STITTSVILLE HOUSING MARKET UPDATE, Q2 2019

Homes sold in Stittsville, Q2 2019

OTTAWA

The average price of a residential-class property in June was $500,700. This is the first time we have ever eclipsed the half-million mark in Ottawa. When I first started in real estate 15 years ago 500k was a big number! People would say half a million like it meant something! Hard to believe it is now just average. Many first time buyers are now buying at this price point. It is just the nature of a really healthy local economy, immigration, and the increasing appeal of our real estate market to investors. Maybe in the next 10 years, 1 million will be just an average number. At this pace, you never know!!

Inventory has been sliding in Ottawa. In June our inventory was down 23% from the same time last year and over 30% from just two years ago. Condo listings were down 50% from 2017. Just the drop in this inventory is enough to put upward pressure on prices. Combine that with growing demand and we are seeing double-digit increases in some neighbourhoods. It is definitely a seller’s market but for the most part, buyers are restraining themselves a little bit. They understand the value, many homes priced on the high side of the market can continue to sit.

STITTSVILLE

Stittsville, in particular, has benefited from this price growth. Much to do with the solid job market. The high-tech sector has been great. Over 30,000 tech jobs in Kanta the headquarters at DND starts to fill up has had many civilian and military staff look at West end suburbs for their real estate needs.

Did you know that the average price of a Stittsville townhouse has gone up over 34% in the past 5 years! Q2 of a real estate market is the most active quarter of the year. This spring has been a swift market for Stittsville, with residential properties selling in 18 days on average. The last time homes sold this quickly in Stittsville was during the first six months of 2010
where the average time to sell was 24 days.

Not only are homes selling more quickly, but their average price also continues to rise. The average price of a row house in Stittsville this past quarter was nearly $414,000. While detached homes sold for $580,000 on average. This represents a 9.7% increase for both categories combined compared to the same period in 2018. (1) Surprisingly enough, with inventory offered for sale down by 10.6% over last year, the number of properties sold was up by nearly 10% for a total of 250 sales. (2)

If you would like to know the value of your home please fill out our home evaluation form.

Home Evaluation

HIGHLIGHTS

Homes Sold from April to June 2019 Compared to April to June 2018

250 – all (↑ 9.6%)
163 – detached (↑ 5.8%)
87 – row and semi-detached (↑ 17.6%)

Average Sold Price from April to June 2019 Compared to April to June 2018

$521,114 – all (↑ 9.7%)
$580,032 – detached (↑ 9.5%)
$413,774 – row and semi-detached (↑ 14.6%)

Average Total Days on Market from April to June 2019 Compared to April to June 2018

18.3 – all (↓ 22.5%)
23.3 – detached (↓ 19.5%)
11.3 – row and semi-detached (↓ 12.8%)

Active Listings from April to June 2019 Compared to April to June 2018

56.3 – all (↓ 10.6%)
46.3 – detached (↓ 10.3%)
10 – row and semi-detached (↓ 11.8%)

Average Months of Inventory from April to June 2019 Compared to April to June 2018

1 – all (↔ 0.0%)
1 – detached (↔ 0.0%)
0 – row and semi-detached (↓ 100.0%)

1) Excludes condominiums, homes on leased land and homes under construction.
2) All data courtesy of the Ottawa Real Estate Board MLS® System. The above Information is believed to be accurate but not
warranted.

    
 
 
        
   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