OREB MLS® Real Estate Statistics April 2011

Members of the Ottawa Real Estate Board sold 1,536 residential properties in April through the Board’s Multiple Listing Service® system compared with 1,814 in April 2010, a decrease of 15.3 per cent. The five-year average for home sales in April is 1,612.

Of those sales, 316 were in the condominium property class, while 1,220 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties, which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Sales in April 2010 soared well above average in advance of the implementation of the Harmonized Sales Tax in Ontario last July. Normally in Ottawa, we see a brisker sales period beginning at the end of April or early May, but last year’s spring market started earlier by about three months due to the HST. That surge in sales pushed April’s five-year average up significantly; it’s not out of the ordinary for about 1,500 homes to be sold in April in our market,” said Board President Joanne Tibbles.

“Home prices still continued to rise at the usual moderate rate last month, demonstrating a solid demand for resale homes in Ottawa. Re-sale housing inventory is up 17.2 per cent from this time last year, indicating that Ottawa is clearly in a healthy, balanced market,” Tibbles added.

The average sale price of residential properties, including condominiums, sold in April in the Ottawa area was $351,226, an increase of 5.4 per cent over April 2010. The average sale price for a condominium-class property was $255,232, an increase of 2.1 per cent over April 2010. The average sale price of a residential-class property was $376,090, an increase of 5.4 per cent over April 2010. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

Source OREB

Resale homes sold more quickly in February - 2011

March 3, 2011 : Resale homes sold more quickly in February [2011]

Members of the Ottawa Real Estate Board sold 936 residential properties in February through the Board’s Multiple Listing Service® system compared with 1,030 in February 2010, a decrease of 9.1 per cent.

Of those sales, 213 were in the condominium property class, while 723 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Once again we’re seeing sales numbers very close to the five-year average for February, which is 962 sales. It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa,” said Board President Joanne Tibbles. “This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it, perhaps even going up against other bidders,” Tibbles added.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $338,408, an increase of 6.7 per cent over February 2010. The average sale price for a condominium-class property was $260,112, an increase of 6 per cent over February 2010. The average sale price of a residential-class property was $361,475, an increase of 6.9 per cent over February 2010. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

Source OREB

A Ottawa Real Estate Agent - How An Agent in Ottawa Can Help you Sell Your Home

Is having a Ottawa real estate agent something that you actually need? You have heard of others selling their own homes, and you may have considered doing it on your own as well. It is important to understand though, that almost everyone who tries selling their own home in Ottawa is really leaving money on the table. Sometimes this can add up to be thousands of dollars, due to the lack of supervision by a Ottawa real estate agent. Yes, obtaining guidance from a property agent can earn you more profit than you think.

Even though a Ottawa real estate agent makes a commission on your home sale, if you compare the profit you stand to lose without hiring a professional property agent, the commission is a paltry sum indeed. These qualified experts have so much experience under their belts and can determine the best prices when it comes to selling property.

When you hire a qualified Ottawa real estate agent you'll know that you are getting someone who can negotiate on your behalf and squeeze out the best deal for you. You will want to hire a professional Ottawa agent to get the absolute best price possible for your Ottawa home.

No one wants to undersell their Ottawa house and it is the agent’s role to help you sell your property in the shortest possible time at the highest price. You'll see a higher profit from the sale by getting a Ottawa agent to visit your house and give you a few ideas that can easily add to your bottom line. Agents are masters of their trade and deserve every penny they receive in commissions.

A good Ottawa real estate agent is able to help you raise the value of your Ottawa home considerably by suggesting some minor repairs, a new paint job or some rearranging. Their time and valuable experience can help you get more for your home - and that really is the bottom line. You really should be taking advantage of your Ottawa property agent to help you make a better profit from your home sale.

A Ottawa real estate agent is a necessity when it comes time to sell your home. Agents want to make selling a home a positive and profitable experience for you and want to take all the hassle out of getting it done. You can call me if you want an expert on your side that is ready to help you get more for your Ottawa home.

Stats November 2010 - Ottawa East

The neighborhood of Ottawa East in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a 50% drop for the neighborhood of Ottawa East when compared to November 2009. Average days on market have gone down dramatically to 7% over last year for the Ottawa East area. Homes in the residential class have been selling at an average of $485,450 when compared to Ottawa East stats for November 2009 this is a 17% increase.

Stats November 2010 - Westboro

The neighborhood of  Westboro & Hampton Park in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a sharp 250% drop for the neighborhood ofWestboro & Hampton Park when compared to November 2009 which saw a total of 7  sales. Average days on market have gone down up by 49% over last year for theWestboro & Hampton Park area. Homes in the residential class have been selling at an average of $677,500 when compared to Westboro & Hampton Parkstats for November 2009 this is a 18% increase.

Stats November 2010 - Carlington

The neighborhood of  Carlington in Ottawa, Ontario saw a total of 8 sales during the month of November 2010. This is the same amount the neighborhood of Carlington saw in November 2009. Average days on market have gone down dramatically to 225% over last year for the Carlington area. Homes in the residential class have been selling at an average of $273,737 when compared to Carlington stats for November 2009 this is a 7% increase.

Stats November 2010 - Carson Meadows

The neighborhood of Carson Meadows located a few minutes from Downtown Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is average of the neighborhood of Carson Meadows considering the time of year. Average days on market have gone down to 24 days. Homes in the residential class have been selling at an average of $323,000 an increase of 17% over last year’s $267,500 average (November 2009). Note Carson Meadows is located nearby Carson Grove neighborhood.

Stats November 2010 - New Edinburgh

The neighborhood of New Edinburgh in Ottawa, Ontario saw a total of 1 sale during the month of November 2010. This is a 200% decrease for the neighborhood of Vanier compared to November 2009. Average days on market have gone down sharply because of this decrease in listings. Average days on market for New Edinburgh for November 2010 is 7. Homes in the residential class have been selling at an average of $466,500.

Stats November 2010 - Ottawa East

The neighborhood of Ottawa East in Ottawa, Ontario saw a total of 2 sales during the month of November 2010. This is a 50% drop for the neighborhood of Ottawa East when compared to November 2009. Average days on market have gone down dramatically to 7% over last year for the Ottawa East area. Homes in the residential class have been selling at an average of $485,450 when compared to Ottawa East stats for November 209 this is a 17% increase.

March 2010 Ottawa Real Estate Board Market Report for February 2010

A Great Start to 2010 for Ottawa’s Housing Market

March 5, 2010 : A Great Start to 2010 for Ottawa’s Housing Market

Source: OREB

Members of the Ottawa Real Estate Board sold 1,118 residential properties in February through the Board’s Multiple Listing Service® system compared with 787 in February 2009, an increase of 42.1 per cent.

Of those sales, 323 were in the condominium property class, while 795 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“Last month’s sales were near the top of the usual range for this time of year, as opposed to February of 2009, which was the end of the brief slowdown we saw in Ottawa’s resale housing market due to global economic conditions,” said Board President Pierre de Varennes. “So far in 2010, OREB Members have sold 1,838 properties, putting us well ahead of the 1,316 properties sold in the first two months of 2009. Inventory remains low and the homes that are listed are selling quickly, keeping Ottawa in a seller’s market for the moment,” he added.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $317,030, an increase of 15.8 per cent over February 2009. The average sale price for a condominium-class property was $265,938, an increase of 30.3 per cent over February 2009. The average sale price of a residential-class property was $337,788, an increase of 15.6 per cent over February 2009. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

A Great Start to 2010 for the Ottawa Housing Market

A Great Start to 2010 for Ottawa’s Housing Market

February 3, 2010 : A Great Start to 2010 for Ottawa’s Housing Market

Members of the Ottawa Real Estate Board sold 713 residential properties in January through the Board’s Multiple Listing Service® system compared with 529 in January 2009, an increase of 34.8 per cent.

Of those sales, 156 were in the condominium property class, while 557 were in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.) which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“These numbers are more in line with what we might expect for a typical January, whereas 2009 started off abnormally slow due to uncertain financial and market conditions worldwide,” said Board President Pierre de Varennes. “Although listing inventory remains low, we expect that will change as we head into the spring market and interest rates remain low,” he added.

The average sale price of residential properties, including condominiums, sold in January in the Ottawa area was $320,966, an increase of 11.4 per cent over January 2009. The average sale price for a condominium-class property was $259,273, an increase of 22.5 per cent over January 2009. The average sale price of a residential-class property was $338,244, an increase of 8.2 per cent over January 2009. The Board cautions that average sale price information 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 average sale price is calculated based on the total dollar volume of all properties sold.

The Ottawa Real Estate Board is an industry association of 2,540 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association and thus are entitled to use the term REALTOR®.

The MLS® system is a member based service, paid for by the REALTOR® members of the Ottawa Real Estate Board. The MLS® mark symbolizes the cooperation among REALTORS® to effect the purchase and sale of real estate through real estate services provided by REALTORS®. MLS® commercial and residential listings are available for viewing on the Board’s internet site at www.OttawaRealEstate.org and on the national websites of The Canadian Real Estate Association at www.REALTOR.ca and www.ICX.ca. Information about listings and open houses is also available in the Board’s weekly newspaper, Ottawa Real Estate Guide, available free at 700 locations across the Ottawa area and now online at www.OttawaRealEstateGuide.ca.

Source: OREB