[Read more…]Important CAT Decision Respecting Emotional Support Animals
Service Animals, including Emotional Support Animals (ESAs) must be permitted in condos in spite of a no animal by-law. That being said, a decision by the Candian Condominium Association (CAT) opens the door to potentially creating size limits on this animals. Read more here.
Ottawa Condo for Sale
Woodroffe
404-1195 Richmond Road
$449,000
Virtual Open House
Welcome to suite 404 at the ever-popular Halcyon / 1195 Richmond Road, a spacious 2 bedroom 1 ½ bath condo with den. Convenient 4th floor location overlooking pool and tree tops. Corner unit with additional windows. Updated kitchen and main bath with walk-in shower. Nice size living room / dining room. Crown moulding throughout. Two generous size bedrooms, primary bedroom with 2 piece ensuite. Insuite laundry. All inclusive condo fees (heat, hydro, water). Amenities include outdoor pool, sauna, workshop, library, party room with kitchen, and guest suites. Steps to the pedestrian cyclist path along the Sir John A MacDonald Parkway. Proximity to the Woodroffe entrance to the Parkway provides you with one of the most delightful drives to downtown. Close to Carlingwood Shopping Centre, Bayshore as well as the future Lincoln Fields LRT Station. Large locker and two convenient parking spots.
Ottawa Real Estate News Release (OREB)
November’s Bris Resale Market
OTTAWA, December 3, 2021 – Members of the Ottawa Real Estate Board sold 1,459 residential properties in November through the Board’s Multiple Listing Service® System, compared with 1,605 in November 2020, a decrease of 9 per cent. November’s sales included 1,086 in the residential-property class, down 10 per cent from a year ago, and 373 in the condominium-property category, a decrease of 7 per cent from November 2020. The five-year average for total unit sales in November is 1,348.
“Although the resale transactions in November were down compared to a year ago, this is because 2020’s peak market activity shifted to later in the year due to the initial pandemic lockdown. In reality, November’s unit sales tracked 14% higher than 2019 (1,284), a more relevant base year for comparison,” states Ottawa Real Estate Board President Debra Wright.
“Furthermore, the number of properties that changed hands in November was 8% higher than the five-year average. And we also see an 8% increase in year-to-date sales over 2020, so it is fair to say that the resale market remains active and brisk.”
The average sale price for a condominium-class property in November was $432,099, an increase of 19 per cent from 2020, and the average sale price for a residential-class property was $716,992, also increasing 19 per cent from a year ago.With year-to-date average sale prices at $719,956 for residential and $420,762 for condominiums, these values represent a 24 per cent and 16 percent increase over 2020, respectively.*
“Despite significant increases in average prices over November 2020, month-to-month price accelerations have tapered off slightly, with average prices for residential units on par with October’s and condo average prices increasing by 7%. This is a far better situation than the monthly price escalations we had seen in the first quarter of 2021,” suggests Wright. “However, there is no question that supply constraints will continue to place upward pressure on prices until that is remedied.”
“While the drop in volume of new listings is typical for November, our inventory, at one month’s supply, is much lower than it should be. 1,430 new listings entered the market last month, a 27% decrease from October (1,960) and 13% less than last November (1,635). While still 30 or so units over the five-year listing average, this is simply not sustainable and is taking us further away from the balanced market that will bring much-needed relief to potential Buyers,” Wright cautions.
“Whether you are on the buying or selling side of the transaction, this is not the occasion to go at it alone and hope for the best. An experienced REALTOR® is vital in navigating the challenges of this complex market to ensure you are making the optimal choices for what may be the most critical contract you will sign and remain obligated to for the next 20 to 30 years.”
OREB Members also assisted clients with renting 4,458 properties since the beginning of the year compared to 3,120 at this time last year.
New home construction in Ottawa hits record high
CBC.ca reports that building permits have hit a new high in 2020. This was just published, I’m not clear on why we’re talking 2020 and not 2021 but there you have it.
The article also includes a great chart re the distribution of the population in the city.
Countertop and Backsplash Ideas by REFINE + DEFINE
Refine + Define highlight 5 suggestions for countertops and backsplash. Part of my renovations included a new kitchen counter and now I’m pondering what to do for a backsplash. I do like the look from the pic above but I think it needs more wall than I have.
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