DEDICATED TO EXCELLENCE

Welcome to KELLER WILLIAMS OTTAWA REALTY


 

Welcome to KELLER WILLIAMS OTTAWA REALTY, your source for Ottawa real estate.

In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in Ottawa with my New Listings Notification

 If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me, as I'd be happy to assist you with this important transaction.

In addition, if you have any general questions about buying or selling real estate in OTTAWA and surrounding areas, please contact me as I'm more than willing to help.

Please browse my website for listings, reports and important local real estate information.

Busy spring season arrives amidst March snow banks

Members of the Ottawa Real Estate Board sold 1,208 residential properties in March through the Board's Multiple Listing Service® system, compared with 1,184 in March 2014, an increase of two per cent. The five-year average for March sales is 1,236.

"Sales increased month over month, with 356 more properties sold in March over February, a 41.8 per cent increase," says David Oikle, President of the Ottawa Real Estate Board. "Indications of a fast approaching spring market were noted in February, and these numbers are proof that Ottawa is indeed experiencing an upswing in sales."

March's sales included 228 in the condominium property class, and 980 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.

"The average cumulative days on market came in at 83 for the month of March, lower than the average of 99 days in February and 119 days in January indicating that properties are starting to move faster as we enter the second quarter of 2015," explains Oikle. "Year-to-date sales for the first quarter of 2015 are 1.8 per cent higher than the first quarter of 2014. Average sales price has also increased, ever so slightly, by 0.8 per cent. So far, the 2015 resale market in Ottawa remains steady and strong."

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $361,572, an increase of 0.7 per cent over March 2014. The average sale price for a condominium-class property was $251,666, no change over March 2014. The average sale price of a residential-class property was $387,141, no change over March 2014. While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of all properties sold.

"The hottest segments of our market in March were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 price range," says Oikle. "Residential two-storey homes continue to be the highest sold property class, followed by bungalows and one-level condos. In addition to residential and condominium sales, OREB members assisted clients with renting 593 properties since the beginning of the year."
 


FEBRUARY 2015 MARKET UPDATE


Resale buyers brave the February freeze

Members of the Ottawa Real Estate Board sold 853 residential properties in February through the Board's Multiple Listing Service® system, compared with 868 in February 2014, a decrease of 1.7 per cent. The five-year average for February sales is 914.

"Even though we had one of the coldest months on record, resales for the month of February are only slightly down from last year," says President of the Ottawa Real Estate Board, David Oikle. "Looking at residential properties alone, 13 more properties were sold this February over last February - a 1.9 per cent increase; while the condo market on the other hand, has been a little slower to gain momentum. That being said, both residential and condo sales are up a total of 226 combined units since January and there are a total of 6,519 residential listings going into March - both telling signs that the spring market is fast approaching."

February's sales included 168 in the condominium property class, and 685 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.

The average sale price of residential properties, including condominiums, sold in February in the Ottawa area was $358,206, an increase of 1.3 per cent over February 2014. The average sale price for a condominium-class property was $267,880, an increase of 3.8 per cent over February 2014. The average sale price of a residential-class property was $380,358, a decrease of 0.3 per cent over February 2014. While average sale price information can be useful in establishing trends over time, it should not be used as an indicator that specific properties have increased or decreased in value, because the average sale price is calculated based on the total dollar volume of all properties sold.

"The hottest segments of our market in February were sales between $300,000 to $400,000, followed by the $200,000 to $300,000 range and $400,000 to $500,000 range," says Oikle. "These price ranges continue to have the highest concentration of properties sold, while residential two-storey homes and bungalows continue to have the highest concentration of buyers. In addition to residential and condominium sales, OREB members assisted clients with renting 366 properties since the beginning of the year."