Real Estate

Ottawa Real Estate market discussion

  • Last Updated:
  • Nov 23rd, 2020 6:55 pm
Deal Addict
Jan 15, 2017
3514 posts
2866 upvotes
A 8.8% price increase is good news. I had hoped that there was some pent up demand in the market from the previous 5 years of low growth. Since 1956, the average price increase has been 6.47%. This fell to 1.6% from 2012 - 2016. Hoping that the next couple of years will gain back some of those lost gains.
Banned
User avatar
May 12, 2004
9759 posts
4113 upvotes
Ottawa
audiorichard wrote: Ottawa resale market proves strong in first half of 2017

July 6, 2017

Members of the Ottawa Real Estate Board sold 2,162 residential properties in June through the Board’s Multiple Listing Service® System, compared with 1,985 in June 2016, an increase of 8.9 per cent. The five-year average for June sales is 1,818.

“We’re having a stellar year so far in 2017. Year-to-date sales numbers for the first half of the year are up in both the residential and condo property classes, combined coming in at a 13.5 per cent increase over the same time period in 2016,” says Ralph Shaw, President-Elect of the Ottawa Real Estate Board. “Average sale price in both the residential and condo class is up in the first half of 2017 compared to last year, although not a significant amount.”

June’s sales included 408 in the condominium property class, and 1,754 in the residential property class. “Listings and inventory levels continue to trend downwards, and REALTORS® report an increase in multiple offers on properties in some pockets around the city,” says Shaw. “While some areas within the Ottawa market are very active in sales, there are other areas of the city that remain very balanced and steady.”

“Something we hadn’t seen for years, is the recent rise in the lifestyle market in both the residential and condo property class, with 46 over $1 million units sold in June, and 171 units over $1 million sold since the beginning of the year,” says Shaw. “Both numbers are more than double the amount sold last year. It indicates that home buyers are looking beyond their basic needs to check off more boxes from their wish lists such as view, downtown location, or acreage property.”

“Since the announcement in April by the Ontario Liberal government of cooling measures in Toronto, it’s no surprise that the Ottawa market has been thriving. Not only is Ottawa an affordable place to live, it’s also very desirable,” says Shaw. “We have a great mix of city life and rural expanses. It’s no wonder MoneySense just named Ottawa as Canada’s best place to live in 2017.”

The average sale price of a residential-class property sold in June in the Ottawa area was $434,502, an increase of 8.8 per cent over June 2016. The average sale price for a condominium-class property was $289,905, an increase of 9.4 per cent over June 2016. The Board cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.

“The most active price point in the residential market continues to be the $300,000 to $399,999 range, accounting for 35.1 per cent of the market. Within the condo market, the most active price point was between $150,000 and $249,999, accounting for 50.8 per cent of the market,” says Shaw. “In addition to residential and condominium sales, OREB Members assisted clients with renting 1,496 properties since the beginning of the year.”
As a follow-up to your story...

Ottawa house price gains outpace those of Toronto

http://ottawacitizen.com/news/local-new ... of-toronto

..not that it's necessarily a good thing. there are many pros and cons to this.
Censorship is telling a man he can't have a steak just because a baby can't chew it.
- Mark Twain
Deal Expert
User avatar
Jun 23, 2005
21676 posts
158726 upvotes
GTA
Yeah, saw this article on CBC.ca this morning as well:

http://www.cbc.ca/news/canada/ottawa/re ... -1.4193916

The foreign buyers just keep moving east. Saw a news segment a few weeks ago indicating Montreal is a pretty hot market as well.

On a side note, having looked at a LOT of Ottawa listings at one point when I was toying with the idea of relocating, I can say that Ottawa homes, on average, seem to be far more appealing than homes in the GTA. Design-wise, curb appeal, and in particular, they appeared to be a lot more well-maintained/have more 'pride of ownership' than many of the dumps we see in the GTA, especially at the lower to mid segment of the price spectrum.
Sr. Member
Aug 14, 2007
520 posts
275 upvotes
Ottawa
toguy wrote: Yeah, saw this article on CBC.ca this morning as well:

http://www.cbc.ca/news/canada/ottawa/re ... -1.4193916

The foreign buyers just keep moving east. Saw a news segment a few weeks ago indicating Montreal is a pretty hot market as well.

On a side note, having looked at a LOT of Ottawa listings at one point when I was toying with the idea of relocating, I can say that Ottawa homes, on average, seem to be far more appealing than homes in the GTA. Design-wise, curb appeal, and in particular, they appeared to be a lot more well-maintained/have more 'pride of ownership' than many of the dumps we see in the GTA, especially at the lower to mid segment of the price spectrum.
I guess two things that stop people moving from GTA are: 1. Language 2. Job

Most of the people in Ottawa are bilingual and the jobs market is very narrow here as well when we compare with GTA. And you will see lots of middle class living in Ottawa, it is hard to find someone who are super rich or super poor in Ottawa. Every family are pretty much the same.
Sr. Member
Aug 6, 2011
590 posts
261 upvotes
Can anyone explain to me what's going in the area Hunt Club/Windsor Park? With 27% price increase since last year!? I know for sure the LRT has some impact here, but it can't be only that?
I'm curious about Alta Vista (hospital)/Riverview park area. I can't find the district in the stats.
Sr. Member
Aug 14, 2007
520 posts
275 upvotes
Ottawa
cyberfreak123 wrote: Can anyone explain to me what's going in the area Hunt Club/Windsor Park? With 27% price increase since last year!? I know for sure the LRT has some impact here, but it can't be only that?
I'm curious about Alta Vista (hospital)/Riverview park area. I can't find the district in the stats.
Where can you find the area breakdown stats?
Banned
User avatar
May 12, 2004
9759 posts
4113 upvotes
Ottawa
Image
Censorship is telling a man he can't have a steak just because a baby can't chew it.
- Mark Twain
Deal Addict
Nov 13, 2013
2340 posts
1136 upvotes
Ottawa
cyberfreak123 wrote: Can anyone explain to me what's going in the area Hunt Club/Windsor Park? With 27% price increase since last year!? I know for sure the LRT has some impact here, but it can't be only that?
I'm curious about Alta Vista (hospital)/Riverview park area. I can't find the district in the stats.
I am mostly speculating as I don't know this area too well but the newer subdivisions over the past 10 years have been a lot nicer than some of the cheaper stuff that was built previously in this area so the more recent sales could be in fact nicer houses. The index controls for age but may not reflect the increased quality. The other factor is this area is cheap given its location so has more room for growth. Look at only 5% growth in Rockcliffe for example.
Deal Addict
Nov 11, 2004
3161 posts
329 upvotes
Ottawa
Cas77 wrote: Image
Thanks for doing that :) Send me a pm if you want to share the info on howto ;)
Hello
Banned
User avatar
May 12, 2004
9759 posts
4113 upvotes
Ottawa
Click on the picture in the citizen article, it opens a new window with just the picture. Copy URL.

5th icon above the reply window where you type is a picture icon. Click it, a small window with a field pops up. Paste in there hit "Post" and waaa-law!
Censorship is telling a man he can't have a steak just because a baby can't chew it.
- Mark Twain
Deal Addict
Nov 11, 2004
3161 posts
329 upvotes
Ottawa
Cas77 wrote: Click on the picture in the citizen article, it opens a new window with just the picture. Copy URL.

5th icon above the reply window where you type is a picture icon. Click it, a small window with a field pops up. Paste in there hit "Post" and waaa-law!
Wow about 10x easier then i thought

Thanks
Hello
Deal Addict
Nov 11, 2004
3161 posts
329 upvotes
Ottawa
Image

Check this one out aswell

;) IT WORKED!
Hello

Top

Thread Information

There are currently 7 users viewing this thread. (2 members and 5 guests)

shaneLM, OttawaGuy2020