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Welcome to TRU Realty - Zaman Naz

We are very happy to announce that Zaman Naz has joined TRU Realty.

Zaman has been licensed for several years to trade in real estate and in addition, has a lengthy career in business, administration and lending. Zaman appreciated TRU Realty's management, flexibility and dedicated team support which he recognized will be an asset for him that will in turn assist his clients.

We encourage all Zaman's past and future clients to contact him for all their real estate needs! 

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Welcome to TRU Realty - Patricia Clarke

We are really proud to announce that Patricia Clarke has joined TRU Realty!

Patricia has been selling real estate for over 17 years not only in Ontario but also in Latin America! Patricia is not one to rest on her laurels as evidenced in her pursuit of education. For example, her Bachelor degree in Business, her Master's degree in Marketing and her diploma in Interior Design & her Broker's designation to trade in real estate in Ontario have been put to good use in assisting her client's listing and purchasing real estate. That passion and experience have made her well-known throughout the city of Ottawa, the Latin community and within the industry. So much so that she has been voted a finalist as “Ottawa’s Best Real Estate Agent” in Faces Magazine for three consecutive years (2020, 2021 & 2022)!

With her husband and business partner Peter, Patricia looks forward to assisting many more to achieve their real estate goals! At TRU Realty, we are thrilled to support professionals that exude the same qualities of integrity and honesty that we have for real estate! We welcome all to contact Patricia & Peter today!

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Welcome to TRU Realty - Peter Clarke

We are so excited to announce that Peter Clarke has joined TRU Realty!

Since 2005, Peter has been assisting his clients' purchase and sell residential and investment properties. As an "Ottawa boy" born and raised in the city, he knows the intricacies and history of the area. That experience along with his background in technology & his Broker designation has made him the first person people call when they have questions about real estate. Along with his wife and partner Patricia, they appreciated the personal attention and support that TRU Realty offered.

We welcome all of Peter's family, friends, and past and future clients to reach out to him for all their real estate needs!

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Welcome to TRU Realty - Isam Hashweh

We are really proud to announce that Isam Hashweh has joined TRU Realty!

Isam is a Construction Engineer with decades of experience and in addition, a real estate entrepreneur who is passionate about helping others to achieve their goals. His background in Construction and Engineering gives him a firm grasp on the negotiation process that provides him with a unique edge over the competition. Isam has a proven track record for helping buyers find not just a home, but the right home for their needs, and for showing sellers how to navigate the pricing and marketing strategies that will help them achieve their goals.

Isam chose TRU Realty for its dedication to supporting its agents through consistent and responsive administration and management. We welcome all of Isam's past clients to contact him for all their real estate needs!

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Ottawa Market Trends December 2022
Members of the Ottawa Real Estate Board (OREB) sold 601 residential properties in December through the Board’s Multiple Listing Service® (MLS®) System, compared with 857 in December 2021, a decrease of 30%. December’s sales included 466 in the residential-property class, down 22% from a year ago, and 135 in the condominium-property category, a decrease of 48% from December 2021. The five-year average for total unit sales in December is 775.

2022 in Review
Residential and condo resales in 2022 totaled 15,288, compared with 20,289 in 2021, decreasing 25%. Total sales volume in 2022 was approximately $10.5B compared to $13B in 2021.

“Even with the normal seasonal slowdown, December’s performance was in stark contrast to the very active resale market that opened 2022,” says OREB’s newly installed 2023 President. “As interest rates and inflation both climbed, buyers retreated to the sidelines and began taking a wait and see approach. However, while it’s quieter than the frantic pace we experienced in 2021, it is now a balanced market.”

By the Numbers – Average Prices:
  • The average sale price for a condominium-class property in December was $434,973, an increase of 9% from 2021.
  • The average sale price for a residential-class property was $655,839, decreasing 7% from a year ago.
  • With year-to-date average sale prices at $769,623 for residential units and $453,770 for condominiums, these values represent a 7% increase over 2021 for residential-class properties and an 8% increase for condominium-class properties.
“Although market activity tapered off in later 2022, there was an immense amount of activity in the spring at high prices. This will be an important caveat to consider as we begin comparing 2023 numbers to the previous year.”

By the Numbers – Inventory & New Listings:
  • • Months of Inventory for the residential-class properties has increased to 3.7 months from 0.9 months in December 2021.
  • Months of Inventory for condominium-class properties has increased to 3.9 months from 0.9 months in December 2021.
  • December’s new listings (699) were 17% higher than 2021 (600) and down 56% from November 2022 (1,598). The 5-year average for new listings in December is 662.
“The leading economic force behind Ottawa’s rapid appreciation in the past five years is chronic supply insufficiency. It intensified during the pandemic as prospective purchasers capitalized on incredibly low interest rates. Today’s higher rates are slowing down building projects, which exacerbates the low supply issue.”

2023 Lookahead
“Since Ottawa is made up of hyper-local markets, it is a difficult ecosystem to forecast. Plus, there are a multitude of factors influencing a changing economic environment these days that will dictate how much activity the resale market will see in 2023. REALTORS® have access to expert insights and industry resources that can help buyers and sellers navigate the complexities.”

REALTORS® also help with finding rentals and vetting potential tenants. OREB Members have assisted clients with renting 6,105 properties this past year compared to 4,813 in 2021.
Courtesy of the Ottawa Real Estate Board
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Welcome to TRU Realty - Tony Saikley

We are really pleased to announce that Tony Saikley has joined TRU Realty!

Tony brings a wealth of experience and knowledge in real estate - investing, owning, developing, leasing, managing, buying & selling! Experience that can be a huge advantage to his clients. In addition, Tony appreciates values such as honesty, integrity and hard work. Qualities that clients want and need in their real estate transactions. In turn, these are qualities that TRU Realty values and attracted Tony to our brokerage.

On behalf of Tony, we invite all of his past clients, family and friends, to contact him with any and all their real estate needs!

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Welcome to TRU Realty - Kevin Benjamin
We are really thrilled to announce that Kevin Benjamin has joined TRU Realty!

After earning a BA in Geography at Brock University, Kevin has applied his education, skills & experience to several industries and endeavours from management to business owner to sales! He has pursued that same passion and expertise in his career in real estate since 2020! Kevin recognizes at the heart of every real estate transaction are people. He endeavours to provide his clients with the honesty, sincerity and reliability that they deserve when buying or selling. Qualities that mark his professionalism. It is those same qualities that Kevin saw in TRU Realty that will support him and his clients.
 
We encourage all of Kevin's family, friends and past clients to contact him today!
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Ottawa Market Trends November 2022
Members of the Ottawa Real Estate Board (OREB) sold 846 residential properties in November through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,456 in November 2021, a decrease of 42%. November’s sales included 658 in the residential-property class, down 39% from a year ago, and 188 in the condominium-property category, a decrease of 50% from November 2021. The five-year average for total unit sales in November is 1,270.

“November’s sales were expectedly low given the typical slowdown this time of year but they also reflect today's economic conditions," says OREB's 2022 President. “This is not isolated to our local market. Globally, we’re still adjusting to the post-pandemic world and that affects demand, pricing, interest rates, cost of living, supply chain disruptions and more. As a result, those who can, are waiting and watching.”

By the Numbers – Average Prices:
  • The average sale price for a condominium-class property in November was $415,533, a decrease of 4% from 2021.
  • The average sale price for a residential-class property was $680,031, decreasing 5% from a year ago.
  • With year-to-date average sale prices at $774,422 for residential units and $454,436 for condominiums, these values represent an 8% increase over 2021 for both property classes.
“What’s concerning about the current market is the impact on first-time homebuyers. The marked decrease in condo sales, for example, signals that even entry-level properties are being affected. Fluctuating markets, paired with the stress test, are keeping first-time buyers on the sidelines in a tight rental market—with MLS® rentals increasing 27% this year over last.”

By the Numbers – Inventory & New Listings:
  • Months of Inventory for the residential-class properties has increased to 3.5 months from 0.9 months in 2021.
  • Months of Inventory for condominium-class properties has increased to 3.4 months from 1.1 months in 2021.
  • November’s new listings (1,598) were 12% higher than 2021 (1,429) and down 22% from October 2022 (2,046). The 5-year average for new listings in November is 1,398.
“With nearly four months of inventory and an average 30 days on market, Ottawa now has a balanced resale market, slightly tipping toward the buyers. Sellers are well-advised to work with a REALTOR® who has hyper-local knowledge about specific neighbourhoods, appropriate price points and ideal timing. Prices are adjusting but real estate is a long-term investment. It’s the same reason I tell buyers to marry the house and date the rate.”
Courtesy of the Ottawa Real Estate Board
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Welcome to TRU Realty - Roger Senecal

We are really honoured to welcome Roger Senecal to TRU Realty! Roger has a background in geography and business from the University of Alberta. As a result, Roger has a keen interest in land use, resource planning, environmental and resource management, renewable energy, sustainability, and energy-efficient housing. This has translated into Roger’s experience in advocacy, building and retrofitting homes for both himself and development and assisting his clients as well. In addition, Roger places great emphasis on professionalism through education and high ethical standards, qualities that attracted him to TRU Realty and its management. 

Roger lives in Hintonburg with his spouse and daughter and looks forward to assisting any and all in their real estate needs. Contact Roger today!

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Welcome to TRU Realty - Jim Riley

We are very pleased to announce that Jim Riley has joined TRU Realty!

Jim is an "Ottawa boy" through and through. Born and raised in the city, Jim knows the National Capital! That has really helped Jim to enjoy a long career in real estate! Since the 1990's, Jim has assisted both buyers and sellers get the most from their transactions! Jim's attention to detail, care and determination is admired by all his past clients, friends and colleagues. Those same qualities are what TRU Realty looks for in their agents and what attracted Jim to our brokerage.

When not selling, or renting property, Jim enjoys spending time with his family, playing hockey and cheering on the Senators! On behalf of Jim, we invite all to contact him with any and all their real estate needs!

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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.