New property listed in Ottawa

We are very excited to share our new listing at 182 GOLDRIDGE DRIVE in Ottawa.
Welcome home to 182 Goldridge Dr. in the heart of Kanata Lakes! Rare find, a WALKOUT & HUGE yard. Beautifully updated in 2022 including gorgeous kitchen, quartz countertops, custom island, SS appliances, backsplash, pendent lights over extra large island & cabinetry, Furnace, pot lights, new cheater ensuite bath, freshly painted. Lovely 3 bdrm home features open concept kitchen, DR & LR. Brightly lit living space w/ beautiful hardwood flooring throughout main & lower level. Main level offers large master bdrm, WIC & a 2nd closet, generous sized 2nd bdrm, & a spa like cheater ensuite. Lower level provides huge FR w/ gas fireplace, 3rd bdrm w/ large window, office, full bathroom, mud room & spacious laundry/storage room. Close to excellent Schools - Earl of March, All Saints, & great Elementary Schools. Centrally located w/ easy access to highway 417, grocery, shops, restaurants, parks, trails, transit, & Kanata High-tech Park. Per form 244, 24 hr Irrev on offers & Min $20K deposit. (id:2493)

New property listed in Ottawa

We are very excited to share our new listing at 20 TEESWATER STREET in Ottawa.
Sleek, bright and renovated END UNIT townhome in much desired Village Green. Totally renovated eat-in kitchen features quartz countertops, all new cabinetry lit inside and underneath, pot and pan drawers, art-deco backsplash, all new stainless appliances including over the range microwave, and vaulted ceilings in the eating area overlooking the yard. Large living room with gas burning fireplace and spacious dining room. The master bedroom features walk-in closet and luxurious ensuite with deep soaker freestanding tub, and separate shower. Two additional bedrooms, laundry and full bathroom located on the second floor. Bright lower level features large rec room with den area for those who work from home and loads of pot lights. All three bathrooms have been updated. Fenced yard w/deck. Freshly painted, newer AC, furnace and roof, and all vinyl windows. Located in one of the best school zones in the city, close to trails, parks, restaurants and shopping. *O/H Sunday June 12, 2-4pm.* (id:2493)

Ottawa Market Trends May 2022

Members of the Ottawa Real Estate Board sold 1,846 residential properties in May through the Board’s Multiple Listing Service® System, compared with 2,285 in May 2021, a decrease of 19 per cent. May’s sales included 1,384 in the residential-property class, down 22 per cent from a year ago, and 462 in the condominium-property category, a decrease of 11 per cent from May 2021. The five-year average for total unit sales in May is 2,031.

“With year-over-year resales declining in March and April, and now with this downward trend continuing into May, traditionally the highest performing month for resales, it is quite clear that Ottawa’s resale market is shifting away from the blazing pace of 2021,” states the Ottawa Real Estate Board President. “And if rising interest rates, cost of living, and inflation aren’t enough factors to cause a pullback, the powerful and deadly storm that brought our city to its knees last month has justifiably impacted the market as well.”

“Our data shows a sharp decline in new listings with a corresponding increase in cancelled/suspended listings on the MLS® System in the period following the storm. Overall, in May, however, there were 3,120 properties that entered the market. This is on par with last May and is 5% over the 5-year average. The result is an 18% increase in residential-class inventory. Meanwhile, there was a slight decline (0.4%) in condominium inventory, but this is not surprising since they have likely become an entry point for many first-time homebuyers due to the affordable price point.”

The average sale price for a condominium-class property in May was $472,920, an increase of 11 per cent from 2021, while the average sale price for a residential-class property was $802,393, increasing 8 per cent from a year ago. With year-to-date average sale prices at $824,276 for residential and $470,353 for condominiums, these values represent a 12 per cent increase over 2021 for both property classes.*

“Average prices, while still higher than 2021, are showing signs of adjusting to the pace of the market with a month-over-month decrease of 2% in both property classes. In April, we also saw a decline of 1-3%. In contrast, January to March experienced month-to-month increases ranging from 2% to 12%. This may be good news for Buyers, including the fact that the months of inventory have increased to 1.2 for residential and 1 month for condominiums. We are still a far cry away from a balanced market, but it finally seems to be moving in the right direction.”

“Additionally, another statistic that we see increasing is the cumulative days on market (CDOM), which is now 14 days, increasing from 11 days last May. CDOMs are typically between 30-60 days in a balanced market, and usually closer to that one-month mark in Ottawa. I mention this because we don’t want Sellers to panic if their homes aren’t selling as quickly as perhaps their neighbours’ properties did. Buyers will also have a little more breathing room if this trend continues.”

“But at the end of the day, each property for sale has its own hyper-local market factors (location, condition, other properties for sale in the same neighbourhood, etc.) that will affect the final sale price. If you want to know the most accurate price point to sell your home or what is the true market value of a home you are interested in, a licensed professional REALTOR® has the education and the experience with access to the most current market statistics and property information, to guide you into making the optimal decision for you and your budget.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members assisted clients with renting 2,320 properties compared to 1,837 last year at this time.
Courtesy of the Ottawa Real Estate Board

New property listed in Ottawa

We are very excited to share our new listing at 612 BANK STREET UNIT#27 in Ottawa.
Steeped in character and period details, this beautiful sun splashed spacious 2 bedrooms Condo unit in the Glebes Landmark building, the Ambassador Court! Offers views to be enjoyed year-round overlooking Central Park. The cleverly designed kitchen makes cooking a breeze with ample counter and cupboard space; while the generous dining room can accommodate large gatherings for entertaining. The spacious living room accented by a bay window and decorative fireplace is the perfect place for relaxing or entertaining, and enjoy working from home in your cozy den with natural light and views. Large master bedroom has 2 nicely sized closets. Second bedroom overlooks the park and has ensuite access to the main bath. Take a walk in the parks or the paths along the Canal to enjoy the Glebe lifestyle. With easy access to shops, services & amenities along Bank St, don't miss out on this special opportunity. "No Conveyance of any offers until 1:00pm on June 7, 2022" (id:2493)
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