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:
Ottawa now Canada’s fourth-most-expensive housing market
Ottawa’s aggregate home price surpassed Calgary’s for the first time ever in the first quarter of 2019 – making the capital the fourth-most-expensive housing market in the country, Royal LePage said on Thursday.
The aggregate price of a home in Ottawa rose 7.7 per cent year-over-year to $469,407 in the first three months of the year, the real estate firm reported. Calgary, meanwhile, had an aggregate price of $468,974.
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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.
A Slow March into Spring Market for Ottawa Real Estate
There were 375 condominium properties sold in March 2019 as compared to 357 condos in 2018, for the same month. An increase of 5.0% in number of condo units sold!
The average sale price of a condo was $290,181 in March 2019, compared to an average sale price of $275,712 in 2018 for the same month. A 5.2% increase over the same time last year. The Ottawa condo market is alive and kicking folks!
There were 1,136 residential homes sold in March 2019 as compared to 1,297 in March 2018. A 12.4% decrease in the number of houses sold in the resale market in Ottawa.
Lack of inventory is responsible for March’s deficiency in residential unit sales. This tightness of supply is manifesting in significant reductions in days on market and properties selling very quickly. Residential days on market are down 14%, and condo days on market are down 36% from last year.
The average sale price, of a residential home, for March 2019 was $480,143 compared to an average sale price of $447,936 in 2018 for the same month. A 7.2% 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 550 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.