This month I think that two charts tell the 2017 story on their own, if you read between the lines. In an environment where more people are buying homes and condos than any time in the past 6 years, and simultaneously fewer people are offering their properties for sale, what would you expect to happen to prices? There are times …
Real estate sales in Ottawa for the past 5 or 6 years have been following a consistent pattern. Freehold (* see footnote) home sales were fairly flat, while prices of these single family homes would rise and fall seasonally, with slight increases year over year. Condo sales were sluggish and prices were bumpy overall, with apartment condos falling a few …
Warning: this article contains locker-room talk. It’s not as bad as Trump’s though. Last night in the locker room after my hockey game (Ligue Bonne Entente de Vanier!) a couple of the guys were asking me about house prices in Orleans this year. They’re under the impression that prices are down – they asked me if the market is sinking. …
People often ask me to confirm what they’ve heard about home sales in each of Ottawa’s major suburban areas comparatively. For the past couple of years, the prevailing belief is that Orleans is sinking (cue The Hip, sans New) while Barrhaven and/or Kanata is/are on the rise. The primary reasons given are the move of RCMP HQ from the Vanier …
With 2015 in the books, it’s time to have a look at which neighbourhoods saw the most home and condo sales activity. This article looks at where average sale prices rose the most – or fell the most – compared with 2014. Every month the Ottawa real estate board issues a news release with average sale price information and they …
A couple of months ago I decided to carve up the City of Ottawa into a few big chunks to help understand house prices and condo prices in different parts of town. Of course, where you draw the lines is somewhat subjective and could be debated all day long, but I think for the purpose of getting a general idea …
You often read about average home prices in Ottawa or Canada as a whole. You’ll read, for example, that house prices on average were 1.6% higher in Ottawa in 2014 than in 2013. For the past 5 or 6 years there have been regular reports of average home prices in Canada escalating to the point that we have the highest …
Overall, 2014 looked a lot like 2013 for real estate in Ottawa, with a few differences. With an entire year of data to work with, I thought we’d take a look at last year in Ottawa real estate from three different angles: looking at the graphs of 9 key statistics that I put together every month, using the Ottawa Real …
I was just reading CMHC’s latest housing market statistics report, covering new housing starts across Canada, broken down by Province and municipality, through April 2013. Overall the number of starts is down slightly from 2012, on pace with 2011. But there was one statistical category that really stood out to me: in the “unabsorbed single and semi-detached” category for Ottawa, …
And so ends 2012, with the overall picture looking about the same as 2011 on the surface (similar number of residential properties sold and average selling price settling ever so slightly above 2011) but with more questionable footings lurking underneath… perhaps. Like most soothsaying ventures, you really don’t know what you’re talking about if you’re looking ahead but you can …