1232 homes were sold in Ottawa during the month of March, as compared with 1495 during March 2010.  This represents a decrease of 17.6 percent.

The 1232 Ottawa homes that were sold consisted of 296 Ottawa area condominiums and 936 Ottawa residential homes.

Ottawa Real Estate Board Joanne Tibbles explains this decrease as a result of factors such as the introduction of the HST that affected the 2010 sales.  “Years in which there are unusual market forces, such as the HST in 2010, tend to create skewwed comparisons with subsequent years.  Ottawa’s housing market is ticking along much as it usually does in early Spring,” said Tibbles.  The five-year average of Ottawa home sales in March is 1256.

With respect to Ottawa area condos, the average sale price of the 296 condos that were sold was $253,763, which represents an increase of 6.5% over 2010.

The average sale price of an Ottawa residential unit was $375,364, which was an increase of 5.6% over the same period last year.

For more details on today’s housing market statistics, visit our Ottawa real estate website at http://www.ottawaproperties.com or call one of our experienced, professional Sales Representatives at 613-288-0090.

According to the Ottawa Real Estate Board, resale homes sold more quickly during the month of February.

A total of 936 homes were sold in February, which represents a reduction of 9.1% over the 1030 homes that were sold in February 2010.  It is, however, very close to the 5 year average of 962 homes.  Also, these homes sold in an average of just 33 days, which is quicker than in January.

“Once again we’re seeing sales numbers very close to the five-year average for February, which is 962 sales. It’s important to note that the homes that sold last month did so far more quickly than in January, spending an average of just 33 days on the market. As well, prices rose slightly more than they had in the previous two months which indicate we still have a very steady market here in Ottawa,” said Board President Joanne Tibbles. “This tells us that there is a demand for resale homes in Ottawa, and that when buyers see the home they want, they’re going after it, perhaps even going up against other bidders,” Tibbles added.

Of the 936 sales in February, 213 were condos, while 723 were Ottawa residential homes.  The average sale price of the 213 condos in Ottawa was $260,112, while the average sale price of a residential unit was $361,475.  Both of these amounts are up over 6% from the same period in 2010.

For more up-to-date statistics, contact our Ottawa real estate team at 613-288-0090.  Visit our Ottawa real estate website to see photos and videos of our hottest Ottawa listings.

Now that Winterlude is over, you may be looking for something to do this weekend. We are hosting a number of open houses in the Ottawa area on both Saturday, February 26 and Sunday, February 27.

Visit our Ottawa real estate website’s Open Houses web page for details on each of our upcoming open houses, including:

• photo of the property
• address of the property
• details of the open house date and time
• link to a web page with more details, photos, virtual tours and a feature sheet of the property.

Come out and see us this weekend. If you don’t see the right house or condo for you and your family, we will find it for you!

Have a great weekend!

January 2011 Statistics

January 2011 Ottawa home sale statistics

The number of homes sold in January 2011 is slightly down from the same period last year.  675 residential homes were sold in Ottawa during the month of January, compared to 719 in January 2010. Of those Ottawa homes that were sold this January, 135 of those were Ottawa condos, while 540 were residential homes.

The average sale price for both residential and condominium combined was $329,657, which is an increase of 3% over January 2010.

Ottawa residential home sales for January 2011

The average sale price of a residential home in Ottawa for January 2011 was $353,055.  This represents an increase of approximately 4.7% over the sale of residential homes in Ottawa for the January 2010 period.

Ottawa condominium sales for January 2011

Condominiums in the Ottawa area sold at slightly lower prices (on average) as compared to the same period in 2010.  The average sale price for an Ottawa condo in January 2011 was $236,065, which is a decrease of 8.7% over last year.

2010 Statistics

2010 Ottawa home sale statistics

In 2010, Realtors in the Ottawa real estate board sold a total of 14,199 residential homes.  This is decrease over the number of Ottawa homes sold in 2009 of approximately 3.6%. 

As far as Ottawa home prices go, the average price of a home sold in 2010 was $327,225, which is an increase over the average home sale price in 2009 of approximately 7.7%.

For more information on Ottawa home statistics and what you can expect to receive on the sale of your Ottawa area home, contact Ray Otten or one of our professional Sales Representatives at 613-288-0090 or email mail@ottawaproperteis.com

We will be happy to answer any of your questions.

Here at the Renaud Otten Team, we are thrilled to announce the launch of our new OttawaProperties.com website.  With much easier navigation and valuable information for buyers and sellers, we are sure that you will enjoy our new look.

We are also happy to be able to offer visitors to our site a free subscription to Ottawa at Home magazine.  Each issue is packed full of beautiful home decorating ideas, delicious recipes and articles abou Ottawa area people, businesses, restaurants and properties.  Check out a free issue today!

As previously reported, Ray Otten of the Renaud Otten Team has recently become an Accredited Green Broker.  In an effort to reduce our team’s carbon footprint, one of our initiatives is to replace our Homes by Design magazine subscription with an eVersion of Ottawa at Home magazine.

All of our previous clients enjoyed a monthly subscription to the paper-based Homes by Design magazine.  Now, we are exchanging this paper-based subscription to an eco-friendly subscription of Ottawa at Home magazine. 

In addition to providing this eVersion to our existing clients, we are pleased to be able to provide this magazine to all of our potential clients as well! 

In order to reserve your eVersion of Ottawa at Home magazine, simply email mail@OttawaProperties.com with the names and emails of anyone who would enjoy receiving a monthly local magazine filled with home, food and living in Ottawa information – all timely, fresh and unique content delivered to your inbox each month!

For more information regarding the Ottawa real estate market and our green initiatives, contact our team at 613-288-2455 or visit our Ottawa real estate website.

Are you thinking of selling your Ottawa area home but are waiting because you know you have some renovations to do and just can’t afford them right now?  Well, Westboro Flooring and Decor is one of our preferred partners and they have agreed to allow our clients to renovate their homes up to $10,000 with no payment until the closing date!  How can you go wrong? (more…)

There are 2 sides to every story, and this debate is no different.

There are individuals and families who have purchased condominium units or townhomes for investment purposes.  In many cases, the owners have placed an ad in the newpaper or online and found a suitable couple or family to sign a lease and occupy their rental property.
(more…)

Well, it depends on who you talk – or better – who is representing you!

The February 2009 statistics are in and here are the results:

In January and February of this year, the average home or condo in the Ottawa real estate market sold in 40 days. This is up from 25 days last summer.

However, the average home or condo sold by the Renaud Otten team sold in only 22 days – a full 2 1/2 weeks quicker! This is down from the 25 day average of last summer.

So, is the Ottawa real estate market up or down in 2009? Contact the Renaud Otten team and it is UP!

For more information about current market trends, or to view our hot new listings, simply click on the link below:

Ottawa real estate market statistics and hot new listings

Finally, some good news in the Citizen about the Ottawa real estate market. Today’s Ottawa Citizen has an article about it being a home buyer’s market and that Canadians are not as affected by the current economy.

The Ottawa Real Estate Board’s statistics show that, over the past 20 years, homes in Ottawa have appreciated in value an average of over 5% each year. Who’s RRSP portfolio is doing the same? Real estate continues to be a sound investment in the long term and Canadians realize that.

Happy house hunting!