Welcome to the Balkwill/Grégoire Real Estate Group
An informed client is strategic to the buy or sale of their home. Please feel free to explore Ottawahomesandcondos.com. You will find our exclusive listings, all MLS listings, and current market information. Our Condo Info section keeps you informed on sales and listings in major condo buildings in Ottawa. If you have questions regarding real estate, please contact us.
Keeping you INFORMED:
The Bank of Canada’s anxiety over Trump and trade point to a pause for rates
Bank of Canada Deputy Governor Timothy Lane just provided a bevy of reasons why the central bank likely will take a break from raising interest rates, including a stronger currency and uncertainty over whether the North American Free Trade Agreement will survive the reign of Donald Trump.
Lane’s speech in Saskatoon on Sept. 18 was the first by a Bank of Canada leader since the central bank raised interest rates earlier this month. (Senior Deputy Governor Carolyn Wilkins spoke at an event in Ottawa last week, but steered clear of direct commentary on the economy.)
His remarks can’t be considered a roadmap for the future path of interest rates; he made a point of stating that every policy meeting is “live,” meaning the latest data could alter assumptions.
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Property Management and Rentals
We are also involved in residential property management in Ottawa. We deal directly with clients who want to list their property to rent, and also who need a property manager. Very competitive rates available.
– October 17th, 2017
Steady September contributes to strong third quarter for 2017
There were 311 condominium properties sold in September 2017 as compared to 269 condos in 2016, for the same month. An increase of 15.6% in number of condo units sold! Aligns securely with lasts’ months over 20% jump.
The average sale price of a condo was $261,548 in September 2017, compared to an average sale price of $251,764 in 2016 for the same month. A 3.9% increase over the same time last year. The Ottawa condo market is alive and kicking folks!
There were 1,076 residential homes sold in September 2017 as compared to 1,096 in September 2016. A 1.8% downward move in the number of houses sold in the resale market in Ottawa. A slight cool off, form the burning hot summer market.
We are seeing no slowdown in the condo market. Sales have been increasing in this property class since February, with the average increase per month coming in at 25.5%. The boost in condo sales has impacted our year-to-date unit sales figures and is putting us on track for a strong year-end finish.
The average sale price, of a residential home, for September 2017 was $416,464 compared to an average sale price of $384,931 in 2016 for the same month. A 8.2% increase since this time last year.
The $300,000 – $400,000, and the $400,001 – $499,999 price range continues to have the highest concentration of properties sold, even though properties above the half million dollar mark are seeing significant increases, followed by the $150,000 – $299,999 range in condominiums. REALTORS assisted in renting roughly 2,364 properties since the beginning of 2017.
Ottawa is one of the most stable real estate markets in Canada. Prices remain steady in condos, residential units and multi-units, across the board. Re-visit OttawaHomesandCondos.com for all the latest updates! We have some great listings on our featured listings page; New real estate listings on the market!
Given excellent mortgage rates and flat pricing, this is an optimum time to emerge onto the market. Looking for a home? Please contact us. We want to be your agents! (613) 237-2567 or (613) 298-5101.