Last year was the best November on record for resale home sales in Ottawa. This November, sales have come back down to their normal levels. Members of the Ottawa Real Estate Board sold 931 residential properties in November through the Board’s Multiple Listing Service® system, compared with 1,023 in November 2011, a decrease of nine […]
You will likely have recently received your property tax assessment in the mail from MPAC (Municipal Property Assessment Corporation) and you might have some concerns in terms of the assessment accuracy – and what it might do to your property taxes themselves. Firstly – if your home’s value has been accurately assessed – and it […]
As the leaves and the snowflakes fall in Ottawa, the real estate market is headed in the other direction – up! Compared to the five year average, Ottawa is right on track, indicating we are not experiencing a real estate downturn here. Instead we continue to see a slow, steady increase in both units sold […]
According to the Ottawa Real Estate Board, September sales are historically on track in Ottawa. The market here has not experienced volatility in prices or number of units sold. Since 1956, the average price in the Ottawa area has decreased only five times (year over year) and has increased by 15% or more only five […]
August was a bit slow compared to July, but still in line with the five-year average. Even with fewer properties sold, the average price continues to increase. Members of the Ottawa Real Estate Board sold 1,141 residential properties in August through the Board’s Multiple Listing Service® system, compared with 1,328 in August 2011, a decrease […]
The Ottawa Real Estate Market generally remains stable with a slight increase in July sales and a slight decrease in average price – perhaps because lower priced properties continue to sell more quickly compared to unique or higher priced properties. Members of the Ottawa Real Estate Board sold 1,366 residential properties in July through the […]
The Ottawa real estate market is certainly consistent! There was a slight decrease in the number of residential properties sold in June 2012 compared to June 2011. Looking back over the past 10 years, a marginal decrease from May to June seems to be “the norm” and this year is no different. The general feeling […]
For the fourth time in as many years, the finance minister moved to tighten the mortgage and lending landscape. The most significant change is the reduction to the amortization period, bringing it to a maximum of 25 years, the level it had stood historically before rising to as high as 40 years during the heady pre […]
Recently, I have had a few questions come up regarding HST and how it applies to house purchases in Ontario. To make sure it is clear, I have included in this blog all the information you need to know. The biggest change that took effect when the HST came into being was to effectively add […]
The real estate market in the Ottawa area continues to be a healthy one! When you look at the statistics year over year, the increase in sales is significant. When you add to this an increased inventory and gradual price increases, you have all indications of a continued strong, steady market. Members of the Ottawa […]
