Real Estate Newsletter
Ottawa Real Estate Board (OREB)
Latest News Release
Condo Sales Keep Market from Over Heating
OTTAWA, July 5, 2018 – Members of the Ottawa Real Estate Board sold 2,070 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,163 in June 2017, a decrease of 4.3 per cent. The five-year average for June sales is 1,914. June’s sales included 455 in the condominium property class, an increase of 11.5 per cent from June 2017 and 1,615 in the residential property class, a decrease of 8 per cent from a year ago.
“The first half of 2018 has performed very well with the number of year to date residential sales almost identical to this time last year,” states Ralph Shaw, Ottawa Real Estate Board President. “Condo unit sales have led the way, increasing by 16.8 per cent over the same period.”
“The robust condo numbers are likely fueled by lack of inventory, particularly in the lower price points of the singlefamily resale market. For example, in the first half of the year there has been a decrease of 37 per cent in the number of single-family units sold at the $250-275K price point and a 41 per cent decrease for the $275-300K price range, whereas there is a corresponding increase in condo sales of 49 per cent and 22 per cent respectively for those same price points,” Shaw points out.
“This suggests that at the lower end of the single-family resale market, buyers are turning towards condominium units as a way of achieving ownership at a price they can afford. The oversupply in our condo market that once was an issue is now helping to ease our overall inventory shortage.”
“Further, with construction costs up (concrete is one example) as well as increasing development fees, and skilled labour at a premium which is extending build timelines, the price of purchasing a new build is simply out of reach for many entry-level buyers,” he adds. “The options then become to move further outside the urban boundary to less expensive markets in surrounding communities.”
The year to date average Days on Market (DOM) for residential homes has decreased 18 per cent from 46 days in 2017 to 37 days currently. For condos, the DOM has decreased from 71 days to 52 days, a 27 per cent decrease from June 2017.
“The decrease in DOMs indicates that inventory is turning over much more quickly, likely due to the lack of available inventory in certain areas of Ottawa. To increase the number of listings available, we need the right product availability to entice sellers to give up their homes, particularly boomers. Many have indicated they would happily list their homes if we could offer them a property that fits into the lifestyle that they want. The downtown apartment condo is not at the top of their list,” remarks Shaw.
The average sale price of a residential class property sold in June in the Ottawa area was $449,200, an increase of 3.4 per cent over June 2017. The average sale price for a condominium-class property was $293,303, an increase of 1.2 per cent from June 2017. Year to date, residential properties have seen a 5.2 per cent increase in average price with a 1.1 per cent price increase for condominiums.*
“Ottawa’s real estate market continues to move forward at a reasonable pace. Undoubtedly, inventory remains low, but our property prices continue to be stable and affordable. We are very fortunate not to be experiencing the volatility of other markets in our country,” Shaw acknowledges.
In addition to residential and condominium sales, OREB Members assisted clients with renting 1,320 properties since the beginning of the year.
* The Board cautions that the average sale price can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The calculation of the average sale price is based on the total dollar volume of all properties sold. Price and conditions will vary from neighbourhood to neighbourhood.
Mercer Quality of Living Index
21 Cities Highest Quality of Life
“Every year Mercer, one of the world’s largest HR consultancy firms, releases its Quality of Living Index, which looks at which cities provide the best quality of life.” This year Ottawa ties with Hamburg in 19th place as one of the 21 best cities in the world for quality of life. Canada has 3 cities on the list.
The following is the list of the top 21, click the link above for details about each city. Below this list a list of cities grouped by their countries. Germany and Switzerland have 5 and 4 cities in the top 21. Next Australia and New Zealand with 3 and 2. Interesting to note that other than the 3 cities in Canada no other cities in the Americas made the top of the list – no asian cities either. Click here to see the 2017 results. Oh and yes I did change the pic for Ottawa – why did they have a pic of a cow in front of Parliament. Yes this surely happened but I’m not thinking it’s representative of life in Ottawa.
1 Vienna, Austria
2 Zurich, Switzerland
3 Auckland, New Zealand
3 Munich, Germany
5 Vancouver, Canada
6 Düsseldorf, Germany
7 Frankfurt, Germany
8 Geneva, Switzerland
9 Copenhagen, Denmark
10 Basel, Switzerland
10 Sydney, Australis
12 Amsterdam, Netherlands
13 Berlin, Germany
14 Bern, Switzerland
15 Wellington, New Zealand
16 Melbourne, Australia
16 Toronto, Canada
18 Luxembourg City, Luxembourg
19 Ottawa, Canada
19 Hamburg, Germany
21 Perth, Australia
Cities grouped by Countries
5 Vancouver, Canada
16 Toronto, Canada
19 Ottawa, Canada
3 Munich, Germany
6 Düsseldorf, Germany
7 Frankfurt, Germany
13 Berlin, Germany
19 Hamburg, Germany
2 Zurich, Switzerland
8 Geneva, Switzerland
10 Basel, Switzerland
14 Bern, Switzerland
10 Sydney, Australia
16 Melbourne, Australia
21 Perth, Australia
3 Auckland, New Zealand
15 Wellington, New Zealand
1 Vienna, Austria
9 Copenhagen, Denmark
12 Amsterdam, Netherlands
18 Luxembourg City, Luxembourg
Happy 4th of July
Architecture – Brutalism Ottawa
Heritage Ottawa Tour
In this second instalment of Brutalist architecture we take a tour of downtown Ottawa with Sarah Gelbard. Let us continue to broaden our minds and continue to explore architecture which unlike the Victorian style was popular in the 70s. This tour organized by Heritage Ottawa was led by Sarah Gelbard, Ph.D. candidate, Urban Planning, McGill University and editor of Spacing Ottawa.
My pictures could be a bit better but when you’re with a group both listening and pointing the camera around it stiffles your creativity – that`s my line and I`m sticking to it.
National Art Centre
Fred Lebensold
1967
We mostly spent out time exploring the terraces. Terraces which thanks to the addition no longer have the flow they used to. I must say I like the addition lit up in the evening but during the daytime I’m not a huge fan of the finish sidewalk-level.
Sculpture by Charles Daudelin
I do like this mural!
You may or may not like the subject of this post but these doors in the National Art Centre are amazing.
Some of you know I have a thing for chairs. This is Wander`s Tulip Chair 3d model.
Major General George R Pearkes Building
Architects John C. Parkin, Searle, Wilby, and Rowland
1974
Varette Building
130 Albert Street
1970
Royal Trust Building
116 Albert Street
110 O’Connor Street
Vanguard Building
171 Slater Street
Burnside Building
171 Slater Street
220 Laurier Avenue West
G.E. Bemi Architect
1974
Sir Richard Scott Building
Ottawa Public Libary
Main Branch
George E. Bemi
1973
I think this sculptural building is great. I understand some dislike it. What’s not to like?
Ottawa Condo for Sale
The Glebe
9-612 Bank Street
$429,000
The best of both worlds! The space of an older condo but a new layout and fresh renovations. Do you want to be in the heart of the city while looking out on green park land? This 2 bed condo has expansive park views from virtually every window while still being steps away from shops, transit and restaurants. Maybe it’s time to ditch the car and decrease your carbon footprint? You’ll be able to walk to dinner, groceries, theater & the game. This condo provides in unit laundry, lots of storage and two extra rooms. Work from home out of the bright office or enjoy a quiet book and good movie in the private den. The real show stopper is the kitchen! Gorgeous design and attention to detail. Bathroom totally updated. Call us now to book a showing.
Happy Canada Day
Tim Hortons has created a limited edidtion Canada Day donut, looks delicious! Read more on Narcity!
Have a great Canada Day!
Canada Day – Weekend
Click the following link to Ottawa Tourism’s – Canada Day page highlighting what to do where on this Canada Day week-end in the Capital.
It’s a tad hot out there, and it will get more intense so DO follow my daughter’s advice and drink a lot of water, otherwise things will only get worser.
Status Certificate
Click the following link to an article by James Davidson with regards the intent of the status certificate and the confidentiality thereof.
- « Previous Page
- 1
- …
- 233
- 234
- 235
- 236
- 237
- …
- 358
- Next Page »