Archives for RLP News

Ottawa Real Estate “Market  Snapshot”  January 2016

 

 

January Stats 2016-infographic

 

Statistics  are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties.  If you are curious about the value of your home and/or specific neighbourhood statistics we would be happy to provide you with information, no obligation, please contact us at info@teamrealty.ca if you have any questions.  We look forward to hearing from you! 

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*provided by the Ottawa Real Estate Board 

Members of the Ottawa Real Estate Board sold 601 residential properties in January through the Board’s Multiple Listing Service® system, compared with 626 in January 2015, a decrease of four per cent. The five-year average for January sales is 618.

“The market momentum gained from the warmer weather in the latter part of 2015 has eased off with the arrival of typical winter weather in January,” says President of the Ottawa Real Estate Board, Shane Silva. “We are seeing a drop in the number of residential and condo properties listed this January over the year before. However, the number of properties listed almost doubled the amount listed in December – a normal occurrence at the beginning of the year as people begin to plan for the year ahead.”

January’s sales included 129 in the condominium property class, and 472 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, 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.

“Residential unit sales this month were down, while condominium unit sales were up, over last year,” says Silva. “Residential two-storey and bungalow homes continue to have the highest concentration of buyers, with three-storey homes increasing in sales by over 50 per cent since this time last year. Two-storey condominium properties had a similar increase, showing the same amount of unit sales as one-level properties.”

The average sale price of a residential-class property sold in January in the Ottawa area was $386,839, an increase of 4.6 per cent over January 2015. The average sale price for a condominium-class property was $247,205, a decrease of 1.3 per cent over January 2015. 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.

“A possible explanation for the increase in residential average sale price this month over last year is that the amount of properties sold over $1 million doubled that of last year, with six properties sold this month,” notes Silva. “Nevertheless, the hottest segments of our market in January were sales in the $300,000 to $400,000 range, followed closely by the $200,000 to $300,000 range. In addition to residential and condominium sales, OREB members assisted clients with renting 200 properties in January.”

Source: Blog

Mild weather and post-election enthusiasm spurs on home buyers!

 

Statistics are useful in establishing trends but should not be used as an indicator of an increase or decrease in value of specific properties. If you are curious about the value of your home and/or specific neighbourhood statistics we would love to help. Contact us.

 

 

December 2015 Market update graphic-Team

 

 

Information below provided by the Ottawa Real Estate Board December 3rd, 2015

Members of the Ottawa Real Estate Board sold 990 residential properties in November through the Board’s Multiple Listing Service® System, compared with 891 in November 2014, an increase of 11.1 per cent. The five-year average for November sales is 944.

“Mild temperatures in November, combined with increased activity post-election, were key factors in the Ottawa resale market performing exceptionally well in November,” says David Oikle, President of the Ottawa Real Estate Board. “The positive increase in condo sales may be explained by buyers moving to Ottawa to accept positions with the new government. There may have also been some pent up demand of people who chose to sit on the sidelines until after the election was over.”

November’s sales included 199 in the condominium property class, and 791 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.

“The condo market has picked back up over the past few months – a very positive change from the first half of the year, and now year-to-date condo sales have surpassed the numbers of units sold in 2014,” says Oikle. “Inventory levels are balancing out, cumulative days on market increased to 104 days, and average residential sale prices remain steady. This is very typical of a market that’s heading into the winter season.”

The average sale price of a residential-class property sold in November in the Ottawa area was $380,761, a decrease of 0.4 per cent over November 2014. The average sale price for a condominium-class property was $275,332, an increase of 9.9 per cent over November 2014. 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 highest concentration of properties sold remains in the $300,000 to $400,000 price range, followed very closely – behind by only 26 properties – the $200,000 to $300,000 range,” says Oikle. “In addition to residential and condominium sales, OREB members assisted clients with renting 247 properties in November, and over 2,800 since the beginning of the year.”

Source: Blog

Machu Picchu ad

Machu Picchu Challenge for Shelter

August 2015  in Machu Picchu, Peru

In support of the Royal LePage Shelter Foundation people from Royal LePage offices across Canada have started the trek to Machu Picchu to help restore hope for women and children escaping violence.

“For eight days, 70 enthusiastic supporters are trekking at high altitude, camping in tents, and forgoing running water, electricity and cellphone service to raise funds and awareness for the Royal LePage Shelter Foundation.  Each participant was required to raise $5,000 and will be covering their own travel expenses.”  …read more

Royal LePage Team Realty is proud to have our sales representative Hanna Browne representing our company and supporting this amazing cause!   Good luck to Hanna and all of the participants we can’t wait to hear about your adventures.

 

 

Source: Blog