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We believe an informed client is strategic to the buying or selling of a home on the real estate market here at Ottawa Homes and Condos. Please feel free to explore this site for any of our houses/condos for sale, or our rentals. You will find current market information as well as access to all real estate listings in the Ottawa region. Our Condo Info section updates you on sales of condos in major buildings in the city of Ottawa and their real estate locations. If you have questions regarding real estate housing; condo or residential sales, please contact us.
Keeping you INFORMED:
The federal election has yet to cast its usual chill on Ottawa’s real estate market.
(Interesting article from September, which is particularly relevant at this time. Did you vote?).
Sales of existing houses as measured by the Ottawa Real Estate Board rose 6.6 per cent in August from a year earlier, despite Prime Minister Stephen Harper’s election call on Aug. 2.
That’s a departure from the usual sales slowdown in the capital when a federal vote is pending.
Why are buyers reluctant at election time?
“I’m not necessarily sure,” board president David Oikle said Thursday. “Maybe they hesitate — ‘maybe a change in government might impact me’ — and so sometimes people slow down.”
Last month, though, the board recorded 1,279 sales during August, compared with 1,200 in August 2014. The total also topped the five-year average for August sales of 1,234. The figures are based on the board’s Multiple Listing Service and do not take in private sales or other non-MLS transactions.
Read more here: http://ottawacitizen.com/news/local-news/ottawa-real-estate-market-warms-up-in-august
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.
Buyer’s don’t back off despite election: October’s numbers are here!
There were 202 condos sold in October 2015 as compared to 194 condos in 2014, for the same month. An increase of 4.1% in number of condo units sold. This trend of a higher volume of units being shifted this year compared to last, continues.
The average sale price of a condo was $251,177 in October 2015, compared to an average sale price of $290,739 in 2014 for the same month. A 13.6% decrease over the same time last year. Condo market showing its weakness this month.
There were 959 residential houses sold in October 2015 as compared to 925 in October2014. An increase of 3.7% in the number of houses sold in the residential real estate market in Ottawa.
“Our October numbers show we outpaced last year and the five year average.” says David Oikle, President of the Ottawa Real Estate Board.
The average sale price, of a residential home, for October 2015 was $380,075 compared to an average sale price of $369,574 in 2014 for the same month. A 2.8% increase.
The $300,000 $400,000 price range continues to have the highest concentration of properties sold followed by the $200,000 to $300,000 range. However, there was a notable increase in the amount of homes sold between $500,000 and $750,000. Time to invest? the luxury home market may be on the rise.
Ottawa is one of the most stable real estate markets in Canada. Prices remain steady in Condos, residential units and multi-units, although volume is experiencing slight declines, particularly in condo sales. Re-visit Ottawa Homes and Condos for all the latest updates! We have some great listings on our featured listings page; New real estate listings on the market!
Given mortgage rates and flat pricing, this is an excellent time to emerge onto the market. Looking for a home? Please contact us. We want to be your agents! 613-237-2567