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Ottawa Real Estate market discussion

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Deal Addict
Jan 15, 2017
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William W wrote:
Feb 18th, 2018 7:56 am
Thanks for looking that up. Do you know if that's the highest outside Kanata Lake? Never thought a Town can sell for that much out in Kanata.
Off the top of my head, I know there are towns like The Marshes in Kanata that are now selling for $600K+. I also recall some 3 story luxury units with elevators (technically still towns) that were over $500K. A 18' wide Minto town for $470K though is a surprise.
[OP]
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Nov 26, 2004
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skeet50 wrote:
Feb 18th, 2018 8:07 am
Off the top of my head, I know there are towns like The Marshes in Kanata that are now selling for $600K+. I also recall some 3 story luxury units with elevators (technically still towns) that were over $500K. A 18' wide Minto town for $470K though is a surprise.
Yes, that is approximately $170k over Minto's base price. So minus the buying and selling expenses, the upgrades and the holding expenses, that is probably still a $100k net profit in 2 years of ownership. Oh well, too bad I didn't have the nerves to speculate.
Deal Addict
Jan 15, 2017
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It's great to see that the town sold. Friday we were looking at the towns offered by HN Homes. A really nice product, no doubt about it. One town would be in excess of $460K with a lot premium and it had me wondering what the resale appetite would be in that price range.
Deal Fanatic
Jul 4, 2004
5012 posts
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Ottawa
William W wrote:
Feb 18th, 2018 7:56 am
Thanks for looking that up. Do you know if that's the highest outside Kanata Lake? Never thought a Town can sell for that much out in Kanata.
I don't remember the street names (and I'm not very familiar with Kanata neighborhoods) but the highest ones not in 9008 (district code around Kanata Lakes I believe) was around $550k last summer not too far from the one you mentioned but on the other side of Terry Fox (around Kanata Ave / Terry Fox intersection). There were a few in the lower $500k.
Deal Fanatic
Jul 4, 2004
5012 posts
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Ottawa
skeet50 wrote:
Feb 18th, 2018 8:07 am
Off the top of my head, I know there are towns like The Marshes in Kanata that are now selling for $600K+. I also recall some 3 story luxury units with elevators (technically still towns) that were over $500K. A 18' wide Minto town for $470K though is a surprise.
Yes, that's where a bunch of the higher sales were.
Deal Addict
Jan 15, 2017
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skeet50 wrote:
Feb 14th, 2018 2:06 pm
Another sold on my street. Was listed on Com Free less than 2 weeks ago and the Sold sign in up today. This is the same model that sold earlier in 4 days in a bidding war.

Interesting also that the agents for the home that sold in 4 days canvassed the neighbourhood looking for people wanting to list as they had buyers wanting to buy (that was the claim, anyway). Two days ago a For Sale sign appeared on another neighbour's snow bank. Same model. Same realtor with an Exclusive listing. I am expecting a Sold sign on that very shortly.

Of course, these are just my observations about what is happening in my neighbourhood. And for those that are interested, it is indeed in Orleans.

Update: The Exclusive listing had an open house last weekend and I was expecting to see a SOLD sign this week. Realtor was there again today to put up another Open House sign. So I am guessing that last week's open house didn't produce any positive result. I know the sellers personally so I am hoping that the Exclusive listing works for them.

On another note - one of the homes that was listed prior to Xmas has sold. And today, a townhome went on the market. Will be interesting to see how long that lasts.
Deal Fanatic
Jul 4, 2004
5012 posts
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Ottawa
skeet50 wrote:
Feb 23rd, 2018 3:56 pm
Update: The Exclusive listing had an open house last weekend and I was expecting to see a SOLD sign this week. Realtor was there again today to put up another Open House sign. So I am guessing that last week's open house didn't produce any positive result. I know the sellers personally so I am hoping that the Exclusive listing works for them.

On another note - one of the homes that was listed prior to Xmas has sold. And today, a townhome went on the market. Will be interesting to see how long that lasts.
Unless the seller is getting a very low commission, I can't think of reason why they'd agree to an exclusive listing.
Deal Addict
Jan 15, 2017
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michelb wrote:
Feb 24th, 2018 9:40 am
Unless the seller is getting a very low commission, I can't think of reason why they'd agree to an exclusive listing.
I know. I hope that it works for them. The irony is that the neighbour a couple of doors down with the same model has sold using Comm Free.
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Dec 27, 2009
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michelb wrote:
Feb 24th, 2018 9:40 am
Unless the seller is getting a very low commission, I can't think of reason why they'd agree to an exclusive listing.
I agree. Seems like you would be limiting your exposure unnecessarily. My goal in selling is always a fast sale. I don't want my life disrupted for any longer than necessary. I want as many people to see my listing as possible.
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Dec 23, 2010
1656 posts
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Moon
Thank god I bought in Abbotsville Crossing instead of Orleans... I bought my Primrose II model in Abbotsville for 385k base price back in July and it now costs 403k for the base model. In Summerside West the Primrose II model has been stuck at 376k all this time. Clearly property values don't move in Orleans very much.
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Nov 26, 2004
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Applesmack wrote:
Feb 26th, 2018 11:48 am
Thank god I bought in Abbotsville Crossing instead of Orleans... I bought my Primrose II model in Abbotsville for 385k base price back in July and it now costs 403k for the base model. In Summerside West the Primrose II model has been stuck at 376k all this time. Clearly property values don't move in Orleans very much.
Due to the popularity of Harmony, I think prices at Half Moon Bay has gone up even faster than Abbotsville Crossing.

I think the "problem" with Kanata / Stittsville is there are just too many new projects in the pipeline between builders to make sure there is no crazy increase in prices. Whereas because of poor soil conditions, large new development in South Barrhaven slowed because they are trying to figure out how to prevent new homes from flooding if they were to build there.

http://ottawacitizen.com/news/local-new ... urban-land

At the end of the day, it is all supply and demand. Right now, it looks like there is a "supply squeeze" for new development in Barrhaven. Kanata / Stittsville is sort of in a healthy balance as the large supply are being absorb by the relocation of DND and a healthy high tech sector. With Orleans, I suspect there is a demand issue because of the lack of a major employer in that part of town.
Last edited by William W on Feb 26th, 2018 12:22 pm, edited 1 time in total.
Deal Addict
Dec 23, 2010
1656 posts
785 upvotes
Moon
William W wrote:
Feb 26th, 2018 12:22 pm
Due to the popularity of Harmony, I think prices at Half Moon Bay has gone up even faster than Abbotsville Crossing.

I think the "problem" with Kanata / Stittsville is there are just too many new projects in the pipeline between builders to make sure there is no crazy increase in prices. Whereas because of poor soil conditions, large new development in South Barrhaven slowed because they are trying to figure out how to prevent new homes from flooding if they were to build there.
https://ottawa.ca/en/city-hall/planning ... esign-plan

http://ottawacitizen.com/news/local-new ... urban-land

At the end of the day, it is all supply and demand. Right now, it looks like there is a "supply squeeze" for new development in Barrhaven. Kanata / Stittsville is sort of in a healthy balance as the large supply are being absorb by the relocation of DND and a healthy high tech sector. With Orleans, I suspect there is a demand issue because of the lack of a major employer in that part of town.
When I decided to buy the value of Half Moon Bay Primrose II and Abbotsville Primrose II was equal at 385k. Half Moon Bay primrose II is now 411k while Abbotsville's is 403k so yes Half Moon Bay prices did rise slightly faster. However I don't like Barrhaven location as I work in the tech sector so I always only considered Kanata for my home purchase.
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Feb 6, 2017
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Applesmack wrote:
Feb 26th, 2018 12:30 pm
When I decided to buy the value of Half Moon Bay Primrose II and Abbotsville Primrose II was equal at 385k. Half Moon Bay primrose II is now 411k while Abbotsville's is 403k so yes Half Moon Bay prices did rise slightly faster. However I don't like Barrhaven location as I work in the tech sector so I always only considered Kanata for my home purchase.
I work at DND Carling Campus but love Barrhaven because it's kind of in between all the other suburbs. I can get to Central Nepean, Riverside South, Findlay Creek, Kanata and even to work via the 416 in about 25 minutes.

I was thinking of downsizing to a small condo or smaller freehold a couple of years back but am glad that I held onto my single home as it's gone up almost 100k during that time while my investment condo has only gone up marginally. I still want to downsize to maybe a small freehold but even the prices on those are getting ridiculous imo. For instance, Minto Harmony will likely want 280k for an avenue home with no back yard, you kidding me? The new towns now start at 350k which is more than what I paid for my single 2.5 years ago, wow. It's like even though I want to downsize, I cannot afford to since the prices keep rising at a good rate.
Deal Fanatic
Jul 4, 2004
5012 posts
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Ottawa
HN12345 wrote:
Feb 26th, 2018 1:15 pm
I work at DND Carling Campus but love Barrhaven because it's kind of in between all the other suburbs. I can get to Central Nepean, Riverside South, Findlay Creek, Kanata and even to work via the 416 in about 25 minutes.
...
This is the first time I hear of Barrhaven as being described as "in between" anything ;) But it does sound like for you, it's very well located given your work location (which, although many people call Kanata, is in Nepean).
Deal Addict
Feb 6, 2017
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michelb wrote:
Feb 26th, 2018 2:25 pm
This is the first time I hear of Barrhaven as being described as "in between" anything ;) But it does sound like for you, it's very well located given your work location (which, although many people call Kanata, is in Nepean).
For me, central Nepean is more the Merivale area but I know it encompasses a wider area. Just saying that Barrhaven is basically within 25km from Kanata, Centrepointe, Merivale area, Riverside South, Findlay Creek. I used to live in Centrepointe which is more centralized but we're talking suburbs so it is closer to the places that I frequent. I also work at Movati where I need to visit (Barrhaven, Kanata, Nepean (Merivale), and have family in Findlay Creek so Barrhaven is within reasonable distance to all of those places.

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