December 2018 Market Snap Shot 

Call or Text 613-408-6961  Office 613 270 8200jordan@goodfellowrealestate.com Market Snap Shot For December 2018 Article Posted by the Ottawa Real estate Board  Members of the Ottawa Real Estate Board sold 663 residential properties in December through the Board’s Multiple Listing Service® System, compared with 765 in December 2017, a decrease of 13.3 per cent. December’s sales included 471 in the residential property class, a drop of 15.7 per cent from a year ago, and 192 in the condominium property class, a decrease of 6.8 per cent from December 2017. Year to date activity increased by 2.4 per cent from 2017. The total number of residential and condo units sold throughout all of 2018 was 17,476, compared with 17,065 in 2017. Residential property class sales decreased slightly to 13,418 from 13,478 in 2017 and condominium property class sales were up 13.1 per cent with 4,058 units sold in 2018 versus 3,587 in the previous year.  “For the last decade, we have experienced steady growth in our real estate market from volume to prices; however, the past two years have jumped significantly in activity with a 12.6% increase in unit sales from 2016. Ottawa, and its surrounding area, has excellent employment numbers and has proven to be one of the most affordable larger cities in the country,” proclaims Ralph Shaw, Ottawa Real Estate Board’s 2018 President.  “What has come to a head in 2018 is the overall shortage of inventory which is extreme in certain pockets of the city. While this has caused unit sales to slide in the residential market, it has fueled the condominium market which has recovered and carried us through much of 2018. We have been predicting this will bode well for new construction in delayed high-rise projects,” he adds.“Another significant factor affecting the market in 2018, and first-time homebuyers in particular, is the mortgage stress test – an attempt by the federal government to cool two major markets in the country. It has also unfortunately made move-up buyers less likely to take that step and free up entry-level options, which is an important part of the resale market,” Shaw points out.The average sale price of a residential-class property sold in December in the Ottawa area was $453,011, an increase of 4.7 per cent over December 2017. The average sale price for a condominium-class property was $278,295, an increase of 9 per cent from this month last year. Year-end figures show an average sale price of $446,661 for residential-class properties in 2018, a 5.1 per cent increase from 2017 and $278,316 for condominium properties, up 3.2 per cent from last year.*“In 2019, we expect the economic fundamentals of supply and demand to be at play with upward pressure on prices due to limited supply and increasing demand. Buyers do have affordable options in outlying communities if they are willing to commute — or they will simply have to pay more provided they can qualify. New builds and purpose-built rental housing could help ease some of the pressure, particularly if builders are able to provide a variety of quality options allowing for more movement in the market,” Shaw concludes.The $300,000 to $449,999 range continues to represent the most active price point in the residential market, accounting for nearly 45 per cent of December’s sales while almost one in four sales were in the $500,000 to $750,000 price range. Between $175,000 to $274,999 remained the most prevalent price point in the condominium market, accounting for 55.7 per cent of the units sold. Year-end figures echoed these dominating price points holding 45.6 per cent of the residential market and 49.8 of the condo market respectively.In addition to residential and condominium sales, OREB Members assisted clients with renting 2,713 properties since the beginning of the year down from 2,977 from this time last year.* The Board 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 and conditions will vary from neighbourhood to neighbourhood.  Thinking about buying or Selling? Want to talk about the next steps or have questions about Ottawa Real Estate ? Let’s meet for a Coffee and Chat . Book it here!Want access to properties BEFORE they hit the market? Yes PleaseLet's meet for a coffee on meBook It!Find The Perfect Property See my Featured ListingsContact MeReady for a great home buying experience? Just fill out the form below, and we’ll get right back to you. If you don’t want to fill out a form click here to send us an email instead.Read Our Newest ArticlesSign Up For My Newsletter! Want more? Our pleasure! Subscribe today to get our latest listings, real estate advice, and current lifestyle favorites straight to your inbox.Jordan Goodfellow | Licensed REALTOR Serving Kanata, Carp, Stitsville, Carleton Place and Almonte e: jordan@goodfellowrealestate.comcall or text me at 613-408-6961Have Questions? Contact Me If you don't want to fill out a form your can email me direct jordan@goodfellowrealestate.com or text me at 613-408-6961The trade marks displayed on this site, including CREA®, MLS®, Multiple Listing Service®, and the associated logos and design marks are owned by the Canadian Real Estate Association. REALTOR® is a trade mark of REALTOR® Canada Inc., a corporation owned by Canadian Real Estate Association and the National Association of REALTORS®. Other trade marks may be owned by real estate boards and other third parties. Nothing contained on this site gives any user the right or license to use any trade mark displayed on this site without the express permission of the owner.  powered by WEBKITS. Read Our Newest Articles

Getting Ready to Sell Your Home in Winter: What You Need to Know 

Call or Text 613-408-6961  Office 613 270 8200jordan@goodfellowrealestate.com Getting Ready To Sell Your Home in the WinterSelling your home in the winter real estate market may seem undesirable to some, but it has an upside.  Let’s break down some of the advantages that actually make the cold dreary season a potential win for sellers.Kanata, Carleton Place and Almonte are all Seller’s Markets right now Regardless of the weather, listings that are on the market are getting the attention of buyers, there is just not enough inventory to keep up with the demand.  Current active inventory is less than half of 2015-16 [October 2018]. Compared to last year, condo inventory is down 34.5% while residential inventory is 17.5% lower than October 2017.   One of the most affordable cities in Canada, Ottawa is still attracting buyers even as the cold rolls in. Residential average prices up approximately 6% year over year, yet under $450,000.  If now is a good time for you to sell, it’s a great time to take advantage of Ottawa’s fast-paced real estate market.Buyers are more serious then ever!Most people don’t find joy in dawning winter-wear and bracing cold icy roads and weather just to check out the real estate market on a lazy Sunday. Additionally, with fewer properties listed for sale, there is less competition, making it easy to stand out in the neighbourhood. Keeping up with yard work and weeding gardens doesn’t pose a problem, and stringing some warm lights around the outside of the house gives some extra curb appeal that you don’t see in the summer monthsTo ensure you take full advantage of the season and get the best offers, here are a few things to take into consideration to make your home really stand out in winter:Accessibility matters.During the winter months, sellers are posed with demonstrating accessibility to the home and all of its amenities, even if that means shoveling through a few feet of snow. By clearing pathways to the front door, mailbox, garage, and road, you demonstrate that the home is well cared for, both inside and out, and additionally display the ease of access to the property in removing visible physical barriers from the eye of the potential buyers. Additionally, marking property boundaries gives a clear idea of yard size when snow is covering up natural markings. Clean and Bright. Winter can be beautiful! The white snow blanketing the ground makes everything look clean and bright. Mirroring the fresh outdoor atmosphere, inside the home, can also make a world of difference. Open the curtains and let the whiteness of the snow and the sun shining add natural light and beauty to your space. Clean your surfaces and windows well to add an extra sparkle. Additionally, no one likes dirty snow melting off boots leaving salt stains all over clean front door mats; keeping the clutter of big winter boots and gear tucked away and providing weather appropriate mats for home buyers to place boots on will add to the overall freshness of the in-home atmosphere. Keep the home warmWhile many of us like to adjust the temperature of our homes to best suit our daily needs, frugality is not at your advantage when selling in a winter market. Buyers are coming into the home from the cold; in keeping the thermostat up to make sure home viewers are warm and comfortable invites them to stay longer, and lets them see the home as a welcoming, cozy environment. A smart thermostat can help by letting you bump up the temperature remotely before a showing with a click of a button on your smartphone (another way to appeal to buyers!).  Another tip: warmth is not just achieved through a thermostat temperature. Decorating your home with blankets, throws, accent pillows, or baking nice spice cookies to serve gives a warming aura that is sure to not go unnoticed. Curb AppealOne advantage the winter has over the summer is the chance to decorate your home with lights and greenery. Incorporating warm seasonal lights on the exterior of your home, and adding wreaths and garland to doors and window frames adds for an extra pop of seasonal beauty; it is sure to catch the eye of passers-by who may be interested in homes in the neighbourhood, and gives buyers an idea of how beautiful the inside of the house will likely be if the outside is so well cared for and decorated.While keeping away the winter blues may seem difficult in January once the holidays are over, it is important to not let that reflect on the interior or exterior of your home when listed on the winter real estate market. Keeping a sense of freshness, cleanliness, and warmth is key to showing viewers that the home is well cared for even when weather may restrain us. The advantages in this time frame are at an abundance, so it is important to play into that and market your house the best possible way.In following these steps, showing the appeal to the home, and selling outside of the peak season can be just as attainable and less tiring than trying to sell selling in a market with much more competition. If you have any questions about when the best time is for you to sell, reach out to us, or your real estate agent for advice and sell your home with comfort and peace of mind.  Home is who we are! Want access to properties BEFORE they hit the market? Yes PleaseLet's meet for a coffee on meBook It!Find The Perfect Property See my Featured ListingsContact MeReady for a great home buying experience? Just fill out the form below, and we’ll get right back to you. If you don’t want to fill out a form click here to send us an email instead.Read Our Newest ArticlesSign Up For My Newsletter! Want more? Our pleasure! Subscribe today to get our latest listings, real estate advice, and current lifestyle favorites straight to your inbox.Jordan Goodfellow | Licensed REALTOR Serving Kanata, Carp, Stitsville, Carleton Place and Almonte e: jordan@goodfellowrealestate.comcall or text me at 613-408-6961Have Questions? Contact Me If you don't want to fill out a form