The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

Architectural Digest
The 12 Most Anticipated Buildings of 2018

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Bjarke Ingels in front of Via 57 West



Architectural Digest has recently released it’s survey of 12 buildings that are scheduled to be completed in 2018 and expected to have an impact on their setting. To the 12 buildings I’ve added a recent construction by each architect to take a peek at past accomplishments to better understand the “most anticipated” status. I think we may have the making of 12 other posts.
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Ottawa Condos for Sale
Centre Town
429 Somerset Street West
$354,900

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This rarely offered and barely lived in 2 bedroom 2 full bathroom penthouse condo has 1030 sqft, a fantastic layout & unbeatable location in the heart of centertown! This immaculate corner penthouse unit features an inviting foyer & large open kitchen with lots of storage and eat up bar. Gleaming hardwood floors throughout the open concept living & dining room beaming with natural light, perfect for entertaining! Living room with wrap around windows & large patio doors leading to the private balcony on the top floor with unobstructed views! Master bedroom featuring hardwood floors, walk-in closet & 4-piece ensuite. Another great sized bedroom with hardwood floors & family 4-piece bathroom. Convenient in-unit laundry, heated underground parking & storage locker! “The Strand” also features a renovated party room & terrace with BBQ’s and bike storage. Enjoy living steps from grocery store, pharmacy, restaurants, parks, transportation & more! Furniture also available for sale.





Ottawa Real Estate Board (OREB)
Latest News Release
A Strong Finish for Ottawa’s Real Estate Market in 2017

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OTTAWA, November 2, 2017 – Members of the Ottawa Real Estate Board sold 771 residential properties in December through the Board’s Multiple Listing Service® System, compared with 711 in December 2016, an increase of 8.4 percent. The five-year average for December sales is 687.

December’s sales included 205 in the condominium property class and 566 in the residential property class. The average sale price of a residential-class property sold in December was $434,098, an increase of 3.4 percent over December 2016. The average sale price for a condominium-class property was $255,335, a decrease of three percent from December 2016.

“December saw an increase of 3.5 percent in the number of units sold in residential sales and 25 percent in condo sales. This could very well be attributed to the changes in the mortgage qualification rules implemented January 1, 2018,” speculates Ralph Shaw, 2018 President of the Ottawa Real Estate Board.

“2017 was another solid year for the Ottawa Real Estate market in both the number of transactions as well as the reasonable increase in prices, about seven percent in residential and three percent in the condo market,” Shaw acknowledges. “We continue to have a stable and balanced market. Although inventory tracked low all year and new listings were down each month, new home supply counteracted the impact somewhat.”

The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2017 was 17,083, compared with 15,526 in 2016, an increase of ten percent. Overall, residential sales volume was up 16 percent.

“In 2017, the condo market rebounded with a 22 percent increase in the number of units sold, which is quite significant. The relatively flat increase in prices suggests that we found the ideal price point in which to move the units,” Shaw concludes. “As for residential sales, there was a good availability of product under $500,000 considering almost 10,000 out of approximately 13,500 residential units sold fell in that range.”

2017’s average residential sale price was $425,063, an increase of 6.8 percent over 2016, while the average condominium sale price was $269,903, an increase of 3.4 percent over 2016. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

When asked for a 2018 forecast regarding the new mortgage rules stress test, Shaw points out, “One factor that will soften the blow of the new mortgage rules is Ottawa’s average price point in the $400,000s, which means our market will certainly fare better than those in Toronto or Vancouver.”

“Nevertheless,” he cautions, “we will continue to monitor the impact of the stress test. It is unlikely that we will truly see the results of this poorly conceived piece of legislation until the end of the second quarter.”

In addition to residential and condominium sales in 2017, OREB Members have assisted clients with the sale of 419 commercial properties and 20 farms units, as well as with the rental of 2,977 properties.


Rideau Canal Skateway

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Good news the Rideau Canal Skateway is open! Bad news it’s -24c with a windchill of -37c. That is probably not healthy! Or certainly, it is dangerous. I’d say enjoy, but I don’t want to encourage you placing yourself in a dangerous situation. So what to say. If you have really warm clothes go have fun. Otherwise, Sunday looks better. But Monday is going above freezing. And so the skating season begins. Sigh!


About Us

Molly Hoyle Sales Representative
Claude Jobin Représentant des ventes

E-Mail

claude@claudejobin.com




Phone / Address

Phone: 613.804.7979
1723 Carling Avenue
Ottawa, Ontario