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Members of the Ottawa Real Estate Board sold 1,573 residential properties in April through the Board's Multiple Listing Service® system, compared with 1,568 in April 2012, an increase of 0.3 per cent.
"The Ottawa market is doing well, and gaining ground back since the "cool-down" of the market for the past five months," says Tim Lee, President of the Ottawa Real Estate Board. "We are on par with the strong sales of last April, and the resale market is up 34.9 per cent since last month. With the late onset of warmer weather, the traditional "spring market" saw its upswing a little later this year. With interest rates continuing to be low, Ottawa remains a healthy, stable market."
April's sales included 302 in the condominium property class, and 1,271 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $371,565, an increase of 2.1 per cent over April 2012. The average sale price for a condominium-class property was $266,596, a decrease of 2.3 per cent over April 2012. The average sale price of a residential-class property was $396,507, an increase of 2.9 per cent over April 2012. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.
Courtesy of the Ottawa Real Estate Board.
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• 3 bath, 3 bdrm two story home- MLS® $343,000 Findlay Creek, Ottawa - Welcome Home! Presenting a 3 bedroom, 3 bath Findlay Creek home with all you could ask for. Upper level offers 3 spacious bedrooms, 2 baths and ensuite. Main level offers open concept dinning room, living room and kitchen with granite counters, stainless steel appliances and pantry. Basement offers plenty of storage and fantastic audio video area. Property information
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Members of the Ottawa Real Estate Board sold
1,167 residential properties in March through the Board's Multiple Listing
Service® system, compared with 1,388 in March 2012, a decrease of 15.9 per
cent.
"The Ottawa market has been described as steady and stable for the past
few years. It's not going up drastically, and it's not going down
drastically," says Tim Lee, President of the Ottawa Real Estate Board.
"The market was forecasted to slow down in 2013 as a result of recent
mortgage changes, and indeed it has."
"According to chief economists at the Canadian Real Estate Association
(CREA) and intelligence garnered from large mortgage lenders, large mortgage
brokers, and large real estate brokers, the most recent changes to mortgage
rules and guidelines has largely impacted first-time buyers by forcing them to
focus on more affordably priced homes. They were, to a much lesser extent,
priced out of the market," explains Mr. Lee. "When the changes were
first announced, those who were actively shopping had to re-evaluate how much
home they could afford to finance. Another factor for the slow-down of the
Ottawa market could be the role of public service employment cuts in the local
economy. "
March's sales included 253 in the condominium property class, and 914 in the
residential property class. The condominium property class includes any
property, regardless of style (i.e. detached, semi-detached, apartment, stacked
etc.), which is registered as a condominium, as well as properties which are
co-operatives, life leases and timeshares. The residential property class
includes all other residential properties.
The average sale price of residential properties, including condominiums, sold
in March in the Ottawa area was $358,102, an increase of one per cent over
March 2012. The average sale price for a condominium-class property was
$267,604, a decrease of 4.1 per cent over March 2012. The average sale price of
a residential-class property was $386,197, an increase of 2.7 per cent over
March 2012. The Board cautions that average sale price information 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 average sale
price is calculated based on the total dollar volume of all properties sold.
The Ottawa Real Estate Board is an industry association of over 2,900 sales
representatives and brokers in the Ottawa area. Members of the Board are also
members of the Canadian Real Estate Association.
Courtesy of the Ottawa Real Estate Board.
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Members of the Ottawa Real Estate Board sold 914 residential properties in
February through the Board's Multiple Listing Service® system, compared with
1,008 in February 2012, a decrease of 9.3 per cent.
"It is clear that the
Ottawa resale market has slowed down in comparison to this time last year," says
Tim Lee, President of the Ottawa Real Estate Board. "The government was
successful in its quest to "cool down" the market. However, if we look at this
month's sales, in comparison to last month's sales, the market seems to be
picking back up as we approach the busy spring season - 315 more homes were sold
in February, over January, even with three fewer days."
February's
sales included 224 in the condominium property class, and 690 in the residential
property class. The condominium property class includes any property, regardless
of style (i.e. detached, semi-detached, apartment, stacked etc.), which is
registered as a condominium, as well as properties which are co-operatives, life
leases and timeshares. The residential property class includes all other
residential properties.
The average sale price of residential properties,
including condominiums, sold in February in the Ottawa area was $346,774, a
slight decrease of 1.1 per cent over February 2012. The average sale price for a
condominium-class property was $264,953, a decrease of 3.1 per cent over
February 2012. The average sale price of a residential-class property was
$373,337 a slight decrease of 0.6 per cent over February 2012. The Board
cautions that average sale price information 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 average sale price is calculated based
on the total dollar volume of all properties sold.
"Even with the slight
decline in sales year-over-year, Ottawa continues to be a great place to buy
and/or sell your home," says Lee. Talk to an Ottawa area REALTOR® for more
information about the housing market outlook where you live, or want to
live.
courtesy of the Ottawa Real Estate Board.
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Members of the Ottawa Real Estate Board sold 602 residential
properties in January through the Board’s Multiple Listing Service® system,
compared with 682 in January 2012, a decrease of 11.7 per cent.
“The Ottawa resale market, which started to flatten out
in November and December - potentially as a result of the governments’ aim to “cool down” the
market – maintained its steadiness into January,” says Tim Lee, President of
the Ottawa Real Estate Board.
“January 2013 isn’t too far off from the numbers we’ve
seen in recent years, and although the units sold are a tad lower, Ottawa remains a healthy market.”
An economic summary of expansion in Ottawa by
Shore-Tanner and Associates indicated that the rates of growth in residents over the age of 55, and
particularly in the formation of single and two-person households, will continue to rise in the coming years.
Consequently, these trends indicate that there will soon be a strong demand for small apartments, condominiums,
and retirement homes.
“Within some areas of Ottawa, we are already starting to see
condo sales on the rise,” says Lee.
January’s sales included 136 in the condominium property
class, and 466 in the residential property class. The condominium property class includes any
property, regardless of style (i.e. detached, semi-detached, apartment, stacked
etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The
residential property class includes all other residential properties. The average sale price of
residential properties, including condominiums, sold in January in the Ottawa
area was $342,458, a slight decrease of 1.8 per cent over January 2012. The
average sale price for a condominium-class property was $268,604, an increase
of 6.1 per cent over January 2012. The average sale price of a residential class
property was $364,011 a decrease of 2.5 per cent over January 2012.
Courtesy of the Ottawa Real Estate Board.
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Members of the Ottawa Real Estate Board sold 618 residential properties in December through the Board’s Multiple Listing Service® system compared with 695 in December 2011, a decrease of 11.1 per cent. The five-year average for December sales is 617. The total number of homes sold through the Board’s MLS® system in 2012 was 14,308, only a minor decrease from the 14,389 homes sold in 2011. However, resale home sales in 2012 were slightly above the fiveyear average of 14,274. The average sales price for 2012 was $351,792, an increase of 2.3 per cent over 2011. “Looking back at the 2012 market, home sales in the first part of the year increased in comparison to the first half of 2011,” said new President of the Ottawa Real Estate Board, Tim Lee. “However, with the introduction of tighter mortgage rules in July, and looming government layoffs, the market seemed to “cool down” for the second half of 2012. Although the government has succeeded in its plan to “cool down” the market, Ottawa remains steady and balanced, devoid of large fluctuations in resale activity. We are truly fortunate to live and work in such a stable market area, and it seems buyers and sellers agree that Ottawa remains a great place to call home.” December’s sales included 134 in the condominium property class, and 484 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties. The average sale price of residential properties, including condominiums, sold in December in the Ottawa area was $336,591, an increase of 1.3 per cent over December 2011. The average sale price for a condominium-class property was $258,498, a decrease of 1.5 per cent over December 2011. The average sale price of a residential-class property was $358,211, an increase of 0.6 per cent over December 2011. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold. courtesy of the Ottawa Real Estate Board.
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With the cooler weather, comes a slight
"cool down" in the Ottawa resale market. While the average sale price
increased, the number of units sold decreased on a year over year analysis.
Members of the Ottawa Real Estate Board sold 931 residential properties in
November through the Board's Multiple Listing Service® system, compared with
1,023 in November 2011, a decrease of nine per cent. The five-year average for November
sales is 890.
"Last year was the best November on record for resale home sales in
Ottawa, while this November the sales have come back down to their normal
levels," says Ansel Clarke, President of the Ottawa Real Estate Board.
"Sales for the first eleven months of the year are at 13,692."
November's sales included 208 in the condominium property class, and 723 in the
residential property class. The condominium property class includes any
property, regardless of style (i.e. detached, semi-detached, apartment, stacked
etc.), which is registered as a condominium, as well as properties which are
co-operatives, life leases and timeshares. The residential property class
includes all other residential properties.
The average sale price of residential properties, including condominiums, sold
in November in the Ottawa area was $350,020, an increase of one per cent over
November 2011. The average sale price for a condominium-class property was
$258,500, a decrease of 2.6 per cent over November 2011. The average sale price
of a residential-class property was $376,349, an increase of one per cent over
November 2011. The Board cautions that average sale price information 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 average sale
price is calculated based on the total dollar volume of all properties sold.
"Continue to keep in mind that market fluctuations do occur,"
explains Clarke. "This is why it is important for buyers and sellers to
talk to their Ottawa area REALTOR® for more information about the housing
market outlook where they live, or want to live. Ottawa remains a great place
to buy and/or sell a home."
Courtesy of the Ottawa Real Estate Board.
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As the leaves continue to fall in Ottawa, we are seeing an increase in units sold, as well as an increase in average sale price. Members of the Ottawa Real Estate Board sold 1,073 residential properties in October through the Board's Multiple Listing Service® system, compared with 1,059 in October 2011, an increase of 1.3 per cent. The five-year average for October sales is 1,067.
"Compared to the five-year average, Ottawa is right on track, indicating that we are not experiencing a real estate downturn in Ottawa, but a slow, steady incline in units sold and average sale price," notes Ansel Clarke, President of the Ottawa Real Estate Board. "Ottawa continues to be great place to buy and/or sell a home."
October's sales included 237 in the condominium property class, and 836 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
The Ottawa market continues to be on track historically in regards to the number of sales to date as well. Since 1999 the number of sales through the MLS® System in Ottawa has ranged from a low of 11,329 to a high of 14,783. Sales for the first ten months of the year are at 12,768. Year-to-date average sale price is also up over 2011.
The average sale price of residential properties, including condominiums, sold in October in the Ottawa area was $346,492, an increase of 2.5 per cent over October 2011. The average sale price for a condominium-class property was $267,037, an increase of 3.0 per cent over October 2011. The average sale price of a residential-class property was $369,016, an increase of 1.8 per cent over October 2011. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
"Although the Ottawa market is characterized as stable and steady, there can be pockets of our market where fluctuations, such as larger increases in price, exist," explains Clarke. "This is why it is important for buyers and sellers to talk to their Ottawa area REALTOR® for more information about the housing market outlook where they live, or want to live." Courtesy of the Ottawa Real Estate Board
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September sales historically on track in Ottawa "There has been a lot of attention recently on the need to "cool" the real estate market across the country," said Ottawa Real Estate Board President, Ansel Clarke. "While there may be a need in some areas, we emphasize that real estate is local, and conditions and prospects will vary among major market areas and indeed within market areas. Historically the Ottawa housing market has not experienced volatility in prices or number of units sold." "While average price information does not indicate the value of a specific property, it is useful to identify trends," continued Mr. Clarke. "Since 1956 the average price in the Ottawa area has decreased only five times year over year and has increased by 15 per cent or more only five times as well. The Ottawa market can be characterized as stable and steady although there are pockets of our market area where we see larger increases in price." "As for the number of sales, we are on track this year to match historical levels of activity. Since 1999 the number of sales through the MLS® System in Ottawa has ranged from a low of 11,329 to a high of 14,783. Sales for the first nine months of the year are just under 11,700." New mortgage rules and continuing uncertainty about job losses in the public service may have contributed to recent decreases in the number of sales through the MLS® System of the Ottawa Real Estate Board. Members sold 993 units in September 2012, down from a near record high of 1,201 in September 2011. The average price of properties sold for the month was $351,585, up from $347,236 last month and $335,623 in September 2011. Courtesy of the Ottawa Real Estate Board.
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Sawmill Creek, Ottawa - Announcing a price reduction on 1466 Mattagami st., a 2 bath, 3 bdrm 3 story. Now $299,900 - New Price. Property information
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• 2 bath, 3 bdrm 3 story - $309,900 Sawmill Creek, Ottawa - Spacious 3bed, 2bath w/ensuite town house on quiet cul de sac. Lots of windows that Provide plenty of natural light. Surrounded by park space owned and operated by the condo. Low condo fees. livingroom/diningroom have vaulted ceilings. Large kitchen with eating area. Basement provides extra space for possible den or family room. Close to too many amenities to name. Property information
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Sawmill Creek, Ottawa - Announcing a price reduction on 1466 Mattagami st., a 2 bath, 3 bdrm 3 story. Now $309,900 - . Property information
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August sales take a mini-vacation
Members of the Ottawa Real Estate Board sold 1,141 residential properties in August through the Board's Multiple Listing Service® system, compared with 1,328 in August 2011, a decrease of 14.1 per cent. The five-year average for August sales is 1,193.
August's sales included 248 in the condominium property class, and 893 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"The number of residential properties sold has decreased compared to August 2011, while the average price has slightly increased," indicates Ansel Clarke, President of the Ottawa Real Estate Board. "The new mortgage rules came into effect in early July, and this could be an explanation for the decrease in properties sold. Potential home buyers may be waiting to save a bit more money before purchasing a property. This summer, we also experienced exceptionally hot weather, which may be a factor in the market slow down. This August's sales are still in line with the five-year average, so the Ottawa market remains steady despite a small dip in units sold." Clarke also notes that the total number of year-to-date properties sold is up 2.8 per cent and the average sale price is up 2.2 per cent from this time last year.
The average sale price of residential properties, including condominiums, sold in August in the Ottawa area was $346,949, an increase of 2.5 per cent over August 2011. The average sale price for a condominium-class property was $272,367, an increase of 7.6 per cent over August 2011. The average sale price of a residential-class property was $367,661, an increase of 1.7 per cent over August 2011. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold. Courtesy of the Ottawa Real Estate Board
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Members of the Ottawa Real Estate Board sold 1,366 residential properties in July through the Board's Multiple Listing Service® system, compared with 1,321 in July 2011, an increase of 3.4 per cent. The five-year average for July sales is 1,360.
July's sales included 304 in the condominium property class, and 1,062 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.
"The number of residential properties sold has slightly increased compared to July of 2011, while the average price has slightly decreased," notes Joanne Tibbles, Past President of the Ottawa Real Estate Board. "This may be because lower priced properties in certain areas of the city continue to sell quickly, while higher priced or unique properties are taking somewhat longer to sell. Nonetheless, the Ottawa market generally remains stable."
The average sale price of residential properties, including condominiums, sold in July in the Ottawa area was $337,518, a slight decrease of 1.2 per cent over July 2011. The average sale price for a condominium-class property was $265,903, a decrease of 1.7 per cent over July 2011. The average sale price of a residential-class property was $358,018, a decrease of 1.4 per cent over July 2011. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.
Courtesy of the Ottawa Real Estate Board.
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Members of the Ottawa Real Estate Board sold 1,660 residential properties in June through the Board's Multiple Listing Service® system, compared with 1,719 in June 2011, a decrease of 3.4 per cent. June's sales included 365 in the condominium property class, and 1,295 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties. "Although there is a slight decrease in the number of residential properties sold this June, compared to June 2011, it seems to be the norm throughout the years," says Ansel Clarke, President of the Ottawa Real Estate Board. "For the past 10 years, with the exception of June 2011, sales have consistently and marginally decreased from May to June. This shows stability in the market, and also represents a continued steady market." The average sale price of residential properties, including condominiums, sold in June in the Ottawa area was $352,800, a slight decrease of 0.1 per cent over June 2011. The average sale price for a condominium-class property was $278,447, an increase of 0.8 per cent over June 2011. The average sale price of a residential-class property was $373,756, a slight decrease of 0.4 per cent over June 2011. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold. courtesy of the Ottawa Real Estate Board.
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