The Molly & Claude Team

The Molly & Claude Team Realtors Ottawa, Royal LePageTeam Realty

Royal LePage’s 2022 Market Survey Forecast

by





The Royal LePage 2022 Market Survey Forecast was distributed last week. The release includes insights from experts across the country and year-over-year price expectations for Canada’s nine largest markets.

Key highlights from the national release include:
  • Canada’s national aggregate home price forecast to rise 10.5% by the end of 2022.
  • Omicron variant emergence may extend period of unusually strong real estate markets.
  • The GTA is the only region where condominium price appreciation is forecast to outpace that of detached homes; prices expected to rise 12.0% year-over-year in 2022.
  • Greater regions of Toronto and Vancouver forecast to see highest aggregate price appreciation at 11.0% and 10.5%, respectively.
  • Detached home prices in Halifax expected to rise 10.5%, followed by the Greater Montreal Area and Ottawa (9.0%).
  • Housing markets are expected to be unusually active through the winter season.


Resolutions for Buying First Home in 2022

by




ApartmentTherapy (admittedly American) has put together a list of things to do to help you prepare to buy your first home in 2022. Contact the Molly & Claude Team for additional guidance on the process. We can help you buy next week, next month, or next year. We can educate you on the process and the selection of properties that suit your lifestyle and your budget.

Canadian Real Estate Association (CREA) – National Average House Price

by




The Canadian Real Estate Association (CREA) has reported that the average residential price in Canada was $716,585 in October. Up 18.2 per cent from October 2020. Christopher Alexander of RE/MAX gives us snapshots of what that amount can buy across Canada, Including Victoria, Vancouver, Edmonton, Calgary, Saskatoon, Regina, Winnipeg, Toronto, Ottawa, Montreal, Halifax, St.John’s.

Ottawa Real Estate News Release (OREB)
November’s Bris Resale Market

by



ottawa-real-estate-board-newsletter-presented-by-the-molly-&-claude-team-realtors

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.

Top 100 / Diamond Award – Royal LePage Team Realty

by


It was great to attend the Top 100 reception yesterday afternoon at Club Bell / Canadian Tire Centre.


Shirley & Claude



Shirley, Claude & Kent Browne

I feel I could repeat the words from one year ago “It’s been quite a year!”, 2021 has shown signs of improvement, but still… Thank you to the clients who, despite those challenges, chose to work with the Molly & Claude Team, trusted that we would keep them safe, and helped us attain this milestone once again – Top 100 at Royal LePage Team / Diamond Award.

Thanks to Shirley Douglas for her contributions and her assistance, without her this would not have been possible.



A big shout out to Molly Hoyle, Ted Park, and the wonderful team at Royal LePage, Kent Brown, Jason Ralph, Brian Sukau, and our amazing support team, Donna Fullarton, Stefanie Molenaar, Sue Dance, Monica Bentley, Judy Van Noort, Daniele Legault, Nicole Mitchell, Sarah Lachance, and so many others.

Thank you! Stay well, stay safe.



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