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Ottawa real estate market stabilizes in coming months

A Conference Board economist stated in a recent article for the Ottawa Business Journal that the Ottawa real estate market will be "pretty decent".

These comments came after the Board's October resale index was released, showing that the average housing price increase of 3% was just below the rate of inflation, which was 3.3% in October.

The index also showed that for every 1,000 homes listed for sale, 570 were sold in October.  This represents a sales to new listing ratio of 0.570.  A balanced market range is defined as anywhere between 0.393 and 0.709.

For more information on this trend, read the entire Ottawa Business Journal article on the stability of the Ottawa housing market.

For more up to date market statistics, visit our Ottawa real estate website or contact one of our Ottawa Sales Representatives at 613-288-0090.



Posted Monday, November 29, 2010 by Martin Bouma
Tags

Ottawa condo market statistics update for November 2010

According to a recent report by the Ottawa Real Estate Board, real estate sales in the Ottawa area for October 2010 were 1042, compared to 1197 for October 2009.  This represents a decrease of 12.9%.  Since 2009 was a record setting year and the 2010 stats are an average of 2% lower, the 2010 year to date represents a balancing of the Ottawa real estate market.

Of the 1042 sales in Ottawa, 221 were condominiums.  The average price of a condominium in October was $263,292, while the average price of a residential dwelling in October was $361,560, almost a $100,000 difference.

For a more detailed analysis of the Ottawa real estate market, including why a condominium might be the right choice for you and your family, contact the Renaud Otten Team at 613-288-2455.


Posted Monday, November 15, 2010 by Martin Bouma
Tags: ottawa condo statistics,ottawa condos

The Renaud Otten Ottawa real estate team goes green!

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 jonathan@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!

Going green has never been more fun!


Posted Monday, November 08, 2010 by Martin Bouma
Tags: ottawa homes,ottawa green initiatives,green broker