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. 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:
Is the Bank of Canada Slashing Interest Rates?
It is more likely than not that the Bank of Canada holds the interest rate at 1.75% on Wednesday, but there’s a growing chorus that believes it will decrease the rate before the end of the year.
“If we were only looking at domestic factors, we might think that the Bank would soon start to consider further rate hikes,” said Capital Economics’ Stephen Brown. “Economic growth is on track to outperform the Bank’s forecasts in the second quarter and core inflation has risen in recent months. But outside of Canada, trade tensions have grown, there are signs that U.S. GDP growth is slowing, and the Fed has signalled that it will soon cut rates. We suspect that the next move will be a cut.”
Continue to the article READ ON!
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.
Condo Sales Continue to Dominate Resale Market
There were 493 condominium properties sold in June 2019 as compared to 453 condos in 2018, for the same month. An increase of 8.8% in number of condo units sold!
The average sale price of a condo was $308,482 in June 2019, compared to an average sale price of $290,514 in 2018 for the same month. A 6.2% increase over the same time last year. The Ottawa condo market is alive and kicking folks!
There were 1,612 residential homes sold in June 2019 as compared to 1,611 in June 2018. A 0.1% increase in the number of houses sold in the resale market in Ottawa.
Year to date residential resales are virtually the same as this time last year with 7,565 transactions so far. Increasing by 8.3%, condo resales are the driving force for the upturn in units sold in the first half of 2019.
The average sale price, of a residential home, for June 2019 was $500,716 compared to an average sale price of $449,402 in 2018 for the same month. A 11.4% 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 1,314 properties since the beginning of 2018.
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) 298-5101.