What’s up with Ottawa house prices in early 2021? In this video I talk about the three main reasons prices are spiking even above the already meteoric increases from 2020. The number 1 reason turns out to be pretty simply to understand, but maybe not so easy to figure out why it’s happening. Theories and conspiracies and downright guesses about …
The February edition of my newsletter (Ottawa Real Estate Monthly) features Ottawa House Prices by Neighbourhood – it’s a tradition I started a few years ago. I take all of the Ottawa Real Estate Board’s neighbourhood sales and price statistics and rank them. In previous years, I shared the top and bottom 20 neighbourhoods based on percentage change in number …
“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 …
Misunderstanding cap rate, short for capitalization rate, is a favourite pastime of many realtors and novice investors. Too often I witness a lack of understanding of investment analysis within the real estate agent community. My concern is that novice investors may be making purchase decisions with inaccurate expectations for return on their investments. This article examines the relationship between real …
A CTV News piece about the Hottest Ottawa Neighbourhoods and the Ottawa real estate market in July 2020 came to my attention this week. A local Realtor provided data and insights into prevailing conditions that continue to favour sellers. Here’s a link to the piece: CTV News Article & Video Reading through the article I could not help but cringe …
As people got used to wearing masks and keeping their distance, and with businesses and services slowly opening up, buyers and sellers stormed back into the real estate market in July. It was one hot July. I represented five sellers. Every one of them received multiple offers and sold way over asking price. Here are the amounts over asking: $40,000 …
I debated the headline for this article. The downturn in sales resulting from people’s wise decision to heed Government direction to stay at home as much as possible resulted in unprecedented decline in home sales in April. Just looking at the graphs, “slams” is an accurate description of the impact. I hesitated to use this description not because it doesn’t …
I’m interested in tracking and reporting the impact of the pandemic response on market activity. The Ottawa Real Estate Board only provides monthly reports and tends to gloss over anything negative and spins things up. Note: You might be interested in my first article on the impact of the COVID-19 pandemic on Ottawa real estate: COVID-19 Market Impact. Any lasting …
Note: After reading this article, check out updated data and more sales and price impact analysis in this update: COVID-19 Market Update “Our results show that the Ottawa real estate market seems to have withstood the pressure of a worldwide economic event in March…” Not my words. Those are the words of the President of the Ottawa Real Estate Board, …
Stay tuned for a special report on the impact of the COVID-19 pandemic on the real estate market in Ottawa. I’m tracking new listings, conditional and firm sales on a daily basis because monthly statistics do not provide an adequate picture of this rapidly changing market. I’m posting my usual monthly statistical graphs for March 2020 for completeness – and …
Early thoughts on COVID-19 impact on real estate. We’re just getting started with precautionary measures in Ontario and Ottawa specifically. How will it impact the real estate market? Also a treat – some Winter magic: some Ottawa scenery from this past Winter; a compilation of footage shot while out working with clients over the past few months.