The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

Housing starts for October 2024

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On November 18 the CMHC released the housing starts statistics for October 2024. Here are the key points.

The seasonally adjusted annual rate (SAAR) of housing starts for urban areas (populations of 10,000 or more) saw a 6% increase in October 2024, reaching 223,111 units. Multi-unit urban starts rose by 7%, totaling 175,705 units, while single-detached urban starts edged up by 1% to 47,406 units.

In rural areas, the SAAR estimate for housing starts stood at 17,650 units.

Year-to-date data for January to October 2024 shows housing starts in Montreal up 12% compared to the same period last year, signaling a recovery from the low levels seen in 2023. Meanwhile, Vancouver’s starts are down 18% compared to 2023, although last year set a record high. Similarly, Toronto’s starts are 21% lower year-to-date than in 2023, another year marked by unusually high activity.

Monthly housing start statistics, along with other construction data, are published in both English and French on the CMHC Housing Market Information Portal. The next release, covering November’s housing starts, will be available on December 16 at 8:15 AM ET.

To provide more context, CMHC uses trend measures alongside the monthly SAAR figures to better understand fluctuations in the data. The multi-unit segment, which often drives the market, can experience significant monthly variation, making trend analysis a valuable tool for identifying longer-term supply patterns.

Housing starts data also contributes to CMHC’s broader housing reports, offering insights into monthly, quarterly, and year-over-year trends in the new home market.

Canadian Real Estate Market on the Rise: Home Sales Activity Hits New Highs in October 2024

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The Canadian real estate market continues to show resilience and growth as home sales activity recorded over MLS® Systems nationwide surged by 7.7% month-over-month in October 2024. This increase marks the highest level of sales since April 2022, a clear sign of recovery and renewed confidence in the housing market.

Market Trends: What’s Driving the Increase in Sales?


Several factors have contributed to the uptick in home sales across Canada:


  1. Improved Buyer Confidence:
    2. As the economy stabilizes and interest rates show signs of leveling off, buyers are feeling more confident about making major financial commitments.
  2. Inventory Availability:
    3. Many regions are seeing increased listings, providing buyers with more options. This has invigorated market activity in cities such as Toronto, Vancouver, and Ottawa.
  3. Seasonal Adjustments:
    4. Historically, fall is a strong period for real estate transactions as families and investors look to finalize purchases before the year’s end.

Breaking Records: The Highest Sales Levels Since April 2022


The last time the Canadian real estate market saw such robust activity was in April 2022, during a period of heightened demand and competitive bidding wars. While the market today operates under more stabilized conditions, the surge in sales suggests that demand remains high for well-priced properties.

For condo buyers and sellers, this is particularly important. Condos remain an attractive option due to:

  • Affordability: Compared to detached homes, condos provide a cost-effective entry point for first-time buyers.
  • Urban Living: Condos in urban areas like downtown Ottawa, Toronto, and Montreal are in high demand due to their proximity to amenities and workplaces.
  • Investment Potential: Investors continue to see condos as lucrative opportunities for rental income and long-term appreciation.

Regional Highlights


While the national trend is positive, specific markets are driving this growth:

  • Toronto and Vancouver: These metropolitan hubs continue to attract buyers with diverse housing options, including luxury condos and townhouses.
  • Ottawa: As the nation’s capital, Ottawa has seen steady growth, particularly in the condo sector. Popular neighborhoods like The Glebe, West Centre Town, and South Keys are experiencing renewed interest.
  • Smaller Cities: Emerging markets in smaller cities have also gained traction, offering buyers affordability without sacrificing quality of life.

What This Means for Condo Sellers


For condo owners considering selling, this surge in market activity presents a golden opportunity. A few tips to capitalize on the trend:

  1. Stage Your Condo: Ensure your condo is clean, decluttered, and staged to appeal to buyers.
  2. Highlight Amenities: Emphasize unique building features such as gyms, pools, or proximity to transit.
  3. Work with a Realtor: Partnering with a knowledgeable local realtor ensures you price competitively and market effectively.

For Buyers: How to Navigate the Market


  • Get Pre-Approved: Rising demand could mean increased competition, so being pre-approved for a mortgage gives you a competitive edge.
  • Stay Informed: Monitor listings in your preferred neighborhoods and act quickly on desirable properties.
  • Think Long-Term: Whether buying as an end-user or an investor, focus on properties with strong appreciation potential.

Looking Ahead


The October 2024 sales increase is a clear indicator that the Canadian real estate market remains dynamic and full of opportunities. For buyers, sellers, and investors in the condo sector, this is an excellent time to evaluate options and make informed decisions.

Whether you’re looking to buy your first condo, upgrade your current home, or explore investment opportunities, the current market conditions make it an exciting time to participate in Canadian real estate.

Ready to Buy or Sell a Condo in Ottawa?


As an experienced realtor specializing in Ottawa condos, I’m here to help you navigate this vibrant market. Reach out today to explore available listings or get expert advice on selling your condo. Let’s make your real estate goals a reality!

Architecture – Canadian Architecture – Gothic Revival – Québec – Part 1

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Manoir Papineau Gardener’s House
Montebello, 1855


The Gothic Revival architectural style flourished in the 19th century and left a distinctive mark across Quebec, particularly in churches, public buildings, and even private residences. This style emphasized pointed arches, intricate woodwork, steeply pitched roofs, and tall windows, often with stained glass, to evoke the grandeur and spiritual connection of medieval Gothic architecture.

Gothic Revival architecture in Quebec features pointed arches, steep roofs, and intricate details, blending urban grandeur and rural charm. Notable examples include cathedrals like Rimouski’s Saint-Germain, with elegant spires and tracery, and smaller churches such as Montebello’s chapels, which showcase wooden craftsmanship. Many rural churches, like Saint-Jean-Baptiste in L’Isle-Verte or Saint-Pierre in Sorel-Tracy, emphasize verticality and stained glass, reflecting the style’s spiritual ambiance. Anglican churches, such as St. James in Trois-Rivières and St. George’s in Drummondville, combine steep roofs and wood interiors, illustrating local adaptations. Gothic Revival enriches Quebec’s architectural landscape, from grand façades to quiet chapels.

Themes Across Locations

In Quebec, the Gothic Revival adapted to both urban and rural contexts:

  • Urban Areas: Larger churches and public buildings feature elaborate stone construction and intricate stained glass.
  • Rural Areas: Wooden interpretations of Gothic Revival are common, with simpler forms and local craftsmanship.
Quebec’s Gothic Revival architecture reflects the influence of both British and French traditions, underscoring its unique historical and cultural identity.

Sainte-Émilie Church
Leclercville, 1863




Saint-Germain Cathedral
Rimouski, 1859




Saint-Nom-de-Marie Church
Sainte Marie, 1859




Assumption Cathedral
Trois-Rivieres, 1858




La-Décollarion-de-Saint-Jean-Baptiste Church
L’isle erte, 1855




Papineau Memorial Chapel
Montebello, 1855




Saint-Patrice Church
Rivière-du-Loup, 1855




Saint-Alexandre Church
Saint-Alexandre, 1853




Saint-Roch Church
Saint-Roch-des-Aulnaies, 1853




St-Paul Anglican Church
Dubswell, 1853




Messiah Anglican Church
Sainte-Anne de Sabrevois, 1848




Saint-Charles Borromée Church
Deschambault Grondines, 1842




Anglican Church St Bartholomewès
Riviere du loup, 1841




Saint-Hilaire Church
Mont-Saint-Hilaire, 1837




Saint-Mungo Church Brownburg-Chatham, 1836


St-George’s Church
Drummondville, 1833




St-James Anglican Church
Gatineau, 1824




Christ Church Sant-André
Dargenteil, 1821




Christ Church
Sorel-Tracy, 1784



Ottawa Condo for Sale
Viscount Alexander Park
305-270 Brittany Drive
$360,000

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Welcome to 305 – 270 Brittany Drive, and discover condo living at its finest. Step into this beautifully updated condo featuring laminate flooring, an updated kitchen with quartz countertops. Modern pot lights illuminate the open-concept living/dining area. A tranquil evergreen view, adds a serene touch to your daily life. The spacious principal bedroom boasts a large walk-in closet, while the full bath is elegantly refreshed. Freshly painted & equipped with in-suite laundry, this unit is move-in ready. Enjoy unparalleled amenities, including indoor & outdoor pools, a fully equipped gym, squash, tennis, & pickleball courts, & scenic walking trails winding through lush parkland with a tranquil pond & fountains. Conveniently located near schools, shopping (Farm Boy, Shoppers, Independent, Tim Hortons), Montfort Hospital, CMHC & La Cité Collégiale. Easy access to transit & minutes from downtown. 1 parking spot is included. 800 square feet per iGuide. An exceptional lifestyle awaits!


Ottawa West Centre Town Condos: Urban Living Redefined

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Discover the perfect blend of vibrant city life and tranquil living in **Ottawa West Centre Town**, one of the capital’s most dynamic and sought-after neighborhoods. With a wide array of condos, each offering unique styles, amenities, and community vibes, this area is ideal for professionals, families, and investors alike. Whether you’re looking for a luxury high-rise or a boutique-style residence, West Centre Town has it all.

Explore Ottawa West Centre Town Condos

Here’s an overview of some of the most notable condominium buildings in the area:

Arthur Street

  • 40 Arthur Street: Sophisticated condos with some open and some layouts and great access to Ottawa’s core.

Balsam

  •  9 Balsam Street: Boutique living in a quiet yet central location, ideal for those seeking privacy.

Beech Street

  • 95 Beech Street: A charming low-rise condo perfect for downsizers or first-time buyers.

Booth Street

  • 288 and 390 Booth Street: Located near the thriving neighborhoods of Chinatown and Little Italy, these condos offer walkable access to cultural hotspots.

Breezehill Avenue

Cambridge Street

  • 540 & 550 Cambridge Street: Elegant living spaces nestled in a peaceful, tree-lined community. These buildings are known for their warm community feel.

Carling Avenue

  • 805 Carling Avenue (The ICON): Ottawa’s tallest residential building, offering stunning city views, luxurious amenities, and proximity to Dow’s Lake.

Champagne Avenue

  • 100, 105, 111, & 116 Champagne Avenue: Premium condos in the heart of Little Italy, featuring modern design and easy access to the city’s best dining and nightlife.

Eccles Street

  • 109 & 111 Eccles Street: Affordable, cozy condos in a prime location near Chinatown, ideal for students or young professionals.

Elm Street

  • 148 & 150 Elm Street: Boutique condos offering peaceful living with easy access to the city’s cultural districts.

Fleet Street

  • 300 Fleet Street: Located at LeBreton Flats, these condos are ideal for nature lovers with easy access to the Ottawa River pathways.

Hickory Street

Lett Street

  • 200, 250 & 300 Lett Street: Known as the LeBreton Flats Condos, these units offer riverside living with proximity to museums, trails, and the city center.

Loretta Avenue

Miwate Private

  • 330 Miwate Private: Located on Zibi Island, this sustainable development features cutting-edge green living.

Powell Avenue

  • 290 & 300 Powell Avenue: Classic and stylish condominiums in a tranquil area, perfect for families or those seeking space.

Preston Street

  • 170 & 505 Preston Street: Modern condos with close access to Little Italy’s cafes, shops, and restaurants.

Rochester Street

  • 130 & 514 Rochester Street: Affordable and functional condos in a central location.

Spruce Street

  • 152 & 154 Spruce Street: Low-rise, boutique-style condos with a close-knit community feel.

Tuscan Private

  • 16-23 Tuscan Private: These exclusive units offer a mix of townhouse-style and condo living in a private enclave.

Why Choose Ottawa West Centre Town Condos?
  1. Prime Location: Proximity to downtown Ottawa, Little Italy, Chinatown, and LeBreton Flats.
  2. Amenities Galore: From rooftop terraces to fitness centers, the condos here cater to every need.
  3. Diverse Options: Whether you’re looking for luxury high-rises or cozy boutique buildings, there’s something for everyone.
  4. Transit Access: Conveniently located near the O-Train, major bus routes, and bike paths.
  5. Green Spaces: Close to the Ottawa River, Dow’s Lake, and numerous parks for outdoor enthusiasts.

Invest in West Centre Town

This neighborhood continues to attract residents and investors thanks to its vibrant culture, ongoing development projects like the Zibi community, and proximity to amenities. Condos in this area often experience high demand, making them a solid investment for long-term growth or rental opportunities.

Ready to find your dream condo in Ottawa West Centre Town? Contact us today to schedule a tour or explore the market further. Let us help you discover the perfect home in this thriving neighborhood!

Royal LePage 2024 Winter Recreational Property Report

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The Royal LePage 2024 Winter Recreational Property Report provides an optimistic forecast for the recreational property market in Canada. Here are some key highlights:

  1. Market Revival: The report predicts a 7.5% increase in ski chalet prices for 2025, driven by improving borrowing conditions and renewed buyer confidence. This comes after two years of limited activity due to high interest rates.

  2. Current Trends: Despite the high interest rate environment, recreational property prices have remained relatively stable. The national median price for a single-family detached home in ski areas is expected to rise to $1,019,960 over the next 12 months.

  3. Regional Variations: While some regions like Canmore have seen price increases, other areas in British Columbia experienced price drops. The report notes that Quebec’s recreational markets have shown solid price appreciation despite economic uncertainties.

  4. Buyer Behavior: Recreational homebuyers often use equity from their primary residences or pay in cash, but they still watch interest rates closely as an indicator of the economy’s health. The report suggests that additional rate cuts by the Bank of Canada could boost buyer confidence and activity.

  5. Longer Selling Times: The report highlights that properties are staying on the market longer, with 75% of Royal LePage’s recreational property specialists noting longer selling times.
Overall, the report is optimistic about the future of the recreational property market, expecting a rebound in activity and prices as borrowing conditions improve.

Does this cover what you were looking for, or is there a specific aspect you’d like to know more about?

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