Members of the Ottawa Real Estate Board sold 1,724 residential properties in July through the Board’s Multiple Listing Service® System, compared with 2,183 in July 2020, a decrease of 21 per cent. July’s sales included 1,312 in the residential-property class, down 20 per cent from a year ago, and 412 in the condominium-property category, a decrease of 24 per cent from July 2020. The five-year average for total unit sales in July is 1,775.

“July’s unit sales followed the traditional cycle of the spring and summer markets, which tend to peak around April or May and then slow down as Buyers and Sellers turn their attention to their vacations and other outdoor recreational activities,” states Ottawa Real Estate Board President. “This year’s figure is closer to 2019’s (1,838 sales) and just shy of the 5-year average, with the slight decline in transactions perhaps due to the combination of summer and the reopening of the economy last month. Certainly, the marked decrease from last year’s July sales is due to the spring 2020 lockdown, which had shifted the 2020 resale market’s peak to the summer and fall months,” she adds.

July’s average sale price for a condominium-class property was $419,545, an increase of 17 per cent from last year, while the average sale price for a residential-class property was $685,426, also an increase of 17 per cent from a year ago. With year-to-date average sale prices at $728,107 for residential and $422,339 for condominiums, these values represent a 30 per cent and 20 per cent increase over 2020, respectively.

“Following the same trend as sales, the month-to-month average prices decreased marginally by 4-6% compared to June; however, this minor dip is consistent to what typically happens during the summer months. Overall, average prices have increased considerably from 2020, and year-to-date values are holding steady. Still, Sellers will need to keep in mind that the multiple offer frenzy experienced previously is no longer the norm, and they may need to have more realistic expectations when positioning their homes and settling on a listing price with their REALTORS®.”

“We are seeing the housing stock increasing with residential inventory up 19% and condominium supply 23% higher than 2020. Although there were 700 fewer listings than in June, the number of properties that entered the market in July is over the five year average by approximately 114 units. Along with the price stabilizations, we hope this may indicate that Ottawa’s resale market is moving towards a more balanced state, which would be good for everyone.”

“Established in 1921, on July 9th, the Ottawa Real Estate Board commemorated 100 years of helping our neighbours, friends, and fellow residents buy and sell their homes, cottages and investment properties. Over the past century, our Board has advocated for affordable and attainable homes, as well as a range of housing options for seniors, first-time homebuyers and everyone in between. We pledge to continue this endeavour for our future clients in the years to come. On behalf of the Ottawa Real Estate Board and our 3,500 REALTOR® Members, I would like to extend my heartfelt gratitude to all of you who have put your trust in us to help you make your real estate dreams come true. We hope to continue to serve our communities for the next 100 years and beyond.”

OREB Members also assisted clients with renting 2,706 properties since the beginning of the year compared to 1,883 at this time last year

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We are very excited to share our new listing at 79 BALDCYPRESS WAY in Ottawa.
Welcome to 79 Baldcypress Cres, a wonderful 5 bedroom, 4 bath home on a premium 46x130 lot just steps from the Abbottsville Pond & Trail! This rare bungalow with a loft level and lower level finished guest suite is hard to find! The flexible floorplan and 5 bedrooms give families lots of layout options! Neutral finishes and upgraded 9-foot ceilings and hardwood throughout give this home a light and airy feel. The open concept main floor is perfect for family life and entertaining, and also conveniently contains the primary bedroom with ensuite, a second bedroom or office, another full bath and laundry. A further 2 good sized bedrooms, full bathroom and a loft round out the second floor. This model was built with the upgraded guest suite in the basement- a 5th bedroom and the fourth full bathroom! This property ticks all the boxes and then some! Make this your new address now! (id:2493)
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We are very excited to share our new listing at 79 BALDCYPRESS WAY in Ottawa.
Welcome to 79 Baldcypress Cres, a wonderful 5 bedroom, 4 bath home on a premium 46x130 lot just steps from the Abbottsville Pond & Trail! This rare bungalow with a loft level and lower level finished guest suite is hard to find! The flexible floorplan, and 5 bedrooms give families lots of layout options! Neutral finishes and upgraded 9-foot ceilings and hardwood throughout give this home a light and airy feel. The open concept main floor is perfect for family life and entertaining, and also conveniently contains the primary bedroom with ensuite, a second bedroom or office, another full bath and laundry. A further 2 good sized bedrooms, full bathroom and a loft round out the second floor. This model was built with the upgraded guest suite in the basement- a 5th bedroom and the fourth full bathroom! This property ticks all the boxes and then some! Make this your new address now! (id:2493)
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We are very excited to share our new listing at 541 CHURCHILL AVENUE N in Ottawa.
Family sized home with large In-Law/Nanny suite. Great Neighbourhood! Versatile potential. Short walk to great schools (like Nepean HS and Broadview PS). Steps to cafes, restaurants and stores of Westboro Village and close to the beach. On the Churchill Bike Path. Nicer interior than you might expect, hardwood throughout main and 2nd floor, ceramic in lower. Trees make a private yard. Property has been rented by great tenants since 2007, may be willing to stay. According to zoning, commercial use allowed, possible live/work. Currently a daycare. 2 bed lower suite has it's own entrance, great for Multi-Generational living, teenagers, college students, or a nanny and income potential. While it can benefit from some updates it is a lot of room for the price in Westboro. The upper roof (not visible) was done within the last 5 years. The co-owner is the listing agent. 24 hour notice for showings and no showings before 6 pm during the week, tenants may be present. (id:2493)
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We are very excited to share our new listing at 24 WAVERLEY STREET in Ottawa.
Welcome to a classic turn of the century townhome in Ottawa's Golden Triangle, just steps from the historic Rideau Canal, Parliament Hill and all the city has to offer! Home is completely updated - eat-in kitchen, baths, some exposed brick interior walls, fireplace, third-floor master suite with sauna and huge rooftop deck with view of the canal, rear deck off kitchen, oversized single garage with opener and inside access. Make this your new address now! (id:2493)
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We are very excited to announce that Vitor Avila has joined TRU Realty! Vitor has been licensed for over 2 decades and has a wealth of experience in residential, multifamily and rental real estate! Not only has Vitor assisted clients, but also invests and manages his own portfolio of real estate himself, and can offer real-world advice and personal experience! Vitor balances his busy real estate career with equally busy family life. He chose TRU Realty for its value, flexibility and its leadership and management. Vitor invites all his past clients, friends family and future clients to contact him for all their real estate needs!

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We are very excited to share our new listing at 665 BATHGATE DRIVE UNIT#301 in Ottawa.
This affordable spacious unit, located on the third floor, has a westerly park-like view! It's close proximity to schools, hospital, shopping, public transport, government offices makes very appealing... Ideal or suitable property for first time buyers, investors and live-in owners. It offers not only generous square footage but also comes with an upgraded primary bath and an open concept kitchen with a useful breakfast nook. Most of the furniture is negotiable and can be provided upon request. The superior condition of this unit allows the buyer(s) or tenant to bring only personal items and minimal furniture. Very reasonable condo fees and taxes compared to similar buildings. Interior pool, sauna, underground parking, party room, laundry room and much more for you to enjoy! (id:2493)
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We are very excited to announce that Italo Medugno has joined TRU Realty! Italo brings not only a long history of real estate experience and sales but also an innate sense of style and class! Italo takes pride in his experience as a teacher for many decades that really helped in his real estate career in guiding buyers and sellers through the hurdles of transactions. Italo's extensive travels around the world and international real estate experience is another unique quality that Italo's clients appreciate. Whether you speak English, French or Italian make sure you contact Italo for all your real estate needs!

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Members of the Ottawa Real Estate Board sold 2,131 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,038 in June 2020, an increase of 5 per cent. June’s sales included 1,647 in the residential-property class, up 2 per cent from a year ago, and 484 in the condominium-property category, an increase of 13 per cent from June 2020. The five-year average for total unit sales in June is 2,098.

“June’s resale market performed similar to a typical (pre-pandemic) June, with unit sales on par with the five-year average and a lower volume of activity compared to May, particularly in the last two weeks of the month. This is a normal tapering off as families turn their attention to the end of school events and enjoying more outdoor recreation. This year, it also coincided with some easing of pandemic restrictions,” states Ottawa Real Estate Board President. “It will be interesting to watch the market over the summer to see if this normalization of the real estate sales ebb and flow is indeed the case moving forward. Last year, summer resales skyrocketed due to pent-up demand when the first lockdown ended.”

“Year-to-date sales are tracking 48% higher than last year at this time with 11,446 properties changing hands and are 16-18% higher than 2018 and 2019. Much of this increase is due to the increased activity in the first five months of 2021 compared to previous years. We have also seen an instrumental increase in new listings this year, and inventory levels for both residential and condominiums are higher than we’ve seen since 2017. However, we are still at a one month supply of housing stock, so we aren’t out of the woods yet.”

June’s average sale price for a condominium-class property was $435,198, an increase of 21 per cent from last year, while the average sale price for a residential-class property was $725,970, an increase of 26 per cent from a year ago. With year-to-date average sale prices at $734,357 for residential and $422,734 for condominiums, these values represent a 33 per cent and 20 per cent increase over 2020, respectively.

“For the moment, there are signs that we’ve reached a levelling out, especially as it relates to average prices which, in recent months, have not experienced the drastic increases of earlier in 2021, nor are we seeing a drop.”

“Properties are not moving as quickly as they were. Inventory has picked up; there is less scarcity and more choices - consequently, less upward pressure on prices. Additionally, we are noticing fewer of the multiple offer frenzy situations. Of course, many properties do still have multiple offers, but our REALTORS® are noticing that there are less of them on offer day.”

“This start of a perhaps equilibrium in the market is good news for Buyers, while Sellers are going to have to adjust to this new normal and be more strategic in their positioning. Whichever side of the transaction you are on, you will bode well by listening and heeding the advice of a professional REALTOR® who has their pulse on the day-to-day variabilities Ottawa’s resale market is experiencing.”

OREB Members also assisted clients with renting 2,252 properties since the beginning of the year compared to 1,512 at this time last year. OREB cautions that the average sale price 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 calculation of the average sale price is based on the total dollar volume of all properties sold. Price will vary from neighbourhood to neighbourhood.

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We are very excited to share our new listing at 1025 GRENON AVENUE UNIT#321 in Ottawa.
Feel like you live on your very own resort in this fantastic 1 bedroom plus den unit in Fairfield Heights! You will love the extensive park-like grounds of this well maintained, clean and quiet condominium conveniently located near shopping, restaurants and public transportation. Great open concept layout, spacious and impeccably presented, this move-in ready condo has generous room sizes, a cosy solarium, in-suite laundry and plenty of storage. Extensive amenities will keep you and your family entertained: rooftop deck with water and downtown views, gym, hot tub, sauna, pool, tennis & squash courts, indoor golf, rooftop party room, library, movie theatre, music and arts & crafts rooms, storage lockers and more! Make this your new address now! (id:2493)
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