While the market remains balanced, homes are taking longer to sell—often 30 to 60 days—unless they’re well-priced and in good condition. Sellers holding out for last year’s prices are finding they need to make significant price reductions.
Also, an important update on capital gains tax: properties over $250,000 will soon see a tax increase to 66%. This change, effective June 25th, affects many, particularly investors relying on real estate as part of their retirement planning. This policy could prompt investors to sell before the tax hike impacts their returns.
Dive deeper with Chris’s predictions below. And, as always, if you’re curious about the latest trends in your neighbourhood, our team would love to provide a personalized assessment of what your home could fetch in today’s market
We recently had the pleasure of handling the sale of a luxury home in Westboro. It was the second time I had the pleasure of working with these wondeful clients. In a market where similar high-end listings often sit unsold for extended periods, we were able to successfully list and sell this property in just a few short weeks. Our success was due to a combination of strategic marketing and thorough preparation by the home owners. Here’s a detailed look at the methods that led to this achievement.
Staging with Kids:
Staging a home can be a challenge, especially with young children around. Following our stager’s initial consultation, the sellers undertook a massive decluttering effort. This included renting a storage locker to put some stuff in until the move to the next property. This set the stage for professional staging, which transformed their living spaces into a buyer’s dream. Our staging team hit it out of the park on this one as you can see from the pictures below.
Professional Painting:
A fresh coat of paint is essential in creating a flawless presentation, especially in the luxury market. Our expert painter was called in to touch up the walls, ensuring that every room gleamed and added to the home’s upscale appeal.
The Floors:
The hardwood flooring received a necessary refresh; the owners had the floors professionally refinished at the front steps. This update was crucial in enhancing the property’s luxurious feel and ensuring a stellar first impression.
Photos:
For marketing this high-calibre property, we entrusted only professional photographers. This strategic choice guaranteed that the home was showcased in the most flattering light possible, capturing its elegance and fine details.
Video:
Video tours are an effective tool to highlight unique features of the home, providing a dynamic visual experience that static images cannot match. We filmed both a full-length cinematic video as well as specialized videos for social media to ensure maximum exposure. It gives me the agent a chance to talk directly to consumers about some of the great features of this home!
3D Tour:
Virtual reality meets home marketing with our 3D tours. These tours allow potential buyers to navigate through the property from the comfort of their own homes, greatly expanding the reach and impact of our listings.
Agent Open House:
The day after listing the home on MLS, we hosted an open house exclusive to agents. This event was well-attended by agents from various brokerages, providing them an opportunity to explore the property firsthand and see if it was a potential match for their clients.
Negotiations:
The negotiation process was very positive between us and the buyers representative. It was a collabrative effort where all sides felt like they had a win. Having a house with immaculate presentation and robust marketing strategies helped the seller meet their goal and beyond. This approach facilitated a quick and favourable sale, with the offer being secured within the first week of listing.
The Final Result:
This comprehensive and meticulous approach to preparing and presenting the home paid off. While other homes sit on the market, ours moved swiftly to a successful firm sale, reflecting the effectiveness of our methods and the desirability of the property in Westboro’s competitive real estate landscape.
In Ontario’s real estate market, staying one step ahead is crucial, especially with recent legislative changes making exclusive listings—homes not advertised on the public market—more private than ever. But accessing these hidden gems just got easier for our clients, thanks to our partnership with Knokd.
Exclusive listings offer a unique advantage: they benefit sellers seeking privacy and buyers eager for less competition and early access to unique properties. With Ontario’s new legislation tightening rules around advertising these properties, they’ve become even more elusive. That’s where Knokd comes in.
Knokd is our secret weapon. This program allows us to share with you listings that are coming soon or are exclusively available, ensuring you’re first in line for properties that perfectly match your criteria—properties you won’t find on MLS or online platforms.
With our expertise and exclusive access through Knokd, we’re not just finding you a home; we’re uncovering opportunities that others don’t even know exist. Ready to step ahead in Ontario’s competitive real estate market? Get in contact today!
Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to March 31, 2023, compared to the same period from January 1, 2024, to March 31, 2024.
As the temperatures rise, so does the activity in the Ottawa real estate market. Buyers are emerging again, actively making offers on properties that are well priced and present well. While some sellers are hanging on to 2022 inflated prices they tend to remain sitting on the market.
The Bank of Canada’s target inflation rate stands between 1-3%, with our current standing at 2.9%. Although we’re within the target range, we’re not at the lower end, which is why we did not see an interest rate adjustment this past week. If we get that closer to 2% we might see some rate relief by June. Despite this, buyers are already factoring in possible changes and maintaining consumer confidence amidst a market of low inventory. This begs the question: will we maintain a balanced market, lean toward a seller’s market again, or shift to a buyer’s market.
Dive deeper with Chris’s predictions below. And, as always, if you’re curious about the latest trends in your neighbourhood, our team would love to provide a personalized assessment of what your home could fetch in today’s market
Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to February 28, 2023, compared to the same period from January 1, 2024, to February 29, 2024.
Spring is approaching, and the real estate market, after a unique start in 2024 with hesitant buyers and sellers, is showing signs of optimism. Check out why we expect a pickup in activity as confidence grows, anticipating a dynamic and bustling season ahead. If you have questions about what’s happening in your neighbourhood, please don’t hesitate to get in touch. My team and I would love to have a chat with you.
Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2023, to January 31, 2023, compared to the same period from January 1, 2024, to January 31, 2024.
Here’s the newest Suburban Statistics Series update. We’re highlighting stats for the five biggest urban neighbourhoods in Ottawa. Since Ottawa is pretty spread out, it’s interesting to see how things vary in each area. These stats are all based on MLS OREB sales from January 1, 2022, to December 31, 2022, compared to the same period from January 1, 2023, to December 31, 2023.
It has been an interesting 2023, to say the least! As interest rates go up, prices have been coming down. Sellers need to adjust their expectations while buyers finally have a chance to negotiate deals. New legislation that allows open bidding will definitely add an interesting twist to the market as we head into 2024. If you have questions about what’s happening in your neighbourhood, please don’t hesitate to get in touch. My team and I would love to have a chat with you.
