Ottawa Real Estate Pulse
1749 Woodward Dr. K2G 1V9 Ottawa, ON, Canada

What a million will can get you in Ottawa

Average price for Residential Real Estate in Canada is now $716K. Factoring in Condos & Freeholds; Ottawa’s average price is $655K right now. (or 8.5% below the National Average).... This article is brilliant because it showcases the 1 Bedroom you could have in Vancouver to the Detached Palace w/ a Wine Cellar in Moncton. Check out the pics (and be thankful you don’t live in TO where a Lot goes for $716K) Oddly, the article doesn’t include Ottawa. Let me fill in a few deets for you. So far in 2021 there have been 92 Sales between $710K to $720K. 8 Apartments 32 Rowhouses 9 Semi-Detached 43 Detached Houses https://www.cbc.ca//canada-real-estate-prices-scroller-1.6

Multi-Family Properties (part 3, Hierarchy of Property) Multi-Family Properties are those that have 2 to 4 Residences in them.... Typically known as Duplex, Triplex and Fourplexes. (if the Residential Property has more than 5 Residences, it is usually a Commercial endeavour and subject to HST and different Financing regulations). Multi-Family Properties are an exception/outlier in the Hierarchy of Property because they are mostly concentrated inside the Greenbelt; (arising from denser population needs). Residential Real Estate Investors love to buy these types of Properties due to the fact of multiple streams of income. Many wealth building clubs and gurus tout Multi-Family Properties as a stepping stone to financial freedom. If you’re going to live in it, it is possible to to purchase an Income Generating Multi-Family Property with as little as 10% Down; your Mortgage Pre-Approval and proof of Income generated from the Property’s units needs to be taken into consideration, the numbers have to work. (if you want contact info for a knowledgable Mortgage Broker, just ask) The top desirability features that Residential Rental Investors like are Buildings that are purpose built with units that are separately metered (that way it’s not a cost on their bottom line). In recent years the City has relaxed the Zoning for Multi-Family Properties enticing Landlords to make sure their Buildings comply with Code; we’re also seeing many knockdown and purpose built rebuilds happening. They’re all unique (vs cookie cutter layouts from builders in the burbs) so I find them interesting; am always keeping the pulse on what the best deals are (‘cuz who doesn’t like someone else paying your Mortgage?). Currently there are: 10 Duplexes for sale; $524K to $1.550 million 14 Triplexes for sale; $724K to $2.988 million 8 Fourplexes for sale; $1.195 million to $2.450 million

Good read that gives perspective if you’re trying to make a purchase right now...

Luxury Property (part 2 of Hierarchy of Property) Regardless of which City you live in Canada, a Luxury Property is double the average price of the current average.... Any category of Property can be a Luxury Property in Ottawa. An Apartment at 1451 Island Park (currently being built) or 40 Boteler commands well into Ottawa’s Luxury range. (Multi-Family Properties mostly being an exception). Ottawa’s current average Residential price is $530K. (this is including both Condos & Freeholds). Ottawa’s current Luxury Properties price is $1.06 million (or more). There were 505 Luxury Property Sales in Ottawa for 2020, and they averaged at $1.419 million. (2020 was the first year that million+ Residential Sales outpaced one/day) This means the average person buying a Luxury Property in Ottawa had a Budget of at least $1.5 million. The highest priced House that sold in Ottawa in 2020 was $4.825 million (Rockliffe Park). I’ve been tracking million (or more) Properties for a few years. (because sh!t always rolls downhill, so the first indicator of a HOT market is an increase in Luxury Properties). In 2016, when Luxury Properties were $744K (or more), Ottawa had 151 million (or more) Sales. In 2017, million (or more) Residential Property Sales numbered at 250. That was a 67% increase, and my first indicator that Ottawa was about to turn into a HOT Market; (even though the average price for Residential Properties only went up by 5%, reaching $392K that year). There’s usually a reason for the premium in price making it Luxury. As always ‘Location (location, location)’ always plays a big factor, coupled with inherently what the Property is; (a big house generally sells for more than a smaller house). Aside from an amazeballs Kitchen, other factors that contribute to make a Property be in the Luxury category; ie. Waterfront, View, Amenities, Acreage One of the neatest features I’ve seen a Luxury Property have were dancing water fountains (like in Disney & Vegas) poolside in Rideau Forest neighbourhood. If you were to purchase a Luxury Property, what would you like to make sure it has?

This article summarizes everything I explain about Ottawa's HOT Real Estate Market to potential Home Buyers, Sellers and Real Estate Investors. What do you think 2021 will be like...? https://ottawa.ctvnews.ca/record-10-billion-worth-of-proper

Do you trust Google...? Here's a screen shot I captured after I typing in "average house price Canada"... The kicker is the part that I highlighted in yellow.... The average price of Real Estate across Canada has risen by 9% since 2018. In Ottawa, it’s risen 30% within the same time span; (catching up to the National Average). Would you like to know where Ottawa’s Real Estate prices are going in the next 3 years? (just contact me)

Hierarchy of Property in Ottawa (part 1) In Ottawa, Real Estate has a Hierarchy; (please note that this is a generalization and there are always exceptions).... In most neighbourhoods in Ottawa, there is a mixture of these of these types of Properties in my Infographic. From an Investment point of view, Luxury Property is at the top. Regardless of which City you reside in Canada, Luxury Properties are those that are double the value of the average price of Residential Properties in the area. Multi-Family Properties are those that have 2 to 4 Residences in them. Typically known as Duplex, Triplex and Fourplexes. (if the Residential Property has more than 5 Residences, it is usually a Commercial endeavour and subject to HST and different Financing regulations). Detached House, pretty much the category that most Home Owners in Ottawa aspire for. Semi-Detached, are like Duplexes that you own one half of. Row Houses are atypical of not having Condo Fees and the Owner is responsible for inside and outside the structure. All of the so far mentioned categories of Properties are called Freehold. After that all the Properties are in the Condominium Category. Condominiums are individual units of a larger Property Complex. This usually includes non-exclusive interest in community/common Property, and controlled by Condominium Management. TownHouses are similar to Row Houses except that they are Condos. Stackables are newer builds in Ottawa with multiple floors. (kinda like a cross between a Townhouse and an Apartment). Apartments for many are their first form of independent living. There are always exceptions; for example, an Apartment can supersede all the categories and be a Luxury Property. Questions (or comments),?

Having a knowledgable Realtor who knows how to navigate Ottawa’s HOT Market (and when it’s Warm or Passive Market) is always to your advantage. This article is correct in that your first step to Home Ownership getting Pre-Approved for a Mortgage. If you need an introduction, am glad to put you into contact w/ an awesome Mortgage Broker.... ...

A look inside Ottawa’s most expensive residential Listing... (my current favorite Luxury Listing is only $3.8 million)...

This is happening in the Ottawa Real Estate market. Contact me if you need to properly, prep, present and promote your Property to get the best price...

Been a crazy December helping Clients purchase Investment Properties. Was able to get this one bought and Leased before the sign could go in the ground (or put on the MLS). Contractors will be finished this weekend (before & after pics to come), and a Family will have a new Home to be in for Christmas.... These are aspects of my job that I love...

A properly designed and installed Kitchen can easily make a Home’s overall value increase more than the cost of the renovation. An amazing Kitchen makes any Home more desirable. (but like most things in Life, nothing is more expensive than a cheaply done job).... This article has some excellent advice for those wanting to update their Kitchen. Personally I love designing an ergonomic and timeless renovation. (with skilled Contractors making my design come to fruition). Personally I think #9 should be #1 1) Don’t Choose Fragile Materials I prefer materials that will age, wear and patina well. 2) Never Forgo Cabinets Seen a few places in town that were previously Rental Units renovated at the bare minimum to sell; when I see a new Kitchen missing a 4 Drawer Cabinet in the Kitchen, it’s implicit how cheap the Seller/Landlord is. 3) Don’t Buy Cheap Appliances The cheapest Appliances seem to break down 2 months after the Warranty expires. (making it more expensive than originally buying a better quality Appliance). 4) Never Ignore Workflow The Kitchen is the heart of most Homes. An efficient Kitchen helps a Family thrive. 5) Don’t Refuse Help From a Professional Designer Advice is the one thing we get an abundance of. Deciphering between good and bad is an art in Life. Not willing to listen to a professionals opinion is turning down good advice. 6) Don’t Forget the Rest of Your House Take the time to protect other spaces, that will allow you to fully enjoy the end result without damaging the rest of the house. 7) Don’t Forget Your Budget It’s important to stick to your Budget so that you can pull it off. (smart people will also build in a Contingency). 8) Don’t Choose Appliances Last Choose your major Appliances first, then design/build around those dimensions. 9) Don’t Forget to Have Fun (again, I reiterate this should probably be Rule #1). 10) Don’t Let the Project Ruin Relationships I get work from people coming together, and/or breaking up. According to stats, 12% of couples consider getting a divorce while renovating their Home. https://www.familyhandyman.com//10-things-you-should-nev/

Ottawa’s Real Estate is just slightly more appreciated than the National Average.

I think we’ll be seeing towers popping up at most of the LRT Stations...

In 2016 Ottawa had 151 Residential Sales that were over a Million Dollars ($Million+). Back then a Luxury Property would have been anything $750K+; Double the Average Residential Price. This includes everything from Condos & Freeholds.... 2017 saw $Million+ have 249 Transactions. That’s 67% increase in volume!! (and the first tell tale sign of Ottawa’s Real Estate Market was ready to gain momentum). 2018 Ottawa had 257 $Million+ Sales. 2019 saw 344 $Million+ Residential Transactions. (last year I watched this intently to see if Ottawa would reach 365; making the pace at one per day). This year, 2020, we broke 365 Million Dollar (or more) Transactions on September 3rd. (before Labour Day Weekend!!). Currently Ottawa is sitting at 573 (and counting) Residential Real Estate Transactions at over a Million dollars!! There are 185 Active Listing for a Million+ currently in Ottawa; (probably the only category in Ottawa with an abundant supply). Want to know more about Ottawa's HOT Real Estate Market...? Just contact me...

Change is the only thing we can count on. (Ottawa’s skyline has changed so much in my Lifetime) In my youth I lived around the block from here.... (already missing the patio), Was a great spot on Bank Street in the Summer. My band used to rehearse around the corner; after practice we’d have beers and pub fare at James Street (r.i.p. Silver Snail across the street). A 9 storey Building is going up where the pub stands. It’s going to have: 7 000 Ground Floor Retail Underground Parking for 64 cars, and 72 Bicycles 55 One Bedroom Apartments (and) 73 Two Bedroom Apartments The City has ‘Conditions’, and evolution for population density is inevitable. I like that the City wants the Building to step back at the 4th Storey, and like the idea ‘historic character’ being retained. On top of not being a monolithic eyesore, would like to challenge the Builder to have more Parking; w/ the infrastructure for charging electric vehicles. What would you like to see happen on this corner in Centre-Town? (sure am going to miss that patio). https://obj.ca//plan-replace-james-street-pub-new-mixed-us

Anyone that works w/ me in Real Estate knows my Rules of Real Estate... 1. Location 2. Location... 3. Location 4. How quickly will it re-sell I live by them, and my Clients have benefitted by following these Rules. When you want to make a manoeuvre up (or down) the Hierarchy of Real Estate, you need to be able to sell your place quickly and for the best price.

Have helped Clients buy and sell in Manor Park. Still an awesome neighbourhood in Ottawa... (whenever I’m there, I still pop into the Confectionary for candy and lotto tix)...

Good article on what Rental Rates for Apartments across Canada are. It also goes further in depth than the dollar amount by voicing the experience (and difficulties faced) on getting their place as well. They interviewed Renters from Vancouver, West Kelowna, Toronto, Montreal, Nunavut, Halifax and Coboug (?) & Wolfville, NS (?!).... Ottawa? Not mentioned. (thought I’d fill in some of the info). On the MLS there are 122 One Bedroom Apartments for Rent; averaging at $1852/month. For Two Bedrooms, there are 130, averaging at $2422/month. Most places in Ottawa won’t consider your application w/out Equifax Report, Proof of Income and Letter of Employment. Bottom line, it’s still cheaper to own than Rent. https://www.refinery29.com//9368009/renting-apartment-home

How HOT is Ottawa's Real Estate Market...? September 2020 had 51% more volume of sales than last year. (October is not showing any signs of slowing down)...... Need to make a maneuver...? Just contact me... https://capitalcurrent.ca/ottawa-housing-market-continues-/

Record low Rates till 2023!! This makes doing Real Estate manoeuvres accessible... https://financialpost.com//bank-of-canada-holds-rate-at-0-

Inspections are a critical part of a Home Purchase. Just for the record, NO HOME is 100% perfect. (including my Mother’s,. just don’t tell her that).... Every resale Home in the Ottawa area has an average of $5K to $10K in non-critical repairs; (not even a brand new Home is immune to these deficiencies). A Home Inspector’s job is to tell you: a) What is right about the Building b) What needs maintenance c) And what is liable about the Building within a range of: 1) Critical, must fix now 2) Good to do, can fixed later 3) Do it if you want to The link below is 15 things Home Inspectors wish Home Owners knew. It’s a really good checklist to do before the snow falls https://www.familyhandyman.com//12-things-home-inspect/Hom

Know anyone that needs Office Space in Kanata South...? 2800 sq. ft. 6 Parking Spaces 2 Bathrooms... 2 Kitchenettes ...

Bottom line,... You need 4 people on your Team to make a Purchase, (and in this order)... 1) Mortgage Broker... 2) Realtor (yours truly)... 3) Home Inspector 4) Real Estate Lawyer Want to know more...? (just contact me)... https://www.point2homes.com//6-bad-habits-that-sabotage-yo

(WOW!!)... These rates are the lowest I’ve ever seen...

If you live in Ottawa (and surrounding area),... McConville Movers is who I refer for moving pianos...

Mortgage Brokers have many options to choose from the ‘products’ they offer for financing your Property. Best to ask all your questions before you go House hunting. (and have your Mortgage secured before putting in an Offer)...... This is why I recommend knowledgeable Mortgage Brokers that work on saving you money and/or able to work w/ your future plans. Remember, the only stupid question is an unasked question. https://ottawacitizen.com//are-you-thinking-of-switching-t

Ottawa’s Real Estate market is HOT!! (don’t be left in the cold)... Contact me if you need to make a manoeuvre... ... https://ottawacitizen.com//ottawa-house-prices-sales-volum

The 5 Hottest Real Estate markets in Canada right now. Toronto and Vancouver are NOT on the List; (go figure)... 1. Ottawa... 2. Montreal 3. Niagra Region 4. Guelph 5. Greater Moncton Need to get the best price for your Property in Ottawa...? Just contact me... https://www.thewhig.com//9fe86390-e3ad-41ee-b1da-50ece5f72

Overheating, HOT, outlier...(?) Want to understand what’s happening in Ottawa’s Real Estate market...? (and take advantage of it to gain Equity)...... Just book some time w/ me, the Realtor in Ottawa that has the pulse on all this...

Need to make a manoeuvre Buying your next Home, and Selling yours for the Best Price...? I’ve got the pulse on Ottawa’s Real Estate... https://www.ctvnews.ca//new-home-prices-had-biggest-monthl

Isn’t this backyard a little piece of paradise...? ...

Ottawa area Builders are trying to keep up w/ demand... https://www.obj.ca//housing-starts-ottawa-gatineau-soar-15

What do you think of this water feature...? ...

Condo prices are on the rise in Ottawa’s HOT Real Estate market... https://www.mortgagebrokernews.ca//crea-five-canadian-citi

Lets simplify the gobble-dee-gook of all the #’s from this Aug 2020 Stats (vs Aug 2019 Stats). The average price for a Freehold was $592 548 ($593K); 1576 Transactions. While the average price for a Condo was $383 640 ($384K); 441 Transactions.... That works out to an average of $547K for Residential Real Estate Transactions in Ottawa during the month of August. Now let’s look at Real Estate in Ottawa for 2020 as a whole (or the last 8 months, so far). The average Real Estate sale in Ottawa in 2020 (so far) is $530K. (regardless of being Condo or Freehold). That is 20% higher than last year. (August alone raised the overall year average by 4%); that’’s HUGE!! The best time to buy Real Estate was 5 years ago, the second best time is right now.

And again (for above asking) in Beacon Hill South. Want to sell your place for the best price...? Contact me...

Another sale in my old stomping grounds in Beacon Hill North... For years I had wondered what the interior of this custom was like every time I walked my dog past it. 2 Double Car Garages (4 in total) had me intrigued...... Awesome for both the Seller and the Buyer. Need to sell your place...? (just contact me)...

WTF!! That’s $800K OVER ASKING!! (not for $800K)...... Thankfully I’m in Ottawa. ... https://toronto.ctvnews.ca//this-tiny-toronto-house-just-s

More Canadian Homes sold in July than any other month in the past 40 years!! (that’s quite the headline in my Industry) The national average is $571 500 ($572K); while Ottawa’s average for Residential Properties is $512K (both Freehold and Condo together) for 2020; approx 11% less than the National average.... Ottawa historically maintains an average price lower than the National average. Bottom line, prices are up 16% from last year in Ottawa; (up 38% since 2016 just prior to this HOT cycle happening). There are numerous circumstances driving this: Covid Back to school Ottawa’s standard of living Ottawa being the 2nd fastest growing City in Canada More Buyers than Sellers... It is a Seller’s Market, but not all Properties sell for their best price. The difference between getting the best price can easily be over a $40K value. Achieving this takes: Prepping your Property Pricing it properly Promoting it (alliteration skill not necessary)... It’s not often one sells their Home, so make sure you put your best foot forward when you do by hiring an Agent that gets results. Contact me if you want to get results. ... https://www.ctvnews.ca//more-canadian-homes-sold-in-july-t

Open Concept Apartment. (in Beacon Hill South)... Awesome for a First Time Home Buyer, or to add to one’s Rental Investment portfolio.... Contact me if you’d like to see it in person...

Did you know that the average price for a 1 Bedroom Apartment in Ottawa is $370K...? Most people object in disbelief when I tell them this. Then again, most of my Clients are usually looking for something bigger place to accommodate their Family; (w/ a $370K Budget, most would be looking for a Townhouse).... So far in 2020, there have been 295 sales of 1 Bedroom Apts.; ranging from $120K to $585K. Want to know more about this one in the video...? (it’s going to hit the MLS today)...

Who would like this installed in their place...? ...

Which of these designs do you wish you had...? ...

What everyone in Ottawa w/ a BBQ in their backyard needs...

Advice is the one thing we get an over abundance of... The art to Life is being able to decipher between good and bad advice. My tidbit of good advice...... your Home should be your first Investment - profit & Equity you make is Capital Gains free in Canada. https://www.buzzfeed.com//useless-yet-useful-advice-reddit

For rent in Beacon Hill North...

Been showing just as many Waterfront Properties as in town Listings. Truth be told, absolutely amazing to step foot in some of these spectacular places. Even had one Client bring their fishing pole; to cast a few lines from the shore before even stepping into the Homes.... Can’t argue w/ the Clients logic/methodology; they have their reasons for wanting Waterfront.

Fun ideas to do in our Hometown... If your kids are animal lovers,... Little Rays Reptiles, now in Sarsfield has Family Packages; (only 40 mins from Downtown)... Brockville’s Tall Ships and Otter Experience in Brockville (1 hr away) sounds awesome too!! Which ones do you like...? https://ottawa.ctvnews.ca//18-summer-staycation-ideas-for-

Can you believe these Rates...? ...

Got to visit and tour Ottawa’s first legal Coach House in Beacon Hill South. With the City looking at densification, it seems like a good idea for Lots that can allow it. The first one was a stunning example.

Personally, am a low maintenance sort of guy. My preference is a yard that is the same way. Some people get pleasure from tending a large lawn and garden; they say it’s therapeutic.... Which side of the fence are you on...? ... https://blog.techo-bloc.com/the-luxury-of-a-low-maintenance

Ottawa Real Estate prices have been always been below the National average in price. Yet we are consistently in the Top 5 places to live in Canada (due to quality of Life).

Love doing what I do... This sale was the highest sale in the Complex (at the time). Ottawa’s Real Estate Market is HOT!!

When the make or break decision is on the Home Inspection. Lawrence Thibault and Buyer’s Choice Home Inspections have provided excellent service to my Clients.

Never heard of a builder in Ottawa doing this. These 50 Buyers have a right to be upset. What do you think...?

What do you think is the right course of action for school aged children...?

What do you think of this cupboards space...?