Real Estate

Ottawa Real Estate market discussion

  • Last Updated:
  • Jun 18th, 2019 1:32 pm
Tags:
None
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
I wonder if the softening market will have a ripple effect on the number of realtors dropping out or maybe not as we are seeing in this article.

http://business.financialpost.com/2014/ ... le-agents/

I know the Usher Group (one of the more well-known discount brokerage firm in the city) only had a handful of agents when we listed with them 2 years ago and now they have almost 20!
[removed]
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
chipspew wrote:
Apr 27th, 2014 6:51 pm
Thanks. I heard there will be much commercial development behind the YIG/Home Depot mall. Have you heard that too?
I saw the sign for Myers Toyota and Barrhaven Toyota coming to the business park on Strandherd. I surmise Costco (and other retailers) won't be too far behind.

This will increase the property values for the homes in that area. Yes there will be more traffic and noise but there will be more people working/living/shopping/doing business here in the foreseeable future.

Certainly beat the empty parcel of land it currently is.
[removed]
Banned
May 7, 2014
188 posts
25 upvotes
Westmount, QC
[QUOTE]
Here is latest Ottawa RE stats that extracted from the last week Open House CFRA Open House show:

http://proxy.autopod.ca/podcasts/chum/1 ... 140524.mp3

Current (as of last weekend) inventory is sitting at 9788 active listings in Ottawa, with expectations that we may hit 11 000 listings this year! For comparison, last year active listings had PEAKED at 8800 sometime in the middle of the summer, don’t compare that number with this year’s May. Right now Ottawa is operating on 38% success rate, that means that 62 % homes are not even selling. After 21 weeks, year to date we have on average 703 listings per week, and there is only 268 sales per week. Every single year prior to this year, we seemed to have anywhere between 30 000 to 32 000 listings hit the market, and around 15 000 for demand. This year, we might hit 34 000 to 35 000, but the demand this year instead of 15 000 homes is going to be only 14 000 (estimated). Last year we’ve had 47 % success rate, and we going to be hovering somewhere around 40 % this year. In 2012 we’ve had 51 % success (home sales), 2011 – 53% success rate, and in 2010 there was 58 % success rate.

The difference between listing price and actual selling price split in two between residential and condominium markets; residential active price is on average 16 % or $ 61 000 higher then the average sold price. When it comes to condos the average is 18 % or $56 000 higher then average sold.[/QUOTE]

Refreshing!
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
Marnie Bennett, the self-styled Condo Queen of Ottawa, mentioned on her radio show earlier the average days on market for condos is 50 and average days on market for residential units is 40.

A timely article here regarding the public service and Ottawa economy. It's a bit of a read so I won't copy and paste here

http://ottawacitizen.com/news/local-new ... c-servants
[removed]
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
Ottawa Home Sales stable in May



After a sluggish April, the number of residential properties sold in May was down only slightly compared with the same month last year, according to the Ottawa Real Estate Board.

(Stock image)

Real estate agents in the city sold 1,792 residential properties last month, just five fewer than in May 2013, or a 0.3 per cent decrease. The number is still up 27 from the five-year average for May.

“April was a bit slow for the Ottawa market,” Ottawa Real Estate Board President Randy Oickle said in a statement, “but it appears that with the great weather in May, buyers have come out of hibernation.”

The latest numbers show residential properties are performing better than condos, but prices are up across the board.

The average sale price of all residential properties, including condos, was $381,172, up 3.2 per cent over last year. Condo prices were up 6.9 per cent at $280,661 and all other residential properties were up 2.1 per cent at $401,626.

So far this year, Ottawa agents have sold 5,854 residential properties, down 2.8 per cent from the year-to-date numbers in 2013.

http://www.obj.ca/Real-Estate/2014-06-0 ... EB%0D%0A/1
[removed]
Deal Fanatic
Dec 5, 2009
5058 posts
2836 upvotes
Soft landing in full effect.
Banned
May 7, 2014
188 posts
25 upvotes
Westmount, QC
canabiz wrote:
Jun 5th, 2014 11:22 pm
Ottawa Home Sales stable in May



After a sluggish April, the number of residential properties sold in May was down only slightly compared with the same month last year, according to the Ottawa Real Estate Board.

(Stock image)

Real estate agents in the city sold 1,792 residential properties last month, just five fewer than in May 2013, or a 0.3 per cent decrease. The number is still up 27 from the five-year average for May.

“April was a bit slow for the Ottawa market,” Ottawa Real Estate Board President Randy Oickle said in a statement, “but it appears that with the great weather in May, buyers have come out of hibernation.”

The latest numbers show residential properties are performing better than condos, but prices are up across the board.

The average sale price of all residential properties, including condos, was $381,172, up 3.2 per cent over last year. Condo prices were up 6.9 per cent at $280,661 and all other residential properties were up 2.1 per cent at $401,626.

So far this year, Ottawa agents have sold 5,854 residential properties, down 2.8 per cent from the year-to-date numbers in 2013.

http://www.obj.ca/Real-Estate/2014-06-0 ... EB%0D%0A/1
How is the inventory?
Sr. Member
Aug 6, 2014
757 posts
199 upvotes
Ottawa, ON
Glad to see things are still going down slowly!
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
MindGamer wrote:
Jun 6th, 2014 6:27 am
How is the inventory?
I think it is about 10K listings with 20%+ being condos.
fisher44 wrote:
Jun 6th, 2014 9:39 am
Glad to see things are still going down slowly!
If you are a home/condo owner, you don't want to see this but if you are in the market for something then I agree with you.
[removed]
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
Some interesting stats (small sample size, granted) from a local realtor's flyer today.

Barrhaven listings and solds since March 1, 2014

Single: 215 listings and 99 solds for 46%
Freehold townhouses: 164 listings and 109 solds for 66.5%
Condos: 56 listings and 38 solds for 68%

It looks like the less expensive homes are moving well. I imagine the numbers are likely similar for other 'burbs, namely Orleans, Kanata, Stittsville, Riverside South etc.
[removed]
Deal Fanatic
User avatar
Jun 28, 2003
9827 posts
2968 upvotes
Ottawa
It will be interesting to see how the Liberal majority will have an impact on the Ottawa housing market, if at all.

We know they support the second phase of LRT and will provide some funding whereas Tim Hudak has been flip-flopping on this issue.

It is also possible Tony Clement may make a run for the Ontario PC leadership. It remains to be seen if public servants will breathe a sigh of relief and may subsequently be more inclined to make big financial decisions, knowing their jobs maybe safe(r).

Finally the 100K provincial public servants should feel better. I know there aren't that many provincial public servants in Ottawa (compared to their municipal and federal counterparts) but this (Liberal majority win) is certainly re-assuring for them.
[removed]
Deal Addict
User avatar
Feb 22, 2013
2028 posts
171 upvotes
Ottawa, ON
I'm in the Ottawa market now for a first-time house or townhouse. $200k-ish price range for a 2 bed, 2 bath townhouse in the Kanata area (near the Nortel Campus if possible).
Deal Addict
Aug 1, 2008
1554 posts
74 upvotes
Ottawa
CWatson87 wrote:
Jun 16th, 2014 7:28 am
I'm in the Ottawa market now for a first-time house or townhouse. $200k-ish price range for a 2 bed, 2 bath townhouse in the Kanata area (near the Nortel Campus if possible).
I think you're going to need a time machine to go back to 1997 or so. That's what I paid for my town back then. If you found one at that price today it's not going to be in
a very nice neighborhood
Member
Jul 11, 2009
259 posts
69 upvotes
If you don't mind living in Bell's Corners or a condo townhome in Kanata you can find something close to that.
[OP]
Deal Addict
Nov 26, 2004
2288 posts
372 upvotes
CWatson87 wrote:
Jun 16th, 2014 7:28 am
I'm in the Ottawa market now for a first-time house or townhouse. $200k-ish price range for a 2 bed, 2 bath townhouse in the Kanata area (near the Nortel Campus if possible).
I believe you can get a brand new 2 bedroom, 2 bath Village Townhome (Appleby) at Monohan Landing for under $230k.

Top

Thread Information

There are currently 10 users viewing this thread. (7 members and 3 guests)

jonatuna, jk9088, Sazerac, edvc520, Applesmack, cyberfreak123, mqc1986