Ottawa Real Estate Blog

Housing Affordability as well as the Future of Condos

cmhs ottawa residential market predictions

We just received this document from CMHC which is a very detailed 37 page report covering a whole bunch of topics, including:

  • Expectations for the housing market through till 2018
  • Population Growth for same period
  • Job Creation for the Ottawa area through 2018
  • Growth in employment by sector, service sector saw most growth
  • Highest Earnings by sector and age group
  • Highest number of sales by location
  • Highest average price increases by location
  • What Age Group earns the highest income
  • What age group forms the highest group for renting

As a sneak peek, I can tell you that the areas that saw the most sales in the Greater Ottawa area were: Downtown Ottawa, followed by

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Residential homes in Barrhaven on the up, condos on the down-slope.

This will likely be our last real estate market update for 2016 covering all of the Barrhaven area. In 2017 we plan to keep you even more informed by making a new video update every month.

  • The current average price for a Townhouse or Semi in Barrhaven is now $311,000
  • The average price for a Detached House in Barrhaven is now $465,000
  • Average for a Townhome or Semi Style condo is $207,000
  • Apartment & Stacked Condo, average price now $219,000

Residential homes have seen an increase in their price of 2.6% for 2016 over 2015 and condos have actually seen a decline of 2% in their average prices.

 Here are all of the Residential Stats on this chart

Barrhaven Residential Stats Dec 2016

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Orleans Detached Homes and Stacked Condos are seeing the best increases in prices this year

The average price for a residential house in Orleans now $376,520
The average price for a condominium class property is now $218,895

Watch the video covering the sales in Orleans for 2016, or scroll down for all of the stats broken down by residential and condo class properties. If you look at the totals, we see that Condo prices went up by just 0.2% and residential home prices went up by 0.9%.

Orleans Residential Stats up to Dec.2016

The image below shows you the total number of sales and breaks it down by Townhomes, Semi-Detached and Detached Homes. Prices in Orleans have not increased that much this year, with Detached homes doing best with

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Detached home prices are increasing most in Kanata, with other residential doing pretty well too

The average price for a Residential House in Kanata is now $402,388
and the average price for a Condominium is at $222,526

Residential class properties combined in all of Kanata all saw an increase in the number of sales as well as price increases. Quite the opposite for Condominium Class properties, as they saw more sales yet average prices saw a decrease in Row-Unit as well as Stacked and Apartment types.

For all residential sales we had an increase of 5.1%. When we break this down by house type, Townhomes and semi-detached saw a 2.2% increase, but it was the Detached Houses that did best, with an increase of 6.5%.

Kanata Residential

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Investment Properties with more than 5 Units have seen 28% less sales in 2016!

Prices are flat in the Larger Multi-Family Investment Market and prices actually decreased when we look at smaller buildings (meaning 2,3 or 4 units).

The average price for a small building in Ottawa right now is $641,173, and the average for a larger building is $1,353,178.

Smaller Properties with 2,3 or 4 Units

You'll see in the chart below that the number of sales in the smaller buildings was up by 17.4%, but prices increased by just 0.9%. We are using units with 2, 3 and 4 units so there is a big discrepancy allowance here. The range in prices is quite large between a duplex and a four-plex, for instance.

small income property stats dec 2016

Larger Building with 5 or more units

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Home Prices usually go up when this happens

The number of homes available for sale in Ottawa dropped by 14% and for Condos it dropped 13%. Fewer choices for buyers' usually means more money for sellers'.

But, we see that prices have not been impacted this year as they are flat with the first 11 months of 2015.

Will this continue in 2017 or will the lack of inventory force prices up, assuming demand remains the same? Watch the video for all the most recent statistics or read the blog post below.

Residential Homes:

For Residential homes, no condos, the average price is now $397,000, this is up just 1% over last year.

There were 6% more sales this year versus last year and it is taking 85 days for a residential class property to

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3rd record breaking month in a row for # of sales

We've had 11,289 home sales in Ottawa in 2016 till October 31st 2016, which is up 6%. This is the 3rd month in a row where we've seen great numbers.

2,545 Condominium class properties have sold so far in 2016, up by 9% over 2015. Great to see condos sales also booming again.

The average price for a residential class property is now $396,109, which is up by 1% over last year. Condominium class properties now average $259,295 which is flat with last year.

It's now taking longer to sell both property types, with homes taking 91 days to sell, versus 74 days last year, and condos taking 128 to sell, versus 92 days in 2015.

Residential Inventory, or the number of homes for sale is down

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Multi-Family sales are down 40% Year to Date

It's a carry-over from last month as sales continue to slide in the larger buildings with 5 or more apartments.

In 2016 we've only seen 15 of the larger buildings sell, compared to 25 in the same timeframe last year. That is a decrease of 40% which is quite a lot.

We also saw a decrease of 0.9% in the average price of a larger building, now at $1,419,833.

Smaller buildings are still holding steady, with 109 sales in 2016, which is a 13.5% increase.

The average price for a smaller property is now at $636,999, which is an increase of 4.1% over last year.

Get all the stats as well as a closer look at 2 recent sales of 2 properties, One in Centretown and the other in Castle Heights by watching

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The number of homes sold in September was up by 8% and condo sales increased by 22%

These numbers are great to see, with inventory levels also falling for residential and condo stock, it should not be long before we see prices rising.

The prices for both homes and condos are pretty much flat with last October.

Main housing stats for Jan-Sep 2016

  • The average price for a residential house is now $396,000, up by 0.5%
  • The average price for a condominium is now $260,000, same as last year
  • Home sales for 2016 at 10,335, up by 7%
  • Condo sales for 2016 are 2,131, also up by 7%

 Watch the video for all of the news and information about the current Ottawa Market.

  • For 2016, it's taking 90 days to sell a home, versus
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Smaller Properties do better than the bigger Buildings

In this months video Pat gives you all of the numbers for small as well as larger income properties and then he gives you a breakdown of the numbers of 3 buildings that sold recently.

This month we took 3 buildings to look at. One was a 4 unit on Somerset Street in Centretown, the 2nd was a 4 unit on Fifth Avenue in The Glebe and the 3rd property was a 10 unit building on Lebreton St. in West Centretown.

Watch the video for all of the stats and news from last month.

Here are the main stats for smaller buildings:

  • There have been 95 sales, versus 85 last year, so up by 11%
  • The average price for a smaller 2, 3 or 4 unit property is now $634,000
  • Prices are up by 3.2% over
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