Average Sale Price The average selling price of all single family residential properties in Ottawa through 2025 ranged from a low of $664,042 in December to a high of $745,423 in May. Taking the average selling price each individual month, and comparing to the same month the previous year (2024), the average monthly annual increase in average sale price was +2.5%. …
I’m writing this article as part of a bigger picture market update for the August 2024 edition of my newsletter, Ottawa Real Estate Monthly. Housing affordability is the topic of the times in Canada. Many people point to increasing demand due to population growth primarily driven by high levels of temporary and permanent newcomers to Canada, and the perception there …
Is there a condo crisis in Ottawa? The condominium apartment markets in Toronto and Vancouver have been playgrounds for foreign investment, domestic speculation, and retirement savings plan components for many years. Post-pandemic in particular, stories of decline have been swelling up and some say there is now an urban condominium crisis in Canada that is intertwined with pervasive concerns over …
“Cash for keys” agreements between Ontario tenants and landlords have been receiving a lot of media attention lately. Here’s a link to a CBC article that includes video clips from a segment that ran on The National a few weeks ago, as an example: CBC on Cash for Keys. CBC’s coverage includes everything you need to understand these agreements, why …
1. They Don’t Understand Leverage Some of your friends aren’t investment-minded. They may be risk-averse or they espouse an experience-focused lifestyle and spend all their money “enjoying life”. But you also have friends who are focused on building wealth who insist that real estate is not a good investment. Some of these folks take risks that promise huge returns, like …
Should blind bidding be banned? The Liberal Party of Canada seems to think so. Justin Trudeau created quite a stir when he announced the party’s plan to ban “blind bidding” in real estate transactions at a campaign stop recently. When I heard the news, I thought it likely an exaggeration or other form of “fake news” because real estate transaction …
With escalating property prices across Canada (and the USA!), rental income often won’t generate positive cash flow these days. Some “gurus” suggest buying REITs as an alternative to purchasing income properties directly. Are REITs a valid option in the real estate investing game? I explore that question in this video.
In case you haven’t heard, there’s a housing inventory crisis across Canada and the United States (I haven’t looked beyond – maybe it’s another pandemic?!) In this video I look at the possible reasons not enough people are selling, and whether there are any signs of hope for house hunters. Video Outline (1:00) Stats: Number of Q1 Sales vs New …
House prices in Ottawa in early 2021 are going crazy! Last video we talked about the main reason. Let’s look at some other theories (and conspiracies!) about house prices. I mention a couple of media articles in this video. Here are links to those articles: Global News on Foreign Buyers The RBC Study that Global News References CTV July 2020 …
“No conveyance of offers prior to <time of day> on <specific date>.” …or… “Offers presented at <time of day> on <specific date>; however, the seller reserves the right to review and may accept pre-emptive offers.” If you followed or participated in the real estate market in Ottawa in 2020 you will have noticed one of these two phrases appearing in …
