Brent McElheran - Ottawa Real Estate

04/08/2022

The beginning of the spring season experienced a slower start with fewer homes sold compared to the year before. With the lift of COVID-19 restrictions, people pivoted their attention to unfettered travel and other activities. However, the positive side of this is that house inventory increases within the resale market. These properties are being quickly absorbed due to the high demand for listings.

Compared to the previous year, the average value for residential homes is up 13% and 10% for condominium homes! 🏡

We anticipate April’s numbers to indicate better just how the spring market will perform, which tends to be the peak time of the year for resales! 📈

If you’re a homeowner looking to sell your property, there has never been a better time than now!

Learn more about the market in our report below:
https://members.oreb.ca/wp-content/uploads/2022/04/NewsReleaseMAR_2022.pd

03/08/2022

The 2022 housing market is showing significant signs of growth and an increase in value for residential and condominium homeowners. Sale prices are continuing to increase, reaching record-breaking levels.

Compared to the previous year, the total number of homes sold is up 3%, at 1,421, with the average sale price of a residential home up 17% from last year and 15% for a condominium, respectively.

This is excellent news to see as a homeowner—the five-year average for total unit sales in February is 1,184, and this year, the market is above that!

If you’re a homeowner looking to sell your property, there has never been a better time than now!

Learn more about the market in our report below:
https://members.oreb.ca/wp-content/uploads/2022/03/NewsReleaseFEB_2022.pdf

02/08/2022

The 2022 housing market is showing great promise for residential and condominium homeowners as sale prices are reaching record-breaking levels.

Compared to last year's market, the average residential home sale has gone up 14%, and the average sale of a condominium is up 18%.

So, if you are a homeowner looking to sell your property, there has never been a better time than now to make an increase in profit on the sale of your home!

01/07/2022

Although December's market experienced a slower period, the market remained above the 5 year average, in addition to showing significant increases in sales volume resulting in price acceleration!

Homeowners can also see an increase in their property value, as residential properties have increased by 24%, and condominium properties up 16% compared to 2020.

It's an exciting time to be in the housing market. To learn more about December's market update, click the link below.

https://members.oreb.ca/wp-content/uploads/2022/01/NewsReleaseDEC_2021.pdf

12/06/2021

November's housing market has shown an increase in value for both a residential home and condominium, with the average of these home sales up 19% each, compared to the year before.

The overall number of properties sold this past November was also 8% higher than the five-year average, thus, it is fair to say that the resale market remains active.

While a drop in inventory volume remains typical for November, the market is in a far better situation than the monthly price escalations as seen in the first quarter of 2021!

Read more about this in the article linked below:

https://bit.ly/3lCfLhq

11/26/2021

If you were starting to get concerned that the condo market had gone bust, or there were few opportunities to make money buying and renting a condo today, you actually have nothing to worry about. Condos are a good investment today, and they will continue to be in the future. Here’s why:

You have nothing to worry about. Condos are a good investment today, and they will continue to be in the future. Here’s why:

11/08/2021

This year, October’s housing market has shown an increase in value for a home and condominium, with average residential home sales up 19% at $716,378, and respectively up 10% ($404,760) for a condominium.

The overall number of properties sold this year was significantly less than last year, down 21% from October 2020 for residential homes and a decrease of 14% for condominiums.

Low inventory during October has caused an upward trend on prices which are holding strong and steadily increasing.

To learn more about October’s overall housing market and resale market, click the link below.

https://members.oreb.ca/wp-content/uploads/2021/11/NewsReleaseOCT_2021.pdf

10/08/2021

This year, September’s housing market has shown an increase in value for a home and condominium, with average sales of a residential home up 13% at $702,155, and respectively up 14% ($425,362) for a condominium.

The overall number of properties sold this year was significantly less than last year, down 29% from September 2020 for residential homes and a decrease of 36% for condominiums.

Fortunately, house values are holding steady with a slight month-to-month increase during the month of September (4-5%), and year-to-date average prices remain strong for both residential and condo properties.

To learn more about September’s overall housing market and resale market, click the link below.

https://members.oreb.ca/wp-content/uploads/2021/10/NewsReleaseSEPT_2021.pdf

09/17/2021

If you’re looking to find the latest up-and-coming neighbourhoods in Ottawa before it’s too late, check out the list here and then contact us to set up a tour.

If you're looking to find the latest up-and-coming neighbourhoods in Ottawa before it's too late, check out the list here.

08/26/2021

If you have pets and are planning to list, follow these seven tips when selling your home to keep everyone happy and avoid deterring potential buyers.

Selling a home can be overwhelming, especially when it comes to marketing and showing your home. Click here for pet tips when selling.

07/19/2021

Are you considering buying an investment property in Ottawa? Here, we’ll show you a few of the top reasons why you should consider investment property in Ottawa and why it might be worthwhile.

Here, we’ll show you a few of the top reasons why you should consider investment property in Ottawa and why it might be worthwhile.

06/22/2021

Ottawa has a lot to offer beyond the popular districts like the Byward Market or the Glebe. So when you’re in the mood to explore, here are a few hidden gems you should check out!

Ottawa has a lot to offer beyond the popular districts like the Byward Market or the Glebe. Here are a few hidden Centertown gems you should check out!