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. We offer staged home presentation, like you have never see before. We can transform your home to it’s maximum potential and get you a higher sale price. Doesn’t that sound like a “win-win” situation? Have a look! Staging Unparalleled. If you have questions regarding real estate, please contact us.
Keeping you INFORMED:
Economy slowed, housing investment weakened in Q3
Canada’s economic growth slowed to 0.4% in the third quarter of 2017 from 1.0% in the second quarter, an annualized rate of 1.7%.
Statistics Canada data show that exports dropped 2.7% while growth was driven by household spending (1%) although this was largely due to spending by Canadians abroad.
Investment in housing weakened by 0.4% following a 0.9% decline in the previous quarter, the first time since 2013 that housing investment has declined in two consecutive quarters.
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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.
– January 5th, 2017
A Strong Finish for Ottawa’s Real Estate Market in 2017
There were 205 condominium properties sold in December 2017 as compared to 164 condos in 2016, for the same month. An immense increase of 25.0% in number of condo units sold!
The average sale price of a condo was $255,335 in December 2017, compared to an average sale price of $263,165 in 2016 for the same month. A 3.0% decrease over the same time last year. The Ottawa condo market is alive and kicking folks!
There were 566 residential homes sold in December 2017 as compared to 547 in December 2016. A 3.5% jump in the number of houses sold in the resale market in Ottawa. A decent jump when compared to previous months.
December saw an increase of 8.4% in the number of units sold in residential sales and 25% in condo sales. This could very well be attributed to the changes in the mortgage qualification rules implemented on January 1, 2018. 2017 was another solid year for the Ottawa real estate market.
The average sale price, of a residential home, for December 2017 was $434,098 compared to an average sale price of $419,897 in 2016 for the same month. A slight 3.4% 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 2,977 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.