Ottawa Real Estate News, Info & Market Trends

Colleen Lyle Real Estate aims to make our blog a wealth of information, covering everything from Ottawa market statistics and Ottawa home values to what is happening in communities across Ottawa. That’s because we care about our city and communities and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Dec. 13, 2019

November Market not Cooling Down with the Weather

Your November stats are in, and what a month it has been! A total of 1288 residential properties were sold, an increase of 10.9 per cent from last November. Of that, 958 were residential-class properties (an increase of 10.5 per cent) and 330 were condominium-class properties (an increase of 12.2 per cent). Dwight Delahunt, President of the Ottawa Real Estate Board, notes that “even with the typical winter slowdown, Ottawa’s home resale market still experienced a relatively brisk pace in November.” He goes on to say that “our inventory is not having a chance to build as it is being absorbed as quickly as it comes on the market. That’s why there are so many sales every month even though the supply stock is low.”

The average sale price for a condominium-class property was $313,734 and $501,201 for a residential-class property, an increase of 9.8 per cent and 16.9 per cent respectively from last year. Approximately 57.5 per cent of the condominium market sold between $225,000-$349,999, while 38.8 per cent of the residential market sold between $350,000-$499,999 and residential properties between $500,000-$749,000 increased to 32 per cent of all residential resales. Delahunt acknowledges that "prices have increased, and therefore there is shortage of units available in the lower end price range of both condos and residential properties. That being said, the Ottawa market still remains strong and sustainable with reasonable increases in year to date average prices of 9% in both the residential and condominium property classes.”

He also mentions that at the higher end of the market (the $750-$1M range), there is a large increase in the number of properties sold as 65 units sold compared to 24 this time last year. In the 1M + range, 29 units sold this year compared to 15 in November 2018. Year to date, the larger pictures of these sales is showing a 41% increase and 30% per cent increase respectively.

Finally, approximately 2559 properties have been rented since the beginning of the year.

 

 

 

Dec. 5, 2019

OPEN HOUSE - 190 Gyrfalcon Crescent, Kanata

OPEN HOUSE SUNDAY DECEMBER 8TH 2-4PM

190 Gyrfalcon Crescent, Kanata

190 Gyrfalcon Crescent, Kanata, $599,900 

Stunning 4 bedroom 4 bathroom home in the heart of Bridlewood located just steps from schools, parks, and shopping. Traditionally laid out with a spacious living dining area and open concept kitchen and family room. Kitchen features a walk-in pantry, gas stove and quartz counter tops, not to mention a beautiful vaulted eating area perfect for hosting or gathering family and friends. Family room is bright with an abundance of windows overlooking the pie shaped lot. Upstairs are 4 good size bedrooms, including a cathedral ceiling master bedroom with walk-in closet and 4-piece ensuite. Downstairs is a basement made for the entertainer in the family with a true wet bar with quartz counter tops and stone wall feature as well as home theatre - your guests will never want to leave! Bring the party outside to your private yard with a deck and plenty of green space to enjoy. This home is sure to please even the fussiest buyers, take a look for yourself!

 

 

 

Posted in Open Houses
Dec. 5, 2019

For Sale - 190 Gyrfalcon Crescent, Kanata

190 Gyrfalcon Crescent, Kanata, $599,900 

Stunning 4 bedroom 4 bathroom home in the heart of Bridlewood located just steps from schools, parks, and shopping. Traditionally laid out with a spacious living dining area and open concept kitchen and family room. Kitchen features a walk-in pantry, gas stove and quartz counter tops, not to mention a beautiful vaulted eating area perfect for hosting or gathering family and friends. Family room is bright with an abundance of windows overlooking the pie shaped lot. Upstairs are 4 good size bedrooms, including a cathedral ceiling master bedroom with walk-in closet and 4-piece ensuite. Downstairs is a basement made for the entertainer in the family with a true wet bar with quartz counter tops and stone wall feature as well as home theatre - your guests will never want to leave! Bring the party outside to your private yard with a deck and plenty of green space to enjoy. This home is sure to please even the fussiest buyers, take a look for yourself!

 

 

 

Posted in Hot New Listings
Nov. 20, 2019

Activities to do in Ottawa this Winter

Enjoying winter can be tricky. Embrace it this year with some of these great activities the whole family can enjoy!

 

 

  • December 5th – January 7th: Take a walk downtown Ottawa to see thousands of lights, part of the Christmas Lights Across Canada program – and don’t miss the multimedia show at Parliament Hill projected on Centre Block, it’s a must see!
  • November 21st – January 4th: Another gorgeous display is the Magic of Lights drive-through holiday lights experience held at Wesley Clover Parks in Ottawa. This stunning attraction brings your favourite holiday themes and characters to life with lights! Tune in to a Christmas station while you drive and take it all in from the warmth of your car.
  • December – February: The Rideau Canal – a family classic! Typically open from late December until late February, you can enjoy 7.8km’s of ice while taking in the scenic views of Ottawa. Stop in for a Beavertail and hot coco along the way! The best part? It’s open 24 hours a day and FREE!
  • December – March: Another great place to skate – The Sens Rink of Dreams offers a longer skating season than the canal, as well as heated change huts, picnic tables and benches, and is lit up with Christmas lights – also all for FREE!
  • All Winter Long! Go tobogganing! There are so many great hills in Ottawa that are suitable for all ages. Check out Bruce Pit, Conroy Pit, Green’s Creek, Windsor Park, Seneca Avenue, Vincent Massey Park, or Hog’s Back Park for a fun-filled day!

 

 

Posted in Other Stuff
Nov. 20, 2019

Winterize your Home

Make sure you're winter ready with these easy steps to winterize you home!

 

 

 

Posted in Other Stuff
Nov. 8, 2019

2019 10 30 Ottawa Market Stats

In this episode of CTV Ottawa Morning Live's Ask The Expert with local real estate broker Colleen Lyle, Colleen discusses a variety of topics including Ottawa market statistics and mistakes first time home buyers make. Click to watch now...

Still have questions about buying or selling a home in the current Ottawa Real Estate Market, Ask Us Today!

 

A Discussion on the Ottawa Real Estate Market and More ...

 

 

Nov. 8, 2019

October's Whirlwind Resale Market

Your October stats are in, and what a month it has been! A total of 1607 reisdential properties were sold, an increase of 16.9 per cent from last October. Of that, 1211 were residential-class properties (an increase of 15 per cent) and 396 were condominium-class properties (an increase of 23 per cent). 

Dwight Delahunt, President of the Ottawa Real Estate Board, notes that “new listings are down, inventory remains scarce, and yet more homes changed hands this October than in the past decade and a half.” He adds that “October’s average Days on Market (DOM) for residential properties decreased by 10 days to 33 days, and the DOM for condominiums decreased to 28 days from the average 47 days experienced this time last year. Year to date figures show 31 DOM (down 8 days) for residential properties and 35 DOM (16 fewer days) for condominiums. Products are flying off the shelves, so to speak.”  

The average sale price for a condominium-class property was $319,208 and $483,405 for a residential-class property, an inrease of 18.3 per cent and 7.6 per cent respectively from last year. Approximately 53 per cent of the condominuim market sold between $225,000-$349,999, while 43 per cent of the residential market sold between $350,000-$499,999 and residential properties between $500,000-$749,000 increased to 30 per cent of all residential resales. Delahunt acknowledges that “we are seeing slightly above-average climbs in home prices this year, and the equity in many properties is undoubtedly increasing, which is great news for homeowners. Still, the growths are reasonable considering the state of the market and Ottawa retains its reputation of being one of the country’s most affordable cities where residents can enjoy a high quality of life.”

In terms of multiple offers and homes selling over asking, approximately 36 per cent of homes are selling over asking, compared to 21 percent at this time last year. Delahunt notes that although this phenomenon is certainly affecting some areas of the city, not every neighbourhood or property type has been affected.

Finally, approximately 2334 properties have been rented since the beginning of the year. 

 

 

 

Oct. 29, 2019

OCTOBER STATS FOR STITTSVILLE / KANATA

October Stats for 2019 & October 2018/2019 Comparison

 

Stittsville

Kanata

 

 

 

Oct. 15, 2019

September Sales Continue Strong

Sales continued strong in September despite the low inventory we have seen throughout the year, something we haven’t seen in almost 15 years. “It’s quite amazing, with the limited supply, that the market is still moving well with purchasers finding properties that meet their requirements,” notes Dwight Delahunt, president of the Ottawa Real Estate Board.

1,549 residential properties sold in September 2019 compared with 1,386 in September 2018, an increase of 11.8 per cent. This included 1,113 residential properties (up 6.9 per cent from 2018), and 436 condominium properties (an increase of 26.4 per cent from 2018). September’s average sale price for a condominium was $309,373, an increase of 9 per cent from last year while the average sale price of a residential-class property was $487,438, an increase of 8 per cent. 

“Now that condominium prices have recovered, we see condo sellers jumping back into the market to take advantage of that, and as a result, condo sales have been very robust and have again led the way in September’s unit sales,” Delahunt suggests.

The most prevalent price point in the residential market was $350,000 to $499,999, accounting for 43.5 per cent of September’s sales while 28 per cent of residential sales were in the $500,000 to $749,999 range. The most active price point in the condominium category was $225,000-$349,999, accounting for 56 per cent of the units sold.

“Of course, in this kind of market where the process can be quite accelerated, you must be ready to make a decision quickly and be poised to act straightaway. That’s why it’s prudent to work with a REALTOR® — home sellers can expose their properties immediately, and buyers are able to have instant access to the latest listings posted to the MLS® System,” Delahunt advises.

 

Oct. 10, 2019

2019 10 10 Stats, Investing, and Renting vs Owning

In this episode of CTV Ottawa Morning Live's Ask The Expert with local real estate broker Colleen Lyle, Colleen discusses a variety of topics including statistics, investing in the real estate market, and renting vs owning. Click to watch now...