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July 2018
Finally some relief after some very HOT and Humid weather.  Heard hot and humid are coming back Monday and Tuesday, not that we are complaining after a cold winter :-).

Here are some June Stats and Facts courtesy of the Ottawa Real Estate Board.  Where do you live?

Enjoy this months news letter

Condo Sales Keep Market from Over Heating
Members of the Ottawa Real Estate Board sold 2,070 residential properties in June through the Board's Multiple Listing ServiceĀ® System, compared with 2,163 in June 2017, a decrease of 4.3 per cent. The five-year average for June sales is 1,914. June's sales included 455 in the condominium property class, an increase of 11.5 per cent from June 2017 and 1,615 in the residential property class, a decrease of 8 per cent from a year ago.

"The first half of 2018 has performed very well with the number of year to date residential sales almost identical to this time last year," states Ralph Shaw, Ottawa Real Estate Board President. "Condo unit sales have led the way, increasing by 16.8 per cent over the same period."
"The robust condo numbers are likely fueled by lack of inventory, particularly in the lower price points of the single-family resale market. For example, in the first half of the year there has been a decrease of 37 per cent in the number of single-family units sold at the $250-275K price point and a 41 per cent decrease for the $275-300K price range, whereas there is a corresponding increase in condo sales of 49 per cent and 22 per cent respectively for those same price points," Shaw points out.

"This suggests that at the lower end of the single-family resale market, buyers are turning towards condominium units as a way of achieving ownership at a price they can afford. The oversupply in our condo market that once was an issue is now helping to ease our overall inventory shortage."

"Further, with construction costs up (concrete is one example) as well as increasing development fees, and skilled labour at a premium which is extending build timelines, the price of purchasing a new build is simply out of reach for many entry-level buyers," he adds. "The options then become to move further outside the urban boundary to less expensive markets in surrounding communities."

The year to date average Days on Market (DOM) for residential homes has decreased 18 per cent from 46 days in 2017 to 37 days currently. For condos, the DOM has decreased from 71 days to 52 days, a 27 per cent decrease from June 2017.

To read the full article click here.
10 Things You Should Know Before Buying Your First Cottage, According to Scott McGillivray

June 30, 2018  Scott McGillivray
Summer weather is finally here which means recreational real estate is on everyone's mind. If you're thinking of buying a cottage or country home, make sure you know about these 10 potential issues before you put in an offer. 

Scott McGillivray is a real estate expert and host of HGTV Canada's  Income Property and  Moving the McGillivrays.

To see all 10 click here
7 Staging Tricks to Make Your Condo Look Bigger and Boost its Sale Price

June 7, 2018  Emma Yardley

As more and more condo towers rise across Canada, making your unit stand out in the market is more important than ever. Taking the time to understand how to best show off limited square footage can pay off. With these seven staging tricks, you'll know how to showcase your condo's best assets - and get the best price possible. 

To see all 7 click here

If you or someone you know is considering buying, selling, or moving to Ottawa in the next 6 months, call us at  613-831-6747.   I n all markets it's important that you choose an agent to represent you who is experienced, knows the market and your goals, and is dedicated  to working first toward your best interests. Our commitment is in writing. Call or email us to help with your plan. 

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