The Ottawa housing market is hot! Spring has arrived in Ottawa and agents are busy selling properties.  Average property prices in May 2017 for Ottawa have risen to $436,625 a jump of 7.4 percent compared to May 2016.

May 2017 also had the highest recorded number of sales in a single month. May sales included a total of 444 condominium class properties and 1,856 in the residential class.

Sales volume continues to trend towards a seller's market in many neighbourhoods of the City. 

High-end pr...

With the Toronto real estate market at a all time record high many home owners and investors are choosing to cash out. As reported last week a family from Toronto decided to use the red hot GTA real estate market to get more than 1 million dollars for a home they had purchased for just over $300,000 just 7 years ago.

With strong demand for housing in the Greater Toronto Area many families are choosing to do the exact same. Their end goal is to either move into a smaller house that will cost the...

Ottawa's real estate market is heating up. Average home prices for the month of April 2017 rose by 7.9% over April 2016. The current average home price for the City of Ottawa is now $435,833 while condo class properties cost an average of $268,553 which translates into a increase of 2.9% for the condo class.

Ottawa Realtors sold 1,795 properties in April on the MLS. This is a 4.9% increase over the same period last year when they had sold 1,711. The 5 year average for the month of April is 1,61...

It's no news that Ontario home prices are soaring at rapid speed. With homes in Toronto averaging 1.2 million the Ontario Premier will be introducing a 15% non-resident tax that is hoping to slow down the heated real estate market. Foreign investors make up about 5% of the current buyers. This new 15% tax on foreign investors is modelled on BC's similar tax in Vancouver. Wynne's new tax would affect sales around the Greater Toronto Area and not areas surrounding the Nation's Capital.

The real e...

An increase number of landlords want to prohibit their tenants from growing marijuana plants in multi-family, condominiums and other rental units. Under the proposed Cannabis Act which was introduced in the House of Commons only last week people over the age of 18 would be able to grow up to 4 plants at home provided they are not taller than 100 centimetres.

The Canadian Federation of Apartments Associations believes people should only be able to grow marijuana in single-family homes that they...

After many slow years for condominium starts in Ottawa and across the country new data from the Canadian Mortgage and Housing Corporation (CMHC) shows a increase in purpose built apartment buildings as well as condominiums starts.

Housing starts on the other hand soared 18% to 253,720 from 214,253 in February. Multi-unit starts are up by 30% in March of 2017.

 

Ottawa's real estate market is picking up speed. In March of 2017 Ottawa saw a total of 1,485 residential properties sell on the MLS® a 28% increase over March of 2017. Slightly higher than the current 5 year average of 1,240.

The average cumulative days on market now sits at 82 days. Ottawa's average price of a residential class property is $415,467 while the condominium-class average for the City sits at $272,597.

If you are in the market to sell or buy a home in Ottawa this Spring call Roch...