The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

CREA Canadian Real Estate Association – National Statistics July 2023

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CREA has recently issued its national statistics for July 2023. Highlights are:

  • National home sales edged down 0.7% month-over-month in July.
  • Actual (not seasonally adjusted) monthly activity came in 8.7% above July 2022.
  • The number of newly listed properties rose 5.6% month-over-month.
  • The MLS® Home Price Index (HPI) climbed 1.1% month-over-month and was down just 1.5% year-over-year.
  • The actual (not seasonally adjusted) national average sale price posted a 6.3% year-over-year increase in July.
Details can be found at the CREA website or in an analysis in an Ottawa Business Journal post.

Architecture – Architecture in Canada

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I stumbled upon an interesting article on architecture in the Walrus. A good read! Shall we call it checkmark architecture. Architecture by committee. New architecture in the city is good, but arresting, not so much, when you think of what is being built in Europe or Asia.

The article starts out talking about the new library being built in Ottawa – something I wrote about some time ago. Then of course there was the controversy around the addition to the Chateau Laurier. Should we talk about the restoration of 24 Sussex Drive.

What Upgrades Increase the Value of a Home

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Canadian Real Estate Wealth has put together a blog post on which home improvement improve the value of your home.

  • Kitchen remodeling
  • Bathroom renovations
  • Landscaping & curb appeal
  • Energy-efficient upgrades
  • Smart home technology
If you’re remodeling your kitchen for yourself and you plan on being there for sometime – knock yourself out. BUT, if you are looking to increase the value of your home make decisions on what buyers typically look for. You may want to avoid red lacquer (which I have seen and which was a turnoff). The pendulum in favour of open kitchen concepts is swinging so note that a closed kitchen is now an option once again.

Bathroom renovations of course. According to the area or building you live in I always caution people to not take out the bathtub if you only have one. The best of course is if there are two bathrooms in one you can have a walk-in shower and in the other you can have a bath.

Landscaping is good, I’d suggest keeping it simple making it something that a new person would want to adopt.

Energy-efficient upgrates – in order for those to count do remember to keep the documentation you have and be sure that the information is relayed to potential buyers as otherwise some features may not be evident.

Smart home technology – this is a new item on the list. It will be interesting to see this evolve and see how these features transfer from one owner to the next. Be careful to not be this guy!

Should you be embarking on a renovation project and aren’t sure what will bring the most return on your investment do not hesitate to contact the Molly & Claude Team we can help.

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