Happy Thanksgiving!
Whether you celebrate with family, friends, or alone, take a moment to appreciate what you have! Happy Thanksgiving!
Ottawa Condo for Sale
Vanier
507-158A McArthur Avenue
$285,000
Virtual Tour
Virtual Tour
Welcome to Chateau Vanier suite 507-158A McArthur Avenue. A gracious foyer leads you to a spacious 2 bedroom 1 bath condo. Hardwood under carpet. Bright living / dining room with adjacent balcony. Ample closets and in suite storage. Well managed building. Amenities include elevators, fitness centre, indoor pool, party room, sauna, library, party room, meeting room, ample visitors parking, expansive garden, and various shops. 1 underground parking and locker. Close to various shops including 24 hour Loblaws across the street. 2 blocks away from Riverain Park including walking and biking paths. Proximity to Adawe Crossing Bridge connects you to Sandy Hill and uOttawa. Close to downtown and easy access to 417. Immediate possession available.
Ottawa Real Estate News Release (OREB) – Ottawa MLS® Home Sales Hold Steady in Lackluster September
OTTAWA, October 6, 2023 – The number of homes sold through the MLS® System of the Ottawa Real Estate Board (OREB) totaled 946 units in September 2023. This was unchanged from September 2022.
Home sales were 29.6% below the five-year average and 23.6% below the 10-year average for the month of September.
On a year-to-date basis, home sales totaled 9,889 units over the first nine months of the year. This was a large decline of 13% from the same period in 2022.
“Sales activity came in right on par with where it stood at the same time last year but was still running well below typical levels for a September,” said Ken Dekker, OREB President. “New listings have surged in the past several months, which has caused overall inventories to begin gradually rising again. However, available supply is still low by historical standards, and we have ample room to absorb more listings coming on the market. Our market is also right in the middle of balanced territory, and while MLS® Benchmark prices are down from last year they are still trending at about the same levels from 2021.”
By the Numbers – Prices:
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures.
- The overall MLS® HPI composite benchmark price was $643,600 in September 2023, nearly unchanged, up only 0.5% compared to September 2022.
- The benchmark price for single-family homes was $727,500, essentially unchanged, up just 0.6% on a year-over-year basis in September.
- By comparison, the benchmark price for townhouse/row units was $510,900, a small gain of 2.5% compared to a year earlier, while the benchmark apartment price was $422,300, falling by 1.1% from year-ago levels.
- The average price of homes sold in September 2023 was $675,412, increasing by 2.7% from September 2022. The more comprehensive year-to-date average price was $672,837, a decline of 6.5% from the first nine months of 2022.
- The dollar value of all home sales in September 2023 was $638.9 million, up modestly by 2.7% from the same month in 2022.
By the Numbers – Inventory & New Listings
- The number of new listings saw an increase of 9.8% from September 2022. There were 2,259 new residential listings in September 2023. New listings were 4.8% above the five-year average and 7% above the 10-year average for the month of September.
- Active residential listings numbered 2,997 units on the market at the end of September, a sizable gain of 14% from the end of September 2022. Active listings haven’t been this high in the month of September in five years.
- Active listings were 33.9% above the five-year average and 18.5% below the 10-year average for the month of September.
- Months of inventory numbered 3.2 at the end of September 2023, up from the 2.8 months recorded at the end of September 2022 and below the long-run average of 3.3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Ottawa Humane Society – Donations Required
Earlier this week, while undergoing dental work an ill-timed twitch by Boris badly damaged a piece of equipment. It is reported that Boris feels terrible about this incident but that being said The Ottawa Humane Society is looking for donations in order to replace this equipment and carry on with much needed dental procedures.
7 Overdone Kitchen Trends
ApartmentTherapy has put together a post which highlights 7 overdone kitchen trends. These include:
- Closed-off cabinetry
- All-white everything
- Massive kitchens with minimal counter space
- Impractical light fixtures
- Subway tiles
- A few too many design details
- Being a one-trick pony
Architecture – Sphere at the Venetian Resort
The choice of topic for today’s architecture blog post was easy. Set to change the live entertainment standard, every major news media was covering the opening of The Sphere at the Venetian in Las Vegas: BBC, Forbes, Euronews, CNN,
At first I was going to do explore other large Speres but all things considered there is so much material here – I thought let’s focus. The Sphere is 366 feet tall and 516 feet wide. For reference purposed the Peace Tower is 302 feet light. There are 1.2 million LED puck lights inside and outside. The Sphere was opened September 29 with a U2 residency. It was designed by Populous a prolific architecture firm. Haptic technology is built into 10,000 of the 18,600 seats which of course all have access to wi-fi. SACO Technologies a Canadian company designed both the exterior and interior screens. I don’t feel I can adequately address the speaker system but I can say it has 4D technology which includes wind and scent.
Is it tacky, ridiculous, over the top: Well yes. It’s in Las Vegas and adjacent to the Strip.
Archdaily presents some fun pics.
Some Canadians eyeing return to real estate market despite economic uncertainties
According to REM the Real Estate Magazine there is a higher percentage than previously of Canadians eyeing a return to the Canadian Real Estate in spite of the mortgage rate changes and the current real estate market.
Making Your Dream Home A Reality
Royal LePage has put together a blog post enumerating the steps towards making your dream home a reality. The steps include:
- Deciding to Buy a Home
- Choosing a Real Estate Agent
- Understanding Home Financing
- Finding the Right Home to Buy
- Making an Offer on a Home
- What to do Before Buying a House
- Closing on a Home
- Moving into Your New Home
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