.
It was a beautiful sunny morning in the capital. I was driving on a quiet Centertown street with a speed limit of 40km/hr. heading to show a house to a great client.
As I approached the house I saw my client and waved. I checked the mirrors and went to make a three point turn. Out of nowhere, a car smashed into the side of my SUV. It was travelling at over 130 km/hr. The only reason I survived was because their back end smashed my front end as they were swerving out of control.
What happens next is shocking. The car that hit me crashed into other parked cars. I expect them to finally stop but no, they start speeding away! That is when the police cars fly by. About 8 in total. Guy had just robbed a bank and was in a police pursuit. One cop stopped to make sure I was ok then went off in the chase.
Felt like I was on a movie set. Except I had a job to do! Takes more than a high speed police chase and accident to stop me from doing what I do. I showed my buyer the house as we waited for the police to come back. Clients come first!
FYI-cops got their man a few blocks away in a foot pursuit.
The move of DND to the Nortel campus has a green light.
The review is over and it has been formally announced that upwards of 9,000 Ottawa Military members will be moving their place of employment to the old Nortel Campus in Bells Corners. The campus will, eventually, be renamed.
The first wave (approx. 3,300 people) will move in late 2015. The entire move will take about 6 years.
For Bells Corners and west Ottawa – this is HUGE – the incoming numbers are more than were lost with the collapse of Nortel.
This consolidation will reduce DND’s current footprint from 40+ offices to 7 major locations in the National Capital Region – 3 in Ottawa (one west, one downtown and one east), and 4 in Gatineau.
Many military members will consider moving west from their current place of residence. For those who don’t want to move, there will be a shuttle bus service between the 7 locations.
There are rarely a lot of homes for sale in Bells Corners so there will likely be a spike in home values – and perhaps the development of at least one condo tower, apartments or row homes.
Ottawa house hunting trips for military personal posted to Ottawa will now be potentially west-end focused. Areas like Kanata, Stittsville, and Bells Corners will see an uptick in activity for sure.
If you know your job will be one of those moving – and you want to consider moving to be closer to your place of work, now is the time to take action! Give me a call if you’d like to chat about this.
It has been a pleasure helping so many military families transition into and out of Ottawa. Being the Nations capital we are a very popular destination for service members during posting season.
Having the right service providers is an integral part of the house hunting process. I have been fortunate over the years to align myself with like-minded individuals who are at the top of their respective fields. I have partnered with the best home inspectors, water specialists, septic inspectors, lawyers, mortgage brokers, and anyone else who might be required during the HHT. They are all a part of the program and bill Brookfield directly. Ensuring success on the HHT requires having these type of professionals on call and in many cases pre-booked.
If you have any questions on the professional network we use or would like to learn more about our services, please feel free to email meor call me at 613-863-6999.
In the Ottawa housing market, it is more likely to find condominiums than it is to find co-operatives – but you should know the differences between them before you start to look.
Condominium ownership
The homeowner owns the unit and shares ownership of common elements. Condos are usually apartment buildings, but also include townhouse developments and developments of detached buildings on private roads.
The homeowner is responsible for the interior area of the unit (everything from the plaster in). The condo association is responsible for the up-keep of the exterior of the building, common interior elements (halls, elevators and parking garages, for example) and the grounds.
All condo owners pay a monthly fee to the condominium association to cover maintenance costs and common utility fees and taxes.
Condos often have strict rules regarding noise, use of common areas and renovations to units. Condominium residents often enjoy less privacy than residents of detached homes.
Condos are usually less expensive than freehold houses.
Co-operative ownership
Co-operatives (or co-ops) are similar to condos but instead of owning your unit, you own a share in the entire building or complex.
Co-op residents pay for maintenance and repairs through monthly fees and are subject to the rules and regulations of the co-op board.
If you decide to sell your shares and move out, the co-op board has the right to reject your prospective buyer.
When you have decided to purchase an Ottawa Condo – or a co-operative, it costs you absolutely nothing to engage the services of a knowledgeable Realtor®. The seller (whether new or resale) covers the brokerage fees.
I think we are all wondering if Spring will ever come or even more– if Winter will ever end!
Members of the Ottawa Real Estate Board sold 870 residential properties in February through the Board’s Multiple Listing Service® system, compared with 903 in February 2013, a decrease of 3.7 per cent.
This year over year decrease in sales is perhaps due to the unusually cold weather or the distraction of the Olympics, but sales ARE up on a month-to-month basis. The market has picked up as we approach the busiest time of the year – 282 more homes were sold in February, over January.” February’s sales included 197 in the condominium property class, and 673 in the residential property class.
The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $353,407, an increase of two per cent over February 2013. The average sale price for a condominium-class property was $257,752, a decrease of 2.3 per cent over February 2013. The average sale price of a residential-class property was $381,407, an increase of 2.1 per cent over February 2013. Each area, however, has differences so if you are interested in what your property might be worth on today’s market, give me a call.
