Introduction:

TRU Realty, one of Ottawa's leading real estate brokerages, is excited to announce the addition of Ameer Abdulkader to our team. With a wealth of experience and a passion for client success, Ameer has joined us as a Realtor, bringing exceptional expertise to our brokerage. We are confident that his extensive background and dedication will greatly benefit our clients and enhance our services.

Ameer Abdulkader: A Professional with a Difference

Ameer Abdulkader's decision to become a Realtor showcases his commitment to providing outstanding service. With years of experience in the high-tech industry, Ameer offers a unique perspective and diverse skill set to TRU Realty. His in-depth knowledge of the market, local regulations, and negotiation strategies enables him to handle any challenge effectively.

Expertise and Dedication to Client Satisfaction

Ameer's keen eye for detail and ability to understand each client's unique needs set him apart. Ameer is dedicated to ensuring client satisfaction and goes above and beyond to deliver a seamless and stress-free experience. His exceptional communication skills and genuine empathy foster strong relationships with clients, guiding them through their real estate journey.

Why TRU Realty?

Ameer's decision to join TRU Realty speaks volumes about our brokerage's reputation. Known for our commitment to excellence, transparency, and innovation, we align perfectly with Ameer's values. By joining our team, Ameer gains access to a vast network of industry professionals, cutting-edge technology, and comprehensive resources, enhancing his ability to provide unparalleled service to clients.

Conclusion:

TRU Realty warmly welcomes Ameer Abdulkader as our newest Realtor, confident in his ability to bring exceptional value to our clients. With his comprehensive knowledge, dedication, and client-centric approach, Ameer is an invaluable addition to our team. Whether you're buying, selling, or investing in real estate, Ameer and TRU Realty are here to guide you towards success. Contact us today to experience the difference Ameer Abdulkader and our team can make in your real estate journey.

Members of the Ottawa Real Estate Board (OREB) sold 1,658 residential properties in June through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,493 in June 2022, an increase of 11%. June’s sales included 1,234 in the freehold-property class, up 10% from a year ago, and 424 in the condominium-property category, a 16% increase from June 2022. The five-year average for total unit sales in June is 1,881.

“Although June’s transactions surpassed last year’s, the number of sales, average prices, and new listings declined on a week-to-week basis over the course of the month. Compounded by the typical summer decline in activity, the Bank of Canada’s interest rate adjustment at the beginning of the month may have also flattened the curve,” says Ottawa Real Estate Board President.

By the Numbers – Average Prices*:

• The average sale price for a freehold-class property in June was $746,445, a decrease of 4% from 2022, but still on par with May 2023 prices.

• The average sale price for a condominium-class property was $448,380, an increase of 2% from a year ago and up 1% over May 2023 prices.

• With year-to-date average sale prices at $731,847 for freeholds and $432,885 for condos, these values represent a 10% decrease over 2022 for freehold-class properties and a 7% decrease for condominium-class properties.

“Supply is trending in the right direction. The increase in inventory is encouraging and indicates sellers have confidence in the market. A growing resale housing stock will result in more selection for buyers and more sales.”

By the Numbers – Inventory & New Listings:

• June’s new listings (2,758) were 14% lower than June 2022 (3,212) and down 2% from May 2023 (2,822). The 5-year average for new listings in June is 2,802.

• Months of Inventory for the freehold-class properties has increased to 2.1 months from 1.9 months in June 2022 and 1.5 months in May 2023.

• Months of Inventory for condominium-class properties has decreased to 1.4 months from 1.6 months in June 2022, although up from 1.3 months in May 2023.

• Days on market (DOM) for freeholds stayed on par with last month at 23 days and increased to 27 days for condos compared to last month (26 days).

“We are looking forward to a strong second half of 2023 in terms of sales volume and prices compared to last year. Whichever side of the transaction you are on, the advice of a professional REALTOR® who has their pulse on the week-to-week variabilities in Ottawa’s resale market is priceless.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 3,336 properties compared to 2,919 last year at this time, an increase of 14%.

* Courtesy of the Ottawa Real Estate Board. 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. 

Members of the Ottawa Real Estate Board (OREB) sold 1,939 residential properties in May through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,830 in May 2022, an increase of 6%. May’s sales included 1,477 in the freehold-property class, up 8% from a year ago, and 462 in the condominium-property category, a 1% increase from May 2022. The five-year average for total unit sales in May is 1,961.

“Typically the highest-selling month, May’s transactions did not disappoint,” says the Ottawa Real Estate Board President. “This month we saw the first year-over-year unit sales volume increase since February 2022. It is a promising year for sellers barring any interest rate adjustments, as we saw a correlated drop in sales every time there was an interest rate hike in 2022.”

“However, with only five to six weeks of inventory, we are in a strong seller’s market. With the pent-up high demand and sales volume increasing, we are likely to see upward pressure on prices as demand continues to outstrip supply.”

Members of the Ottawa Real Estate Board (OREB) sold 1,488 residential properties in April through the Board’s Multiple Listing Service® (MLS®) System, compared with 1,876 in April 2022, a decrease of 21%. April’s sales included 1,156 in the freehold-property class, down 18% from a year ago, and 332 in the condominium-property category, a decrease of 29% from April 2022. The five-year average for total unit sales in April is 1,739.

“Ottawa’s resale market is on a steady upward trajectory, narrowing the comparison gap to peak pandemic activity in 2022. However, with new listings not keeping pace, the available housing stock is declining, and with less than two months of inventory — we’re back into seller’s market territory,” says the Ottawa Real Estate Board President.

By the Numbers – Average Prices:

• Average prices have increased by 13.9% in four months since the market low in December 2022.
• The average sale price for a freehold-class property in April was $747,123, a decrease of 10% from 2022. However, it marks a 5% increase over March 2023.
• The average sale price for a condominium-class property was $435,875, decreasing 8% from a year ago, but still a 4% gain over March 2023.
• With year-to-date average sale prices at $718,633 for freeholds and $421,722 for condos, these values represent a 13% decrease over 2022 for freehold-class properties and a 10% decrease for condominium-class properties.

TRU Realty is proud to announce that Shawn Tobin has joined our brokerage as a seasoned Realtor with many years of experience in the real estate industry. Shawn's addition to our team is a testament to our continued commitment to providing top-notch services to our clients.

Shawn brings a wealth of knowledge and expertise to our brokerage, having worked in various capacities within the industry. His passion for the real estate business is evident in his dedication to his clients, and he has built a reputation for delivering exceptional customer service and building long-lasting relationships.

We at TRU Realty are thrilled to have Shawn as part of our team. His enthusiasm for the industry and his commitment to excellence align perfectly with our core values. At TRU Realty, we place a high value on professionalism, truth, and honesty, and Shawn shares these values wholeheartedly.

In addition to his impressive track record in the industry, Shawn was drawn to TRU Realty for our management and team. He appreciates our commitment to building a supportive and collaborative work environment that fosters growth and success for our Realtors. We are confident that Shawn will make valuable contributions to our team and help us continue to provide the highest level of service to our clients.

If you are looking to buy, sell or invest in real estate, we encourage you to reach out to Shawn Tobin or any of our experienced Realtors at TRU Realty. We are dedicated to helping you achieve your real estate goals with professionalism, truth, and honesty at the forefront of everything we do. Welcome to the team, Shawn!

We are excited to announce that Lee Swigger has joined TRU Realty as our newest agent. Lee comes to us after a successful career in high tech and multiple years of experience as a Realtor. He moved from Toronto to Ottawa to be closer to his family and has fallen in love with the city. Lee is eager to assist others in buying, selling or leasing property here.

Lee brings a wealth of knowledge and experience to the real estate industry. He has a strong background in negotiation, communication, and customer service, which are all essential skills for a successful real estate agent. Lee is also highly organized and detail-oriented, ensuring that all transactions are completed smoothly and efficiently.

One of the things that drew Lee to TRU Realty is our commitment to integrity, honesty, and professionalism. These are values that Lee shares, and he treats his clients with the same level of respect and transparency. Lee understands that buying or selling a home is a significant life decision, and he takes pride in guiding his clients through the process with care and attention to detail.

Lee is passionate about the Ottawa real estate market and is excited to help others discover all that the city has to offer. Whether you are looking to buy, sell, or lease a property, Lee has the expertise and experience to help you achieve your goals.

If you are interested in working with Lee, or would like to learn more about TRU Realty's services, please don't hesitate to get in touch. We look forward to helping you with all of your real estate needs.

Members of the Ottawa Real Estate Board (OREB) sold 1,194 residential properties in March through the Board’s Multiple Listing Service® (MLS®) System, compared with 2,003 in March 2022, a decrease of 40%. March’s sales included 893 in the freehold-property class, down 40% from a year ago, and 301 in the condominium-property category, a decrease of 42% from March 2022. March sales transactions increased 40% over February. The five-year average for total unit sales in March is 1,698.

“The recent rise in transactions is a sign of typical spring activity, even if we’re behind the pandemic peaks of 2022. As spring unfolds, so too will a clearer picture of Ottawa’s balanced market state,” says the Ottawa Real Estate Board President.

By the Numbers – Average Prices:

• The average sale price for a freehold-class property in March was $710,070, a decrease of 17% from 2022. However, it marks a 0.2% increase over February 2023. Average freehold prices have climbed approximately 8% during Q1 2023 over December 2022’s market low.
• The average sale price for a condominium-class property was $418,670, decreasing 13% from a year ago, but still a 2% gain over February 2023.
• With year-to-date average sale prices at $701,837 for freeholds and $414,698 for condos, these values represent a 16% decrease over 2022 for freehold-class properties and an 11% decrease for condominium-class properties.

“As evidenced by the recent climb in freehold prices, Ottawa’s resale market is stabilizing along with the interest rate. Condos remain steady due to their lower price point, there’s more affordability based on the current interest rate structure. Prices are certainly headed in the right direction—if you are looking forward.”

By the Numbers – Inventory & New Listings:

• Months of Inventory for the freehold-class properties has increased to 2.3 months from 0.6 months in March 2022.
• Months of Inventory for condominium-class properties has increased to 2.8 months from 0.6 months in March 2022.
• March’s new listings (2,089) were 21% lower than March 2022 (2,632) and up 53% from February 2023 (1,366). The 5-year average for new listings in March is 2,474.
• Days on market (DOM) for freeholds decreased from 37 to 34 days and 43 to 39 days for condos compared to last month.

“Well-priced and well-prepared homes are selling. REALTORS® have up-to-the-minute statistics to ensure sellers are positioning themselves at the current market value based on recent sales and hyper-local market comparisons. Buyers can benefit from the same data along with their negotiation expertise to guarantee they are receiving the best value for their dollar.”

REALTORS® also help with finding rentals and vetting potential tenants. Since the beginning of the year, OREB Members have assisted clients with renting 1,599 properties compared to 1,291 last year at this time, an increase of 24%.

Courtesy of the Ottawa Real Estate Board