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2020
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The 7 Home Design Resolutions That Will Make You Happier
New Year's resolutions don't just have to be for you - they can be for your home too! Whether you're looking to be more organized, incorporate bolder designs, or are finally ready to update an area that drives you crazy, there's ways to tackle any resolution.
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The Rideau Canal is Open to Skaters Today
We can be thankful for this bout of cold weather because it's official! The Rideau Canal Skateway is open to skaters today.
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A Strong Finish for Ottawa’s Real Estate Market in 2017
2017 was quite a year in the Ottawa Real Estate market; record breaking numbers in units sold (condominium sales up over 22%) and double digit (percentage) increases in average sale price in several neighbourhoods, Canada 150 (or should we say Ottawa 150?!) was anything but average!
Below we’ve included the latest news release from the Ottawa Real Estate Board. Please note: 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. We have access to current statistics and trends in our neighbourhoods and communities, it’s our job to stay on top of the market trends! We have up to date Real Estate Market Reports readily available for you and we love to chat real estate – contact us anytime!
From the Ottawa Real Estate Board: January 4th, 2018
Members of the Ottawa Real Estate Board sold 771 residential properties in December through the Board’s Multiple Listing Service® System, compared with 711 in December 2016, an increase of 8.4 per cent. The five-year average for December sales is 687.
December’s sales included 205 in the condominium property class and 566 in the residential property class. The average sale price of a residential-class property sold in December was $434,098, an increase of 3.4 per cent over December 2016. The average sale price for a condominium-class property was $255,335, a decrease of three per cent from December 2016.
“December saw an increase of 8.4 per cent in the number of units sold in residential sales and 25 per cent in condo sales. This could very well be attributed to the changes in the mortgage qualification rules implemented January 1, 2018,” speculates Ralph Shaw, 2018 President of the Ottawa Real Estate Board.
“2017 was another solid year for the Ottawa Real Estate market in both the number of transactions as well as the reasonable increase in prices, about seven per cent in residential and three per cent in the condo market,” Shaw acknowledges. “We continue to have a stable and balanced market. Although inventory tracked low all year and new listings were down each month, new home supply counteracted the impact somewhat.”
The total number of residential and condo units sold through the Board’s MLS® System throughout all of 2017 was 17,083, compared with 15,526 in 2016, an increase of ten per cent. Overall, residential sales volume was up 16 per cent.
“In 2017, the condo market rebounded with a 22 per cent increase in the number of units sold, which is quite significant. The relatively flat increase in prices suggests that we found the ideal price point in which to move the units,” Shaw concludes. “As for residential sales, there was a good availability of product under $500,000 considering almost 10,000 out of approximately 13,500 residential units sold fell in that range.”
2017’s average residential sale price was $425,063, an increase of 6.8 per cent over 2016, while the average condominium sale price was $269,903, an increase of 3.4 per cent over 2016. 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.
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11 Ways to a New, Fresh Home
It's a New Year, so why not freshen up your home? Find 11 unique ways to completely update the look of your home.
Click here for the full article.
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Happy New Year!
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Ring in the New Year, Ottawa Style!
2017 is coming to an end and it's been an epic year of celebrating Canada's 150. Ring in the New Year with one of the incredible events happening all over the city!
Click here for the full list of events.
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Happy Holidays!
Wishing you and yours a safe and happy holiday!
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2017 Recap!
2017 was an amazing year for Real Estate in Ottawa! Records were broken and property values continue to increase. As the year comes to a close, let’s take a look back at some of the highlights with our Top 20 Blog Posts of 2017!
#20 – Understanding Multiple Offers
This year the Ottawa market became more competitive than ever before and multiple offers have become far more common. Here are some helpful hints to help you navigate multiple offers!
New research emerged this year showing that more and more homeowners are making housing decisions with their furry friends in mind while others are avoiding homes where pets have lived. Let’s look at the impact of pets and how they can affect real estate.
#18 – Your Home and Winter Travels
It’s at this time of year that many of us choose to get away; whether it’s visiting family for the holidays or heading somewhere sunny and warm, there are certain things you must consider before leaving your home for an extended period of time.
It seems that everywhere you turn, builders are building new homes around Ottawa. Deciding between a new home or a resale home can be challenging but this article breaks it down for you. And remember, a Realtor can assist you in buying a new-build home to make sure that you have someone on your side!
#16 – Why it Doesn’t Always Pay to Sell Your Home Yourself
As the market heats up, many people believe that they can take advantage and save some money by listing their home themselves (without a Realtor). In many cases though, this may actually cost you more. Read on to find out more!
#15 – Buying a Home that is “For Sale By Owner”
Just because the seller has decided to go it alone, does not mean that you must do the same. To ensure that you know what you’re buying and that the whole process goes smoothly, it’s always best to hire a Realtor.
#14 – Residential Landlord Rules: An Update
There were many changes in the last year affecting both landlords and tenants in Ontario. New protections for tenants were put into place including rent control. Whether you’re a tenant, a landlord, or looking at buying an investment property, it’s important to understand all these changes.
#13 – Here’s an Idea of What Goes Into Pricing Your Home
There is a lot that goes into pricing a home to ensure maximum return for the sellers in the quickest time. Realtors have many tools at their disposal to ensure that a home is priced competitively in the current market.
#12 – Backup Offers: What They Are and How They Work
With the competitive market this year came lots of talk about “backup offers”. Find out how they work and how they can be a great option for both buyers and sellers in some situations.
#11 – The Role of a Realtor When Selling a Home
What exactly does a Realtor do for you when selling your home? A lot more than you may think! Everything from marketing to paperwork, get a little insight into what goes into selling home.
#10 – The Role of a Realtor When Buying a Home
As a follow up to #11, let’s look at what a Realtor can do for you when buying a home. Having a buyer’s agent on your side is always the best scenario to ensure that your best interests are being considered.
#9 – Why You Should Check Out That Open House
The internet changed the real estate world and with that more people are house hunting online than ever before! That being said, there are some pretty great advantages to attending open houses so this should not be overlooked!
#8 - “Oh I Forgot to Tell You…”
What are sellers legally required to disclose about a property? The simple answer is any known latent defects but what about stigmas? Find out how to protect yourself if a stigma would be of concern to you. Stigmas include a house being haunted, the site of a violent crime or death, or the location of a grow op.
With rising house prices and changes to the mortgage rules that can make it more challenging for first time home buyers to get approved, more and more millennials are turning to their parents for help buying a home.
#6 – New Year Reno-Resolutions
Are you planning any major (or minor) renovations in the coming year? Now is the time to start planning and budgeting! Like any other resolution, keep it realistic to ensure the greatest likelihood of success.
#5 – Bang for Your Buck Renos That Will Increase Your Home’s Value
After reading #6, you may have some great ideas but you’re not sure of which renos will provide the greatest return on investment. Check out this guide to find out!
#4 – Why Listing Price is So Important?
A lot of talk surrounds the listing price of a home but why does it matter so much? If a home is priced right, it will bring the seller top value in the shortest amount of time possible. If priced too high or low, both can be negatively affected.
#3 – Choosing a Brokerage When Buying or Selling
What things should you look for in a brokerage when choosing who to buy or sell your home with? Royal LePage Team Realty offer top level resources and support to our Realtors to ensure client satisfaction.
#2 – Primary Residence Tax Exemption
This was a major change in 2017 and something to keep in mind when doing your taxes! Although the rules did not change for this tax exemption, everyone will now have to declare the purchase and sale of property even if it is their primary residence. Make note for April if this applies to you!
This topic dominated the real estate talk for the last few months of 2017 and it’s important that everyone understands the implications of these changes. Take a moment to watch this great video to get a clearer view!
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White Christmas “Guaranteed” for Ottawa
This year, Ottawa is looking at a white Christmas in the forecast. Those looking forward to a snowy Christmas Day should be pleased!
Click here for the full article.
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Want to know how Stittsville is stacking up against the rest of the Ottawa market?
Call us direct
613-963-0029
With every transaction, Team One Homes donates a % directly to the Royal LePage Shelter Foundation.
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