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Wow! Check out this Hobby Farm for only $359,900!

 

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An Ideal Home for a Growing Family! $514,900

 

 

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Old Ottawa South $549,900

 

 

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 The Ottawa Real Estate market shows moderating trend in March!

Ottawa, April 4, 2013 - Members of the Ottawa Real Estate Board sold 1,167 residential properties in March through the Board’s Multiple Listing Service® system, compared with 1,388 in March 2012, a decrease of 15.9 per cent.

“The Ottawa market has been described as steady and stable for the past few years. It’s not going up drastically, and it’s not going down drastically,” says Tim Lee, President of the Ottawa Real Estate Board. “The market was forecasted to slow down in 2013 as a result of recent mortgage changes, and indeed it has.”

“According to chief economists at the Canadian Real Estate Association (CREA) and intelligence garnered from large mortgage lenders, large mortgage brokers, and large real estate brokers, the most recent changes to mortgage rules and guidelines has largely impacted first-time buyers by forcing them to focus on more affordably priced homes. They were, to a much lesser extent, priced out of the market,” explains Mr. Lee. “When the changes were first announced, those who were actively shopping had to re-evaluate how much home they could afford to finance. Another factor for the slow-down of the Ottawa market could be the role of public service employment cuts in the local economy. ”

March’s sales included 253 in the condominium property class, and 914 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, stacked etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

The average sale price of residential properties, including condominiums, sold in March in the Ottawa area was $358,102, an increase of one per cent over March 2012. The average sale price for a condominium-class property was $267,604, a decrease of 4.1 per cent over March 2012. The average sale price of a residential-class property was $386,197, an increase of 2.7 per cent over March 2012. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

 The Ottawa Real Estate Board is an industry association of over 2,900 sales representatives and brokers in the Ottawa area. Members of the Board are also members of the Canadian Real Estate Association.


www.michelleandtamira.ca is your Resource Centre for buying or selling a home in Ottawa, Kanata, Barrhaven, Manotick, Riverside South, Greely and the surrounding areas. Whether you're buying or selling a home or condo, finding the right real estate professionals to help you through the process is the key to your success. When it comes to serving our clients we don't leave any thing to chance. Providing honest, reliable and professional service when you need it most is what we are all about. Keeping you informed throughout the home buying or selling process is our top priority! 

If you are planning to buy or sell a home in Ottawa, Greely, Manotick, Riverside South, Kanata or Barrhaven, let us put our knowledge of the Real Estate market to work for you.

If you are looking for Professional Real Estate services to help you sell your property or help you find (or build) your dream home in the Ottawa area give us a call!  With in-depth knowledge of the Ottawa Real Estate Market  and a proven track record of success, we can help you negotiate the right price for the right home or sell your property quickly at a price that works for you.  

 If you are considering buying or selling a home and would like some honest, reliable advice please feel free to contact us any time for a free, no-obligation consultation.      

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The Michelle and Tamira Team is "Your Real Estate Information Source" for Greely, Riverside South, Barrhaven and Manotick MLS Listings and Ottawa Real Estate.

Our clients can always expect the highest level of customer service possible. Keeping you informed of what is happening in the local Real Estate market is our top priority. For the latest news on what is happening in your area click here!

Royal LePage Gale Real Estate
5510 Manotick Main Street, Po Box 803, Manotick, Ontario, K4M 1A7
Office Telephone: (613) 692-2555
Email: info@michelleandtamira.ca

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Real Estate Stats

Approximate Average Real Estate sale prices (Including only freehold homes sold between January 1st and April 7th 2013) . Note that the average sale price in Barrhaven includes Stonebridge & Halfmoon Bay.

Greely: $471,900
Manotick: $456,666
Riverside South: $408,410
Barrhaven/Stonebridge: $362,087
Kanata: $372,763
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