The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

Ottawa Condo for Sale
Lower Town
801-180 York Street
$499,000

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Welcome to Suite 801 at The East Market – 180 York in the heart of the Byward Market. This furnished, newly renovated two bedroom condo has a wall to wall view of the Market and the Gatineau Hills, featuring high ceilings, and an open concept, living room/dining room/kitchen. The kitchen and bathroom highlight white quartz countertops, ample cupboard space and new stainless steel appliances. The suite also features, in suite laundry. Storage locker, and an underground parking space. Amenities include an exercise centre, party room, games room. billiard room, library along with a garden patio with BBQ. The Market is surrounded by restaurants and shops, and is an easy walk to the Parliament Buildings, the U of Ottawa, the city centre, and the LRT. Condo fees include heat and air conditioning.



Virtual Tour



Architect – Paul R. Williams

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Paul Revere Williams (1894-1980) was an American Architect. Born in Los Angeles his parents died when he was very young. Williams studied at the Los Angeles School of Art and Design, the Los Angeles branch of the New York Beaux-Arts Institute of Design Atelier and the University of Southern California. He won his first architectural competition at the age of 25. In 1922 he opened his own practice. He was very much in demand and won many awards.


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Ottawa Real Estate News Release (OREB) – Ottawa resale market heats up in May

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OTTAWA, June 5, 2023 –  Members of the Ottawa Real Estate Board (OREB) sold 1,939 residential properties in May through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,830 in May 2022, an increase of 6%. May’s sales included 1,477 in the freehold-property class, up 8% from a year ago, and 462 in the condominium-property category, a 1% increase from May 2022. The five-year average for total unit sales in May is 1,961.

“Typically the highest-selling month, May’s transactions did not disappoint,” says Ken Dekker, Ottawa Real Estate Board President. “This month we saw the first year-over-year unit sales volume increase since February 2022. It is a promising year for sellers barring any interest rate adjustments, as we saw a correlated drop in sales every time there was an interest rate hike in 2022.”

“However, with only five to six weeks of inventory, we are in a strong seller’s market. With the pent-up high demand and sales volume increasing, we are likely to see upward pressure on prices as demand continues to outstrip supply.”

By the Numbers – Average Prices*:
  • The average sale price for a freehold-class property in May was $745,902, a decrease of 7% from 2022, but still on par with April 2023 prices.
  • The average sale price for a condominium-class property was $442,859, decreasing 6% from a year ago. However, it marks a 2% increase over April 2023 prices.
  • With year-to-date average sale prices at $727,728 for freeholds and $428,394 for condos, these values represent a 12% decrease over 2022 for freehold-class properties and a 9% decrease for condominium-class properties.
“We are not seeing steep price escalations yet. May’s average prices stayed on par with April’s, although prices are well over what we saw at the end of 2022. With demand mounting in Ottawa’s chronically undersupplied market, I expect the average sale price will surpass last year’s figures for a month over the same month in the latter half of 2023 again—provided we do not see interest rate hikes.”

By the Numbers – Inventory & New Listings:
  • May’s new listings (2,822) were 9% lower than May 2022 (3,117) and up 32% from April 2023 (2,140). The 5-year average for new listings in May is 2,922.
  • Months of Inventory for the freehold-class properties has increased to 1.5 months from 1.2 months in May 2022 but down from 1.9 months in April 2023.
  • Months of Inventory for condominium-class properties has increased to 1.3 months from 1 month in May 2022, although down from 1.9 months in April 2023.
  • Days on market (DOM) for freeholds decreased from 27 to 23 days and 33 to 26 days for condos compared to last month
. “Given our housing stock challenges, some neighbourhoods are again in multiple offer territory. REALTORS® have up-to-the-minute market data and are best positioned to help both buyers and sellers in this evolving competitive resale market.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 2,731 properties compared to 2,230 last year at this time, an increase of 22%.

* OREB 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 will vary from neighbourhood to neighbourhood.

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