RSS

OREB has released the stats for the August 2023 market. What does this all mean? By the numbers below for a quick snapshot. Read the full release here.

Residential Property Sales in August 2023:

  • Total residential properties sold: 1,196
  • Increase in sales compared to August 2022: 6%
  • Freehold-property class sales: 903 (up 7% from last year)
  • Condominium-property category sales: 293 (up 2% from August 2022)
  • Five-year average for total unit sales in August: 1,525

Analysis: August 2023 saw a 6% increase in residential property sales compared to the same month in 2022. Both freehold and condominium categories experienced positive growth, indicating ongoing demand in the Ottawa real estate market.

Average Prices in August 2023:

  • Average sale price for a freehold-class property: $709,739 (up 0.5% from 2022, 5.6% decrease over July 2023 prices)
  • Average sale price for a condominium-class property: $425,968 (up 1% from a year ago, 1.4% lower than July 2023 prices)
  • Year-to-date average sale prices: $732,220 for freeholds (8% decrease over 2022) and $432,571 for condos (5.5% decrease over 2022)

Analysis: While the average sale prices for both freehold and condominium properties have increased slightly year-over-year, the year-to-date figures show a decrease, indicating some market fluctuations and potential cooling from the peak prices seen in earlier months.

Inventory & New Listings:

  • August's new listings: 2,228 (7% increase over August 2022, consistent with last month)
  • Five-year average for new listings in August: 2,177
  • Months of Inventory for freehold-class properties: Increased to 3 months from August 2022 and July 2023.
  • Months of Inventory for condominium-class properties: Remains similar to August 2022.
  • Days on market (DOM) for freeholds: Increased to 31 days from August 2022 and July 2023.
  • Days on market (DOM) for condos: Increased slightly to 29 days from August 2022 and July 2023.

Analysis: The increase in new listings suggests more properties coming onto the market, providing potentially more options for buyers. However, the Months of Inventory for freehold properties has increased, indicating a shift toward a more balanced market. Days on market have also increased, suggesting properties may take longer to sell.

Note: All percentages mentioned above are calculated in comparison to the corresponding data from the previous year unless otherwise specified.

Please contact me with any questions and to help you navigate you home sale or purchase. 

Source: OREB

Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy. 

Read

OREB has released the stats for the July 2023 market. What does this all mean? By the numbers below for a quick snapshot. Read the full release here.

Residential Property Sales in July 2023:

  • Total residential properties sold: 1,263
  • Increase in sales compared to July 2022: 15%
  • Freehold-property class sales: 979 (up 18% from last year)
  • Condominium-property category sales: 284 (up 6% from last year)
  • Five-year average for total unit sales in July: 1,621

Average Sale Prices in July 2023:

  • Average sale price for freehold-class property: $754,188 (up 5% from 2022, 1% increase from June 2023)
  • Average sale price for condominium-class property: $435,094 (up 2% from a year ago, 3% lower than June 2023)
  • Year-to-date average sale price for freeholds: $735,103 (9% decrease from 2022)
  • Year-to-date average sale price for condos: $433,447 (6% decrease from 2022)

Inventory & New Listings:

  • New listings in July 2023: 2,234 (6% lower than July 2022, 19% lower than June 2023)
  • 5-year average for new listings in July: 2,336
  • Months of Inventory (freehold-class properties) in July 2023: 2.7 months (decreased from July 2022, increased from June 2023)
  • Months of Inventory (condominium-class properties) in July 2023: 2.3 months (decreased from July 2022, increased from June 2023)
  • Days on market (DOM) for freeholds in July 2023: 26 days (increased from July 2022 and June 2023)
  • Days on market (DOM) for condos in July 2023: 28 days (increased from July 2022 and June 2023)

Assistance with Rentals and Tenants:

  • OREB Members assisted with renting 3,921 properties since the beginning of the year (11% increase compared to last year at the same time).

Market Insights:

  • Despite interest rate hikes by the Bank of Canada, transactions and average prices are up from last July.
  • Positive indicators in July suggest solid year-over-year results in the second half of the year.
  • Inventory is increasing, providing more options for homebuyers.
  • The market has calmed compared to the pandemic frenzy, and sellers need to manage their expectations.
  • Professional licensed REALTORS® are instrumental for buyers and sellers in this fluid market.

Note: All percentages mentioned above are calculated in comparison to the corresponding data from the previous year unless otherwise specified.

Please contact me with any questions and to help you navigate you home sale or purchase. 

Source: OREB

Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy. 

Read

OREB has released the stats for the June 2023 market. What does this all mean? By the numbers below for a quick snapshot. Read the full release here.

Sales Volume:

  • Total residential properties sold in June 2023: 1,658
  • Compared to June 2022: 1,493 properties (11% increase)
  • Freehold properties sold in June 2023: 1,234
  • Compared to June 2022: 1,122 freehold properties (10% increase)
  • Condominium properties sold in June 2023: 424
  • Compared to June 2022: 371 condominium properties (16% increase)

Average Sale Prices:

  • Average sale price of a freehold-class property in June 2023: $746,445
  • Compared to 2022: 4% decrease
  • Still on par with May 2023 prices
  • Average sale price of a condominium-class property in June 2023: $448,380
  • Compared to 2022: 2% increase
  • Up 1% over May 2023 prices
  • Year-to-date average sale prices (2023):
    • Freehold-class properties: $731,847
    • Condominium-class properties: $432,885
  • Compared to 2022:
    • Freehold-class properties: 10% decrease
    • Condominium-class properties: 7% decrease

Inventory & New Listings:

  • New listings in June 2023: 2,758
  • Compared to June 2022: 3,212 new listings (14% lower)
  • Compared to May 2023: 2,822 new listings (2% lower)
  • 5-year average for new listings in June: 2,802
  • Months of Inventory (June 2023):
    • Freehold-class properties: 2.1 months
    • Condominium-class properties: 1.4 months
  • Compared to June 2022:
    • Freehold-class properties: Increased from 1.9 months
    • Condominium-class properties: Decreased from 1.6 months
  • Compared to May 2023:
    • Condominium-class properties: Increased from 1.3 months

Days on Market (DOM):

  • Freehold properties: 23 days
  • Condominium properties: 27 days

Rental Assistance by OREB Members:

  • Properties rented by OREB Members since the beginning of the year: 3,336
  • Compared to last year at the same time: 2,919 properties (14% increase)

Note: All percentages mentioned above are calculated in comparison to the corresponding data from the previous year unless otherwise specified.


Please contact me with any questions and to help you navigate you home sale or purchase. 

Source: OREB

Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy. 

Read

Ottawa's resale market is thriving and steadily progressing towards pre-pandemic levels seen in 2022. As new listings struggle to keep up, the available housing stock is decreasing, resulting in less than two months of inventory. This situation has once again turned the tables in favor of sellers, making it a seller's market, according to Ottawa Real Estate Board President Ken Dekker.

Average Prices Highlights:

  • Average prices have soared by 13.9% in just four months since the market's low point in December 2022.
  • The average sale price for a freehold-class property in April was $747,123, representing a 10% decrease compared to 2022. However, it also signifies a 5% increase over March 2023.
  • Condominium-class properties have an average sale price of $435,875, experiencing an 8% decline from last year. Nevertheless, still a 4% gain compared to March 2023.
  • Looking at the year-to-date figures, freehold-class properties have an average sale price of $718,633, reflecting a 13% decrease from 2022. For condominium-class properties, the average sale price is $421,722, indicating a 10% decrease from the previous year.

These statistics reveal a flourishing real estate market in Ottawa, characterized by rising average prices and a shortage of available properties. It's an opportune time for sellers, and buyers should be prepared for a competitive market.


Please contact me with any questions and to help you navigate you home sale or purchase. 

Source: OREB

Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy. 

Read

Real Estate Market in Ottawa: December 2022 to March 2023

The Ottawa real estate market saw a significant decrease in sales activity during December 2022, with a total of 601 residential properties sold through the Board’s Multiple Listing Service (MLS) system, compared to 857 in the same month the previous year. Sales in the residential property class were down 22% from a year ago, while sales in the condominium property category decreased by 48% compared to December 2021. However, despite the slowdown, the market was considered to be balanced.

In January 2023, the market started to show signs of improvement. Although sales remained lower than in the previous year, the decline was less pronounced. A total of 761 residential properties were sold, a decrease of 11% from January 2022, while 239 condominiums were sold, down by 30%.

February 2023 saw a continuation of the trend towards a more balanced market. Sales activity remained lower than in previous years, but the decline was less pronounced compared to December 2022. A total of 801 residential properties were sold, a decrease of 8% from February 2022, while 230 condominiums were sold, down by 35%. 

In March 2023, the market continued to show signs of improvement. A total of 942 residential properties were sold, a decrease of 2% from March 2022, while 290 condominiums were sold, down by 21%. 

Overall, the trend in the Ottawa real estate market over the four months from December 2022 to March 2023 was a decline in sales activity compared to previous years, but with a less pronounced decline in January and February, and signs of improvement in March. The market remained balanced throughout this period. It is difficult to make projections for the market in 2023 due to the many factors that can influence it. However, the high prices seen in the spring of 2022 could also influence market activity in the coming months. REALTORS® can provide expert insights and industry resources to help buyers and sellers navigate the complexities of the market.


Please contact me with any questions and to help you navigate you home sale or purchase. 

Source: OREB

Information located on this site is from sources believed to be reliable but should not be relied upon without verification. We assume no responsibility for its accuracy. 

Read

Living in Ottawa - Canada's Capital

If you're considering a move to or within Ottawa, you're in for a treat! Ottawa is a vibrant and welcoming city, with a diverse population, a thriving arts scene, and plenty of outdoor activities to keep you busy year-round. Whether you're a young professional looking for a fast-paced urban lifestyle, a family searching for a safe and family-friendly community, or a retiree seeking a peaceful and quiet place to call home, Ottawa and its surrounding towns have something for everyone.

Ottawa is the capital city of Canada and home to many of the country's most important landmarks, such as Parliament Hill, the Rideau Canal, and the National Gallery of Canada. The city boasts excellent public transportation, top-rated schools, and a strong economy with a diverse range of job opportunities in sectors such as government, technology, and healthcare.

If you're looking for a quieter, more rural lifestyle, the charming towns of Almonte, Kemptville, Carleton Place, Perth & Arnprior are excellent choices. These towns offer a peaceful and tight-knit community, with beautiful parks, walking trails, and local farmers' markets. With easy access to Ottawa, you'll still have all the amenities of a big city within reach while enjoying a more laid-back pace of life.

No matter what your lifestyle preferences are, Ottawa and its surrounding towns offer a wealth of opportunities and a high quality of life. From the beautiful natural scenery to the rich cultural heritage and diverse population, there's always something new to discover in this wonderful city.

Read

Village of Manotick

Manotick is a charming village nestled on the Rideau River in Ontario, Canada, offering residents a peaceful and picturesque place to call home. The community is rich in history and boasts a vibrant present, making it an inviting place for anyone looking for a beautiful and welcoming community.

Founded in the early 1800s, Manotick has a long and fascinating history that can be seen in its architecture and landmarks. The Watson's Mill, for example, is a stunning heritage site that was built in 1860 and is now a museum, offering visitors a glimpse into the village's past. Additionally, the Manotick Village & Community Association works to preserve the area's history, providing walking tours and educational programs for locals and tourists alike.

Today, Manotick is a bustling community with a vibrant local economy, featuring a variety of shops, restaurants, and services. The village is home to a range of independent businesses, from specialty food shops to clothing boutiques, as well as larger retailers and supermarkets. Residents enjoy a strong sense of community, with regular events and festivals that bring people together, including the popular Manotick Farmer's Market and the annual Dickinson Days celebrations.

Despite its growth, Manotick has maintained its small-town charm and community spirit. The village is known for its friendly locals and welcoming atmosphere, making it a great place to call home for families and individuals alike. Residents enjoy a high quality of life, with access to excellent schools, healthcare, and recreational facilities, including parks, sports fields, and the Rideau River.

Manotick is a beautiful and inviting place to live, with a rich history and a vibrant present. Whether you're looking to settle down or simply visit, you'll find a warm welcome in this charming village on the banks of the Rideau River.

Read

Town of Kemptville

Kemptville is a quaint and charming town situated in the heart of Ontario, Canada with easy access to Hwy 416 connecting to both Ottawa and the 401. This picturesque community offers residents a wonderful place to call home, with a rich history, vibrant present, and exciting future.

Founded in the early 1800s, Kemptville has a proud heritage that can be seen in its historic buildings and landmarks. The town played a crucial role in the development of Eastern Ontario, serving as a transportation hub and center for commerce and agriculture. Today, Kemptville's history is celebrated through various events and festivals, including the Kemptville Live Music Festival and the Kemptville Agricultural Fair.

Despite its deep roots in the past, Kemptville is also a town that is rapidly growing and changing. The community is home to a range of modern amenities and services, including excellent schools, healthcare facilities, and recreational opportunities. The town also boasts a thriving local economy, with a diverse range of businesses and services catering to residents' needs.

Kemptville's community is one of its greatest assets, with friendly locals and a strong sense of community spirit. Residents enjoy regular events and gatherings, including farmers markets, music festivals, and community fairs. The town's parks and trails are popular gathering spots, offering opportunities for outdoor recreation and socializing.

Living in Kemptville means enjoying a high quality of life, with access to all the amenities of a larger city while still enjoying the charm and friendliness of a small town. Whether you're a young family looking for a safe and welcoming place to raise your children or a retiree seeking a peaceful and beautiful place to call home, Kemptville has something for everyone.

Kemptville is a wonderful place to live, work, and play, with a rich history, strong sense of community, and exciting future. So why not come and see for yourself what this charming town has to offer? We invite you to visit Kemptville and discover all the reasons why so many people are proud to call this beautiful community home.

Read

The Village of Pakenham

Pakenham is a charming town located in Eastern Ontario, Canada, that offers a unique blend of natural beauty, cultural heritage, and small-town charm. This delightful community is a great place to live, work, and play, with something for everyone to enjoy.

One of the town's most attractive features is the Pakenham Ski Hill, a popular winter destination that attracts visitors from all over the region. The ski hill offers a range of runs for skiers and snowboarders of all levels, as well as a terrain park for those looking for a challenge. The ski hill also offers tubing, providing endless hours of fun for families and friends. 

One of the town's most iconic landmarks is the historic 5 Span Bridge, which crosses the Mississippi River and is a popular destination for visitors and locals alike. Built in 1903, the bridge is an impressive engineering feat, with five separate spans that allow it to withstand the strong currents of the river. The bridge is also a popular spot for fishing and provides a picturesque backdrop for photos.

In addition to the 5 Span Bridge, Pakenham is also rich in natural beauty, with the nearby Mississippi River offering a wide range of recreational activities such as fishing, kayaking, and swimming. The town also has several scenic hiking and biking trails, providing ample opportunities for outdoor adventure.

Pakenham is also home to several historic buildings and museums, including the Pakenham General Store, which dates back to 1840 and is one of the oldest continuously operating general stores in Canada. The town's Main Street is also lined with unique shops, restaurants, and cafes, providing plenty of options for dining, shopping, and entertainment.

The friendly and welcoming community in Pakenham is one of the town's greatest assets. Residents enjoy a close-knit community spirit and an active social scene, with many events and festivals throughout the year. The town also has excellent schools and healthcare facilities, making it a great place to raise a family.

Pakenham offers a high quality of life with a perfect balance of nature, culture, and community, making it a great place to call home or consider for a move to Ontario.

Read

Living in Carleton Place

Carleton Place is a charming and vibrant town located in the heart of Ontario, Canada. Known for its rich history, beautiful scenery, and friendly community, Carleton Place is the perfect place to call home.

One of the greatest aspects of living in Carleton Place is the town's small-town feel combined with big-city amenities. Residents enjoy a variety of local shops, restaurants, and events, while still having easy access to Ottawa's bustling city center, which is just a short drive away.

The town also boasts beautiful parks, trails, and waterways that provide endless opportunities for outdoor recreation. Whether you enjoy hiking, biking, fishing, or boating, Carleton Place has something for everyone.

The community spirit in Carleton Place is truly special, with residents coming together for various events and festivals throughout the year. From the Mississippi Mills Music Festival to the popular Farmer's Market, there's always something happening in this lively town.

Carleton Place offers a high quality of life with a welcoming and inclusive community. If you're looking for a great place to live or considering a move to Ontario, Carleton Place should be at the top of your list.

Read

Town of Smiths Falls

Smiths Falls is a charming town located in Eastern Ontario, Canada, known for its rich history, beautiful natural surroundings, and strong sense of community. This picturesque town is a wonderful place to call home, offering residents a high quality of life and a range of amenities and services.

Smiths Falls has a long and fascinating history, dating back to the early 19th century. The town played a crucial role in the development of Eastern Ontario, serving as a transportation hub and center for commerce and industry. Today, the town's history is celebrated through various events and landmarks, including the Rideau Canal, which runs through the heart of the town and is a designated UNESCO World Heritage site.

The community in Smiths Falls is one of its greatest strengths, with friendly locals and a strong sense of community spirit. Residents enjoy regular events and gatherings, including farmers markets, music festivals, and community fairs. The town's parks and trails are popular gathering spots, offering opportunities for outdoor recreation and socializing.

Living in Smiths Falls means enjoying a high quality of life, with access to all the amenities of a larger city while still enjoying the charm and friendliness of a small town. The town is home to a range of modern amenities and services, including excellent schools, healthcare facilities, and recreational opportunities. The town's downtown core also boasts a variety of shops, restaurants, and services, catering to the needs of residents and visitors alike.

Despite its small size, Smiths Falls offers a range of opportunities for residents and visitors alike. The town is known for its beautiful natural surroundings, including scenic waterfalls and the nearby Rideau Canal. Outdoor enthusiasts will appreciate the town's many parks and trails, while cultural enthusiasts will enjoy the town's many art galleries, museums, and theaters.

Smiths Falls is a wonderful place to live, work, and play, offering a rich history, strong sense of community, and range of amenities and services. Whether you're looking for a peaceful and beautiful place to retire or a vibrant community to raise your family, Smiths Falls has something to offer everyone. So why not come and see for yourself what this charming town has to offer? We invite you to visit Smiths Falls and discover all the reasons why so many people are proud to call this beautiful community home.

Read

Town of Perth

Perth is a beautiful town located in Eastern Ontario, Canada, known for its historic charm, strong sense of community, and abundant natural beauty. This picturesque town is a wonderful place to call home, offering residents a high quality of life and a range of amenities and services.

Founded in the early 19th century, Perth has a rich history that is celebrated throughout the town. The town's historic architecture and landmarks, including the Perth Town Hall and the Stewart Park Festival, offer a glimpse into the area's past, while events and festivals such as the Perth Garlic Festival and the Perth Kilt Run showcase the town's vibrant present.

Perth's community is one of its greatest strengths, with friendly locals and a strong sense of community spirit. Residents enjoy a range of local events and gatherings, from farmers markets and art shows to concerts and sporting events. The town's parks and trails are also popular gathering spots, offering opportunities for outdoor recreation and socializing.

Despite its small size, Perth offers a range of amenities and services to its residents. The town is home to a number of excellent schools, healthcare facilities, and recreational opportunities, including a public library, community center, and sports fields. The town's downtown core also boasts a variety of shops, restaurants, and services, catering to the needs of residents and visitors alike.

In recent years, Perth has experienced significant growth and development, with new businesses and residential developments popping up throughout the town. Despite this growth, however, Perth has managed to maintain its small-town charm and strong sense of community, making it an inviting place to call home for families, individuals, and retirees alike.

Perth is a wonderful place to live, work, and play, offering a rich history, strong sense of community, and range of amenities and services. Whether you're looking for a peaceful and beautiful place to retire or a vibrant community to raise your family, Perth has something to offer everyone. So why not come and see for yourself what this charming town has to offer? We invite you to visit Perth and discover all the reasons why so many people are proud to call this beautiful community home.

Read
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.