Join Colin for a quick update on the latest happenings in Ottawa and beyond. With national unemployment rates and recent changes in the Bank of Canada’s lending rate, the real estate market is experiencing some interesting shifts. Buyers are finding more options, while sellers need to focus on making their properties stand out. For more detailed insights and advice, check out our latest update.
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 June 30, 2023, compared to the same period from January 1, 2024, to June 30, 2024.
Join Colin for our latest market update as he reviews the first half of the year and looks ahead to what’s coming. Thanks for your continued support, and enjoy your summer!
This month, Chris shares insights on the Ottawa real estate market, noting stable sales numbers compared to last year, an increase in new listings, and varied pricing strategies among sellers. Some homes are selling quickly in competitive situations, while others face price reductions. Check out our latest market update for more!
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 May 31, 2023, compared to the same period from January 1, 2024, to May 31, 2024.
In this month’s update, Chris shares intriguing conversations with buyers, sellers, and agents, offering diverse perspectives on the current market. Whether you’re a mid-range buyer or a luxury seller, we discuss how the market trends are impacting you. Stay informed and gain valuable insights by watching our May market update video.
Welcome to our latest market update with Chris Scott! As we navigate the vibrant month of May, traditionally the peak of the real estate season, we’re seeing a mix of eager buyers and strategic sellers shaping the market. This video offers a deep dive into the current dynamics of Ottawa’s real estate scene, where buyers are cautiously hunting for deals and testing the waters with their offers. From fluctuating interest rates to new government mandates affecting workplace locations, Chris discusses the potential impacts on property demands and market momentum. Whether you’re considering selling your home or curious about purchasing near your workplace, stay tuned as we explore these intriguing trends.
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 April 30, 2023, compared to the same period from January 1, 2024, to April 30, 2024.
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 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.
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 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.
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 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!
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.
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.
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.
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.
