December’s statistics reflect the same story we’ve seen all year – historically low supply yet higher unit sales than in previous years. Days on market continued to decline, especially in certain pockets of the city, as properties that came on the market were snapped up by prepared buyers

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Housing starts in Ontario have increased to 205,925 units according to the latest report published by CMHC (Canadian Mortgage and Housing Corporation).

Economist had expected 200,000 units start in October but we saw an additional 5,925 units. The largest increase in housing starts was in the urban core which climbed 8.6% in October 2018 compared to the same period last year.

Single family urban starts have fallen as land increases in price builders are choosing to built condominiums, apartmen...

The average price of a residential home in Ottawa has only increased slightly in October 2018 when compared to last year during the same period.

A total of 1,059 transacted on the Ottawa MLS by Ottawa's Realtors®. The average property prices have now reached an average of $449,000 up 5.7% over October 2017.

Average property prices for the condominium-class of properties has now reached an average of $271,350 up only 0.6% over last October.

Inventory of homes in Ottawa is down. At the end of O...

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...

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...

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.

 

You are in the market for a new home or condo this Spring? The latest Canadian Real Estate Association report is in and newly listed homes rose 4.8% in February 2017 led by the Greater Toronto Area and nearby areas.

The GTA is one of the few cities in which newly listed homes rose after a sharp drop in January 2017. More than one third of all housing markets saw a decline in new listings from the previous month.

Across the country in the Greater Vancouver region new listings fell nearby 25% fr...